- Business
- Federal National Mortgage Association (Fannie Mae; ticker: FNMAS) operates as a government-sponsored enterprise that provides liquidity, stability, and affordability to the U.S. mortgage market by purchasing mortgages from lenders, holding them in portfolio or securitizing them into mortgage-backed securities (MBS) sold to investors, and guaranteeing timely principal and interest payments on its MBS; core offerings encompass single-family mortgage products including HomeReady low-down-payment mortgages with income flexibilities and $2,500 credit assistance for very low-income first-time homebuyers effective March 2025, HFA Preferred in partnership with housing finance agencies, 97% loan-to-value options, HomeStyle Renovation for purchase or refinance with repairs, HomeStyle Energy for efficiency upgrades, construction products, accessory dwelling unit financing, manufactured housing via MH Advantage, Native American lending, down payment assistance, shared equity programs, and RefiNow affordable refinances; multifamily business supports rental housing financing with $73 billion loan purchase cap in 2025 (rising to $88 billion in 2026) including 50% mission-driven minimum and workforce housing exemptions; capital markets activities involve issuing debt to fund operations. Founded in 1938 during the Great Depression as part of the New Deal and headquartered at Midtown Center in Washington, DC, Fannie Mae transformed U.S. housing by popularizing the 30-year fixed-rate mortgage and operates nationwide across single-family homebuyers, owners, renters, and multifamily investors through approved lenders. Recent developments include reporting $3.9 billion net income for third-quarter 2025 marking 31 consecutive profitable quarters with $287 billion liquidity provided in the first nine months supporting 1.1 million households and $4.3 trillion total assets, executive leadership transition in October 2025 with Priscilla Almodovar stepping down as CEO, FHFA approvals for Rocket Companies' acquisition of Mr. Cooper Group under safety guardrails, workforce housing loan growth exceeding $4.5 billion through third-quarter 2024, and Desktop Underwriter V. 12.0 release alongside income calculator innovations.