In 1938 the Federal Government realized they needed to expand the flow of money and create a secondary market. Fannie Mae was established and authorized to buy FHA insured mortgages there by replenish the supply of lendable money.
In 1968 Fannie Mae became a privately company providing capital on a self sustaining basis. It’s role was expanded to buy mortgages beyond traditional government loan limits which caused it to reach out to a broader cross section of Americans.
Today Fannie Mae operates under a congressional charter from the U.S. House of Representatives that directs it to channel its efforts to make more affordable housing available to low and moderate income households.
Fannie Mae receives no government funding or backing but is one of the nations largest tax payers.
Fannie Mae received numerous awards including:
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