Fannie Mae (FNMA)
Fannie Mae (FNMA) Headquarters:
Fannie Mae (FNMA)
Fannie Mae began in 1968 and they have assisted more than 63 million families achieve the American Dream of owning their own home. There are many who could credit Fannie Mae with allowing more Americans to own homes now than at any other time. It is of utmost importance that consumers are aware that Fannie Mae is not a lender. Fannie Mae is a privately-owned institution that works hard to ensure lenders do not run out of money. Fannie Mae helps to regulate the mortgage industry by providing universal standards of underwriting guidelines to all their Fannie Mae-approved lenders. Fannie Mae also developed the Desktop Originator / Desktop Underwriter, which is a software program utilized by loan lenders and originators to automate the underwriting process by evaluating perceived risk. Fannie Mae is a powerful force behind the concept of responsible lending. This means that Fannie Mae offers an eight-point plan mode that includes such items as providing business guidelines to avoid purchasing loans with abusive features, creation of a mortgage consumers bill of rights, and expansion of the application of conventional conforming practices to the subprime market. All of these items are designed to assist consumers and lenders as well as to assist everyone in financing their idea of the American Dream.
Request a free Online Mortgage Quote >>
Another core of Fannie Mae’s missions is consumer awareness which has brought about the publication of Fannie Mae’s book series at homebuyingguide.org, along with older programs such as Community Homebuyers which gave borrowers more debt ratio flexibility if the borrower attended a general informational class about the mortgage process – their theory being an educated borrower is less of a risk.
Fannie Mae has additional aspects including attempting to assist consumers save money, either by reducing the down payment requirements, or by assisting lenders to offer more competitive rates.
Request a free Online Mortgage Quote >>
Recent Fannie Mae News
- Current Fannie Mae Initiatives: Fannie Mae is in the American Dream business. Their mission is to break down barriers, lower costs as well as increase opportunities for homeownership. A couple of the initiatives are: Fannie Mae’s American Dream Commitment and their Affordable Housing and Community Development activities.
- News Release April 20, 2006 - Fannie Mae introduces Benchmark REMICs.
- News Release April 19, 2006 – Fannie Mae Prices New Issue 5-Year Benchmark Notes.
- News Release April 19, 2006 – Fannie Mae announces 10-Year Reopening Benchmark Notes -Auction Results.
Request a free Online Mortgage Quote >>
California Mortgage Loans is not directly affiliated with any mortgage broker or lender and cannot make any guarantee as to the lender affiliation of any broker or agent which contacts you. Company information on our site is for informational purposes only.
