Federal National Mortgage Association 

The Federal National Mortgage Association, commonly known as Fannie Mae, stands as a pivotal entity in the United States' housing finance system, primarily by ensuring a steady flow of funds for mortgages. It achieves this by purchasing mortgage loans from a wide range of originating lenders and subsequently transforming them into its own mortgage-backed securities (Fannie Mae MBS). The organization's operations are divided into two distinct primary segments: 1. Single-Family: This division is responsible for acquiring and packaging a diverse array of residential mortgage loans. These include fixed-rate or adjustable-rate, first-lien mortgages, as well as securities backed by such loans. Its portfolio also encompasses loans insured by the Federal Housing Administration (FHA), those guaranteed by the Department of Veterans Affairs (VA) and the U.S. Department of Agriculture's Rural Development Housing and Community Facilities Program, manufactured housing loans, and various other mortgage-related securities. Furthermore, this segment offers essential single-family mortgage servicing, alongside comprehensive credit risk and loss management services. 2. Multifamily: Focusing on larger residential properties, this segment securitizes multifamily mortgage loans into Fannie Mae MBS and directly purchases such loans. It also plays a crucial role in providing credit enhancements for bonds issued by state and local housing finance authorities that are used to fund multifamily housing projects. Additional activities include issuing structured mortgage-backed securities underpinned by Fannie Mae's own multifamily MBS, actively trading multifamily agency mortgage-backed securities, and making strategic investments in low-income housing tax credit (LIHTC) multifamily developments. This segment also delivers delegated underwriting and servicing, as well as multifamily mortgage and credit risk management services. Fannie Mae serves an extensive network of financial institutions and entities, including mortgage banking companies, savings and loan associations, savings banks, commercial banks, credit unions, community banks, insurance companies, private mortgage originators, and state and local housing finance agencies. The Federal National Mortgage Association was established in 1938 and maintains its headquarters in Washington, District of Columbia.