Federal National Mortgage Association
Definition
FNMA or Fannie Mae. A congressionally chartered corporation which buys mortgages on the secondary market, pools them and sells them as mortgage-backed securities to investors on the open market. Monthly principal and interest payments are guaranteed by FNMA but not by the U..S. Government.
Use this term in a sentence
“ He worked in the Federal National Mortgage Association and had a lot of experience with mortgages and buying them and everything. ”
“ You should try to have a good contact in the federal national mortgage association that can let you know if any changes will be made. ”
“ Jake knew that the Federal National Mortgage Association was a reputable organization and he felt very comfortable putting some of his assets toward those securities. ”
