January 7, 2009
FNMA
Fannie Mae is the common name for the Federal National Mortgage Association – FNMA. It is a privately owned and government sponsored program that is authorized to make loans and guarantees loans. It provides a secondary mortgage market. It purchases and sells government underwritten residential mortgages.
Filed under Money Glossary by Tracy Phaup
The Secondary Mortgage market is the market where existing mortgages are bought and sold, usually in bulk.
Filed under Money Glossary by Tracy Phaup
