The Federal National Mortgage Association, known as Fannie Mae, was created in 1938 as part of FDR’s New Deal.
In 1954, an amendment was passed that allowed Fannie Mae stock to be purchased by private investors.
In 1968, the company was completely privatized in order to remove its debt from the federal budget.
In 1981, the company issued its first Mortgage Backed Security or MBS.
In 1999, the company began to offer mortgages to low and moderate income families due to political pressure from President Clinton.
In 2003, the subprime mortgage crisis began and the company was thrown into turmoil.
In 2008, the company was placed under control of the Federal Housing Finance Agency (FHFA).
In 2010, the company was removed from the NYSE.
Today, Fannie Mae is the largest player in the US secondary mortgage market.
Fannie MaeThe Federal National Mortgage Association, known as Fannie Mae, was created in 1938 as part of FDR’s New Deal.
In 1954, an amendment was passed that allowed Fannie Mae stock to be purchased by private investors.
In 1968, the company was completely privatized in order to remove its debt from the federal budget.
History
In 1981, the company issued its first Mortgage Backed Security or MBS.
In 1999, the company began to offer mortgages to low and moderate income families due to political pressure from President Clinton.
In 2003, the subprime mortgage crisis began and the company was thrown into turmoil.
In 2008, the company was placed under control of the Federal Housing Finance Agency (FHFA).
In 2010, the company was removed from the NYSE.
Today, Fannie Mae is the largest player in the US secondary mortgage market.