History of Fannie Mae in Timeline
Fannie Mae (Federal National Mortgage Association) is a U.S. government-sponsored enterprise (GSE) created in 1938. It operates in the secondary mortgage market, primarily by securitizing mortgage loans into mortgage-backed securities (MBS). This process allows lenders to reinvest assets, increasing the availability of mortgage funds and the number of lenders. By creating MBS, Fannie Mae reduces reliance on local savings and loan associations, promoting a more liquid and efficient national mortgage market. It functions alongside its brother organization, Freddie Mac, to support housing finance in the United States.
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