Fannie Mae - Business Site Page
The Federal National Mortgage Organization (FNMA), frequently known as Fannie Mae, is a United States government-sponsored enterprise (GSE) as well as, since 1968, an openly traded firm. Founded in 1938 throughout the Great Anxiety as part of the New Deal, the company's purpose is to increase the secondary home loan market by securitizing mortgage loans in the form of mortgage-backed safety and securities (MEGABYTESES), enabling lending institutions to reinvest their properties into even more loaning and basically enhancing the variety of loan providers in the home mortgage market by reducing the reliance on locally based savings and loan associations (or "second hands"). Its brother organization is the Federal Home Mortgage Firm (FHLMC), better called Freddie Mac. As of 2018, Fannie Mae is ranked number 21 on the Fortune 500 positions of the biggest United States corporations by complete profits.
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