Real Estate Appraiser
01-26-2006, 06:57 PM
The federal government of the United States created the Federal National Mortgage Association (FNMA) (NYSE: FNM), commonly known as Fannie Mae to investors on the open market. This , in 1938 to establish a secondary market for mortgages insured by the Federal Housing Administration (FHA). Fannie Mae buys mortgages on the secondary market, pools them and sells them as mortgage-backed securitiessecondary mortgage market helps to replenish the supply of lendable money for mortgages and ensures that money continues to be available for new home purchases.