(in the US) an informal name for the Federal National Mortgage Association: a private company that buys and sells mortgage debt
Word origin
C20: altered from the initials FNMA
Fannie Mae in American English
(ˈmeɪ)
US
Informal
Federal National Mortgage Association: a government-sponsored corporation, formerly a federal agency, which purchases mortgages from lending institutions and issues mortgage-backed certificates and long-term bonds
Fannie Mae in Finance
(fænɪ meɪ) or Federal National Mortgage Association
noun
(Finance: Mortgage)
Fannie Mae is an official organization in the US that buys and sells loans in order to provide mortgages to homebuyers.
Fannie Mae purchases residential mortgages and converts them into securities for sale to investors.
Fannie Mae is one of several government agencies that is permitted to issue debt for sale tothe investing public.
Fannie Mae is an official organization in the US that buys and sells loans in order to providemortgages to homebuyers.
Word originsThe nickname Fannie Mae derives from the initials of its formal name, the Federal National Mortgage Association.Similarly,the Federal Home Loan Mortgage Association is known as Freddie Mac, the Government National Mortgage Association is Ginnie Mae, and the Student Loan Marketing Association is Sallie Mae.
Examples of 'Fannie Mae' in a sentence
Fannie Mae
"Now I recall I do believe I saw Old Mrs. Cooligan over by the Fannie Mae display.