Federal National Mortgage Association

American  

noun

1. a U.S. government-sponsored private corporation whose chief function is to supply funds for home mortgages through continuous purchases of mortgages from lending institutions. FNMA

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Example Sentences

The company, formally known as the Federal National Mortgage Association, appeared to be at a crossroads.

From Washington Post • Oct. 18, 2020

In 1994, he left the government and joined the Federal National Mortgage Association, better known as Fannie Mae.

From The New Yorker • Nov. 6, 2016

The Federal National Mortgage Association, or “Fannie Mae”, was made private in 1968, and was joined by a twin, the Federal Home Loan Mortgage Corporation, “Freddie Mac”, in 1970.

From Economist • Apr. 10, 2014

New Deal policy makers created Fannie Mae, originally called the Federal National Mortgage Association, to buy mortgages from local banks and mortgage companies and sell them to insurance companies and other investors.

From Salon • Jun. 24, 2012

Mortgages auctioned off to private investors last week by the Federal National Mortgage Association brought an average yield of 7.8%, down from a peak of 8.1% in early July.

From Time Magazine Archive