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Federal National Mortgage Association

corporation government owned

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.

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