Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac.
Fannie Mae's headquarters in Washington, D.C. | |
| Company type | Government-sponsored enterprise and public company |
|---|---|
Traded as | OTCQB: FNMA |
| Industry | Financial services |
| Founded | 1938 |
| Headquarters | Washington, D.C., U.S. |
Key people | |
| Products | Mortgage-backed securities |
| Revenue | US$29.735 billion (2022) |
Net income | US$12.923 billion (2022) |
| Total assets | US$4.305 trillion (2022) |
| Total equity | US$60.277 billion (2022) |
Number of employees | c. 8,000 (December 31, 2022) |
| Website | www |
| Footnotes / references | |
In 2023, with over $4.3 trillion in assets, Fannie Mae is the largest company in the United States and the fourth largest company in the world, by assets. Fannie Mae was ranked number 28 on the Fortune 500 rankings of the largest United States corporations by total revenue and was ranked number 75 on the Fortune Global 500 rankings of the largest global corporations by total revenue.