Federal National Mortgage Association

The Federal National Mortgage Association FNM, or more familiarly, "Fannie Mae", is a government-sponsored private corporation authorized to purchase and sell mortgages, which increases the affordability and availability of mortgages. Also charged by the federal government with facilitating the orderly operation of a secondary market for home mortgages.

Related Terms

• Federal Home Loan Mortgage Corporation (Freddie Mac)
• SLM Corporation

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