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The clipping this text was read from
The clipping this text was read from

II you ve ever listened in on a conversation among Realtors, builders, mortgage brokers, or bankers, you may have heard the name “Fannie Mae” mentioned. No, it’s not a pancake mix or a brand of bread. It refers to a government agency subsidized and chartered by the U.S. government. The full name of the agency is Federal National Mortgage Association and it has been in existence for close to forty years.

Fannie Mae functions as a secondary mortgage market, which consists of organizations that buy mortgages from firms that originate them. Fannie Mae offers to buy FHA-insured and VAguaranteed mortgages from lending institutions

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