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FINDLAW LEGAL DICTIONARY

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Fannie Mae

fannie mae

Federal National Mortgage Association (FNMA); a federally-chartered enterprise owned by private stockholders that purchases residential mortgages and converts them into securities for sale to investors; by purchasing mortgages, Fannie Mae supplies funds that lenders may loan to potential homebuyers. Also known as a Government Sponsored Enterprise (GSE).



Source: U.S. Department of Housing and Urban Development