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The Federal National Mortgage Association (FNMA;
OTCQB: FNMA), commonly known as Fannie Mae, was founded in 1938 during the
Great Depression as part of the New Deal. It is a government-sponsored
enterprise(GSE), though it has been a publicly traded company since 1968. The
corporation's purpose is to expand the secondary mortgage market by
securitizing mortgages in the form of mortgage-backed securities (MBS),
allowing lenders to reinvest their assets into more lending and in effect
increasing the number of lenders in the mortgage market by reducing the
reliance on thrifts. For a comprehensive list of articles discussing Fannie
Mae, see Fannie Mae and Freddie Mac: A Bibliography.
Type
Government-sponsored enterprise & Public company
Industry Financial services
Founded
1938
Headquarters
Washington, D.C.
Key people
Tim Mayopoulos, CEO
Products
Diversified Investments
Revenue US$ 137.4 billion (2011)
Net income
US$ -16.9
billion (2011)
Total assets
US$ 3.2
trillion (2011)
Total equity
US$ -4.6
billion (2011)
Website
www.fanniemae.com
