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Government-backed financial services company
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) that has been a publicly traded company since 1968. Founded in 1938 during the Great Depression as part of the New Deal, the corporation was established to expand the secondary mortgage market. It does this by securitizing mortgage loans into mortgage-backed securities (MBS), which allows lenders to reinvest their assets into additional lending.
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Fannie Mae cut its 2027 mortgage forecast by 18% as it raises rate expectations, signaling a prolonged purchase market and continued industry consolidation.