less than 1 minute read

Federal National Mortgage Association

Federal National Mortgage Association (FNMA), or “Fannie Mae,” government-chartered corporation that acts as a secondary mortgage market for banks. It was created as a government-owned corporation in 1938 to make mortgage funds widely available in the post-World War II housing surge. It was jointly held by the government and private stockholders from 1954, and became a privately owned corporation in 1970.

Additional topics

21st Century Webster's Family Encyclopedia21st Century Webster's Family Encyclopedia - Federalist, The to Forensic science