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Fannie Mae

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The Federal National Mortgage Association, which is commonly known as Fannie Mae, trades under the New York Stock Exchange ticker symbol FNMA. As a Government Sponsored Enterprise, or GSE,Fannie Mae was established in 1938 by the US Congress.

fannie mae

Responsibilities of Fannie Mae

It is the responsibility of Fannie Mae to maintain a secondary market in home mortgages. Fannie Mae increases the ability of lenders to provide long term mortgages by ensuring that mortgages meeting specific criteria can be readily traded among lending institutions and investment banks. Due to this a direct benefit to consumers is that mortgage interest rates are lower than they would otherwise be.

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