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| The Real Estate Encyclopedia |
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| Fannie Mae |
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| Category - Government, Associations & Organizations - Federal Bodies
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Fannie Mae is a shareholder-owned company with the mission to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market.
Fannie Mae has a federal charter and operates in America's secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. Its job is to help those who house America.
Fannie Mae was created in 1938, under President Franklin D. Roosevelt, at a time when millions of families could not become homeowners, or risked losing their homes, for lack of a consistent supply of mortgage funds across America.
The government established Fannie Mae in order to expand the flow of mortgage funds in all communities, at all times, under all economic conditions, and to help lower the costs to buy a home.
In 1968, Fannie Mae was re-chartered by Congress as a shareholder-owned company, funded solely with private capital raised from investors on Wall Street and around the world.
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