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Fannie Mae
FNM
Federal National Mortgage Association, operating as
Fannie Mae in the United
States, is a source of financing for home
mortgages. Federal National Mortgage Association was chartered by the U.S.
Congress to provide liquidity in the secondary mortgage market to increase
the availability and affordability of homeownership for low to middle-income
Americans. Fannie Mae's charter limits its operations to activities related
to housing, mortgages and related financial products. Fannie Mae's business
activities are associated with national policies that support the expansion
of homeownership in America,
and serve to increase the total amount of funds available to finance housing.
Though chartered by Congress, Fannie Mae's's business is self-sustaining and
funded exclusively with private money. The United States government does not
guarantee, directly or indirectly, Fannie Mae's securities or other
obligations.
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