Federal National Mortgage Association

Federal National Mortgage Association in the United States


The Federal National Mortgage Association, usually called Fannie Mae, was created by Congress in 1938 but became a private company (under a Federal government charter) in 1968. Fannie Mae raises money from investors and then lends the money to banks and other mortgage lenders. Fannie Mae’s underlying purpose is to promote home ownership by ensuring that lenders have adequate capital. The U.S. government took control of Fannie Mae in September, 2008, during an economic panic and crash of the real estate market. In exchange for a capital infusion (FNMA and Freddie Mac together got about $188 billion so they would remain solvent), the Treasury took a new class of “senior preferred” shares that originally paid a 10% dividend. The Federal Housing Finance Agency served as conservator.

Legal Materials

Fannie Mae can be reached by calling 1-800-7-FANNIE. Their Web address iswww.fanniemae.com.

Rates: Interest rates (“yields”) on Fannie Mae loans are reported in the Wall Street Journal‘s Money and Investing section under “Money Rates.” See also “LIBOR Rate” and “Money Rates.”

Guides: Fannie Mae publishes several “Guides,” including the Fannie Mae Selling Guide, the Fannie Mae Single Family Servicing Guide and the Fannie Mae Multi-Family Servicing Guide. The Guides are available in electronic form throughwww.allregs.com.

Mortgage-Backed Securities: Fannie Mae sponsors several kinds of mortgage-backed securities, including ARMs and REMICs. Prospectuses and other information are available on the Mortgage-Backed Securities section of the Fannie Mae Web site.

See Also

Real Estate
Money Rates
Interest Rates
Real Estate Mortgage Investment Conduits (REMICs)

Federal National Mortgage Association in the context of Real Estate


See Also

  • FNMA

Federal National Mortgage Association: Open and Free Legal Research of US Law

Federal Primary Materials

The U.S. federal government system consists of executive, legislative, and judicial branches, each of which creates information that can be the subject of legal research about Federal National Mortgage Association. This part provides references, in relation to Federal National Mortgage Association, to the legislative process, the federal judiciary, and the primary sources of federal law (cases, statutes, and regulations).

Federal primary materials about Federal National Mortgage Association by content types:

Laws and Regulations

US Constitution
Federal Statutory Codes and Legislation

Federal Case Law and Court Materials

U.S. Courts of Appeals
United States courts of appeals, inclouding bankruptcy courts and bankcruptcy appellate panels:

Federal Administrative Materials and Resources

Presidential Materials

Materials that emanate from the President’s lawmaking function include executive orders for officers in departments and agencies and proclamations for announcing ceremonial or commemorative policies. Presidential materials available include:

Executive Materials

Federal Legislative History Materials

Legislative history traces the legislative process of a particular bill (about Federal National Mortgage Association and other subjects) for the main purpose of determining the legislators’ intent behind the enactment of a law to explain or clarify ambiguities in the language or the perceived meaning of that law (about Federal National Mortgage Association or other topics), or locating the current status of a bill and monitoring its progress.

State Administrative Materials and Resources

State regulations are rules and procedures promulgated by state agencies (which may apply to Federal National Mortgage Association and other topics); they are a binding source of law. In addition to promulgating regulations, state administrative boards and agencies often have judicial or quasi-judicial authority and may issue administrative decisions affecting Federal National Mortgage Association. Finding these decisions can be challenging. In many cases, researchers about Federal National Mortgage Association should check state agency web sites for their regulations, decisions, forms, and other information of interest.

State rules and regulations are found in codes of regulations and administrative codes (official compilation of all rules and regulations, organized by subject matter). Search here:

State opinions of the Attorney General (official written advisory opinions on issues of state law related to Federal National Mortgage Association when formerly requested by a designated government officer):

Tools and Forms

Law in Other Regions

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