Fanie Mea.docx - Fannie Mae For the song see Fannie...

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Fannie Mae For the song, see Fannie Mae (song). For the Chicago-based confectionery, see Fannie May. "FNMA" redirects here. For the airport with this code, see Malanje Airport. For the Australian organisation, see First Nations Media Australia. Federal National Mortgage Association (Fannie Mae) Logo navy fm logo 72x242.png Fannie Mae Headquarters.JPG Fannie Mae's former headquarters at 3900 Wisconsin Avenue, NW in Washington, D.C. Type Government-sponsored enterprise and public company Traded as OTCQB: FNMA ISIN US3135861090 Edit this on Wikidata Industry Financial services Founded 1938; 82 years ago Headquarters Midtown Center, 1100 15th Street, NW, Washington, D.C. 20005 Key people Jonathan Plutzik (Chairman) Hugh R. Frater (Chief Executive Officer) Celeste M. Brown
(Senior Executive Vice President and CFO) David C. Benson (President) Products Mortgage-Backed Securities (MBS) Revenue Increase US$22,1 Billion (2019) Operating income Decrease US$17,6 Billion (2019) Net income Decrease US$14,2 Billion (2019) Total assets Increase US$3,5 Trillion (2019) Total equity Increase −US$14,608 Million (2019)(25,000 limit) Number of employees ~7,500 (December 31, 2019) Website Footnotes / references Fannie Mae total assetsLargest companies in the US by total assets The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal,[1] the corporation's purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS),[2] 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 locally based savings and loan associations (or "thrifts").[3] Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. As of 2018, Fannie Mae is ranked #21 on the Fortune 500 rankings of the largest United States corporations by total revenue.[4] History A view, from the southwest, of the Federal National Mortgage Association's (Fannie Mae's) Reston, Virginia facility. Historically, most housing loans in the early 1900s in the USA were short term mortgage loans with balloon payments.[5] The Great Depression wrought havoc on the U.S. housing market as people lost their jobs and were unable to make payments. By 1933, an estimated 20 to 25% of the nation's outstanding mortgage debt was in default.[6] This resulted in foreclosures in which nearly 25% of America's homeowners lost their homes to banks. To address this, Fannie Mae was established by the U.S. Congress in 1938 by amendments to the National Housing Act[7] as part of Franklin Delano Roosevelt's New Deal. Originally chartered as the National Mortgage Association of Washington, the organization's explicit purpose was to provide local banks with federal money to finance home loans in an attempt to raise levels of home ownership and the availability of affordable housing.[8] Fannie Mae created a liquid secondary mortgage market

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