Fannie Mae - Mortgage Association
The Federal National Mortgage Association (Fannie Mae) is a private, shareholder-owned
company similar to Freddie Mac, whose mission is to infuse the mortgage markets
with fresh money. The major mortgage industry company mortgages exclusively on
the secondary market, repackages them and sells off pieces to investors. They
do not offer home mortgages or act as a mortgage broker. Instead, they work with
mortgage lenders to ensure they don't run out of mortgage funds which keeps the
mortgage markets more vigorous thus enabling more homeowners to take out home
mortgages.
The Federal government established Fannie Mae just before the second world
war to increase the flow of mortgage money by creating a secondary market. Fannie
Mae was authorized to buy Federal Housing Administration (FHA)-insured mortgages,
thereby replenishing the supply of lendable money.
In 1968, The Federal National Mortgage Association became a private company
using private capital. To expand its role as a national mortgage service company,
it was expanded to buy mortgages beyond
traditional government loan limits.
Today, Fannie Mae operates under a congressional charter to channel its efforts
into increasing the availability and affordability of home loans for those in
lower income levels Fannie Mae receives no government funding and is a fully supported
shareholder owned company.
Call GNA Mortgage Group to discuss an innovative, intelligent alternative to
standard debt payment type mortgages. Your home
mortgage is a major financial asset. Let us show you how to leverage its financial
power to brighten your financial future. We're specialist New
Hampshire Mortgage brokers.
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