Federal National Mortgage Association (Fannie Mae)

The Federal National Mortgage Association, commonly known as Fannie Mae, is a government-sponsored enterprise in the United States. Its primary role is to facilitate home ownership by providing financial backing for mortgage loans. Fannie Mae buys mortgages from lenders, which helps those lenders have more money to offer new loans. This process aims to increase the availability of affordable housing and stabilize the housing market. By ensuring that money flows into the mortgage market, Fannie Mae plays a crucial role in making housing more accessible for many Americans.