| Real Estate Terms -> What is Fannie Mae (FMNA) |
Fannie Mae (FMNA)
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What is Fannie Mae (FMNA)? |
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Federal National Mortgage Association (FNMA) commonly referred to as Fannie Mae is an agency that purchases conventional Real Estate mortgage loans from lenders. FNMA and FHLMC together make up what is know as the Secondary Market. Although it does not originate any loans, by purchasing home loans originated by lenders, it frees up more money to be used by those lenders to originate more home loans. These loans must conform to FNMA standards which is why they are called Conforming Loans. FNMA programs can often be combined with other programs to create very effective financing packages. |
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