FNMA
Business & Finance abbreviation · Real Estate & Mortgage
| Stands for | Federal National Mortgage Association |
|---|---|
| Categories | Business & Finance |
FNMA stands for Federal National Mortgage Association, a real estate & mortgage abbreviation.
Government-sponsored enterprise known as Fannie Mae that buys mortgages from lenders, packages them into mortgage-backed securities and guarantees them, providing the steady funding that makes 30-year fixed-rate loans widely available.
Example: Our loan was sold to FNMA a month after closing, but the servicer stayed the same.
Usage notes
Created in 1938 as part of the New Deal and converted to a shareholder-owned company in 1968. During the 2008 financial crisis Fannie Mae and Freddie Mac were placed into conservatorship under the Federal Housing Finance Agency, where they remain. Its underwriting rules define the "conforming" loan standard.
Related abbreviations
More real estate & mortgage abbreviations
- EIK – Eat-in kitchen
- EMD – Earnest money deposit
- FAR – Floor area ratio
- FF&E – Furniture, fixtures and equipment
- FHA – Federal Housing Administration
- FHLMC – Federal Home Loan Mortgage Corporation
- FP – Fireplace
- FR – Family room
- FRM – Fixed-rate mortgage
- FSBO – For sale by owner
- FTHB – First-time homebuyer
- GFE – Good faith estimate