Federal National Mortgage Association
News and overview for Federal National Mortgage Association
Ginnie Mae's exposure to subprime mortgages soars
The Financial Services Roundtable SmartBrief | 105 days 14 hours 9 minutes ago
The Government National Mortgage Association, known as Ginnie Mae, will soon...heading toward trouble with its mortgage exposure. The inspector general...issued scathing reviews of the Federal Housing Administration's practices...
REITs expected to participate in TALF
ICSC SmartBrief | 118 days 14 hours 9 minutes ago
...investment trusts are expected to sell commercial mortgage-backed securities through the Federal Reserve's Term Asset-Backed Securities...Facility, said Steven Wechsler, CEO of the National Association of Real Estate Investment Trusts. The deals...
Senate grants short extension for National Flood Insurance Program
NAMIC dailyLead | 21 days 13 hours 9 minutes ago
The National Association of Professional Insurance...decision to extend the National Food Insurance Program...uncertainty" for homeowners and mortgage lenders. But Jimi Grande...senior vice president of federal and political affairs...
3 Results
Company Overview
| Company: | Federal National Mortgage Association |
|---|---|
| Industry: | Mortgage Banking & Related Services |
| Website: | http://www.fanniemae.com |
The Federal National Mortgage Association, or Fannie Mae, has helped more than 50 million low- to middle-income families realize the American Dream. Like its brother Freddie Mac, the government-supported enterprise (GSE) provides liquidity in the mortgage market by buying mortgages from lenders and packaging them for resale, transferring risk from lenders and allowing them to offer mortgages to those who may not otherwise qualify. The company owns or guarantees about $3.1 trillion in home loans, or more than a quarter of all outstanding mortgages in the US. Due to losses caused largely by the subprime mortgage crisis, the federal government seized both Fannie and Freddie in September 2008.
Key Numbers
| Sales in U.S. Dollars (mil.) | -11,689 (2008) |
|---|---|
| One-year % Growth in Sales | 0.0 (2008) |
| Net Income in U.S. Dollars (mil.) | -58,298 (2008) |
| One-year % Growth in Net Income | 0.0 (2008) |
| Number of Employees | 5,700 (2007) |
| One-year % Growth in Number of Employees | -13.6 (2007) |
| Fiscal Year-End | December |