Federal National Mortgage Association

Fannie Mae, officially known as the Federal National Mortgage Association, is a United States government-sponsored enterprise (GSE) headquartered in Washington, D.C. Established in 1938 during the Great Depression, its core business is to expand the secondary mortgage market by purchasing mortgage loans from lenders and securitizing them into mortgage-backed securities (MBS). This process provides liquidity to lenders, enabling them to reinvest in additional lending and support a continuous supply of mortgage funds. Fannie Mae's mission is to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America, thereby providing liquidity, stability, and affordability to the U.S. housing market.

The company's key products and services include the creation and guarantee of mortgage-backed securities, which are sold to investors. It offers various loan products such as HomeReady®, RefiNow™, HomeStyle® Renovation, and HFA Preferred™ loans, designed to meet diverse borrower needs, including those with low down payments. Fannie Mae also provides technological solutions like Desktop Underwriter (DU) for automated loan underwriting, assisting lenders in efficiently assessing credit risk. Its market segments primarily encompass single-family and multifamily mortgage markets, serving primary mortgage lenders, servicers, and institutional investors.

In recent leadership news, Peter Akwaboah was appointed acting Chief Executive Officer in October 2025, with John Roscoe and Brandon Hamara named co-presidents. Fannie Mae reported a net income of $3.7 billion for the first quarter of 2026, with single-family loan acquisitions reaching $99 billion, largely driven by increased refinance demand. The company continues to play a dominant role in the U.S. housing finance system, maintaining approximately 24% market share of single-family mortgage debt outstanding and 21% of multifamily mortgage debt outstanding. It has also announced updates to its Selling Guide to incorporate VantageScore® 4.0 and future FICO® Score 10T credit scores to modernize credit assessment.