Fannie Mae: Difference between revisions

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 {{Short description|Government-backed financial services company}}
-{{About||the song|Fannie Mae (song)|the Chicago-based confectionery|Fannie May|science fiction character|Whipping Star}}
-{{Redirect|FNMA|the airport with this code|Malanje Airport}}
-{{Use mdy dates|date=May 2022}}
-{{Infobox company
-| name = Fannie Mae
-| logo = Fannie Mae Logo.png
-| logo_size = 215px
-| image = Fannie Mae Headquarters (53844807298).jpg
-| image_size =
-| image_caption = Fannie Mae's headquarters in Washington, D.C.
-| type = [[Government-sponsored enterprise]] and [[public company]]
-| traded_as = {{OTCQB|FNMA}}
-| industry = [[Financial services]]
-| foundation = {{Start date and age|1938}}
-| hq_location = [[Washington, D.C.]], U.S.
-| key_people = {{unbulleted list
-   | Michael J. Heid ([[Chairman]])
-   | [[Priscilla Almodovar]] ([[CEO]] and [[President (corporate title)|President]])
-   }}
-| products = [[Mortgage-backed securities]]
-| revenue = {{decrease}} {{US$|29.048 billion}} (2023)
-| net_income = {{increase}} {{US$|17.408 billion}} (2023)
-| assets = {{increase}} {{US$|4.325 trillion}} (2023)
-| equity = {{increase}} {{US$|77.682 billion}} (2023)
-| num_employees = {{circa| 8,100}} (December 2023)
-| homepage = {{url|https://www.fanniemae.com/|fanniemae.com}}
-| footnotes = <ref name="10-K 2022">{{cite web |url=https://www.fanniemae.com/media/50336/display |title=Federal National Mortgage Association 2023 Annual Report (Form 10-K)  |date=February 15, 2024 |access-date=August 5, 2024}}</ref>
-}}
 The '''Federal National Mortgage Association''' ('''FNMA'''), commonly known as '''Fannie Mae''', is a United States [[government-sponsored enterprise]] (GSE) and, since 1968, a [[publicly traded company]]. Founded in 1938 during the [[Great Depression]] as part of the [[New Deal]],<ref>{{Cite magazine| url=http://www.time.com/time/business/article/0,8599,1822766,00.html | archive-url=https://web.archive.org/web/20081006011833/http://www.time.com/time/business/article/0,8599,1822766,00.html  | archive-date=October 6, 2008 | magazine=[[Time (magazine)|Time]] | first=Kate | last=Pickert | title=A Brief History of Fannie Mae and Freddie Mac | date=July 14, 2008}}</ref> the corporation's purpose is to expand the [[secondary mortgage market]] by [[securitization|securitizing]] [[mortgage loans]] in the form of [[mortgage-backed security|mortgage-backed securities]] (MBS),<ref name="FNMA-About FNMA">
 {{cite web
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 | archive-date = October 26, 2008
 }}
 </ref> allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based [[savings and loan association]]s (or "thrifts").<ref name="fabozzi_p2">{{citation | title= Mortgage and Mortgage-backed Securities Markets | last1= Fabozzi | first1= Frank J. | last2= Modigliani | first2= Franco | publisher= Harvard Business School Press | year= 1992 | isbn= 0-87584-322-0 | page= [https://archive.org/details/mortgagemortgage0000fabo/page/2 2] | url= https://archive.org/details/mortgagemortgage0000fabo/page/2 }}</ref> Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as [[Freddie Mac]].
 In 2024, with over $4.3 trillion in assets, Fannie Mae is the largest company in the United States and the fifth largest company in the world, by assets.<ref name=":1">{{Cite web |title=Fortune Global 500 |url=https://fortune.com/ranking/global500/search/ |access-date=2024-08-05 |website=Fortune |language=en}}</ref><ref name=":2">{{Cite web |title=Fortune 500 |url=https://fortune.com/ranking/fortune500/search/ |access-date=2024-08-05 |website=Fortune |language=en}}</ref> Fannie Mae was ranked number 27 on the [[Fortune 500|''Fortune'' 500]] rankings of the largest United States corporations by total revenue and was ranked number 58 on the [[Fortune Global 500|''Fortune'' Global 500]] rankings of the largest global corporations by total revenue.<ref name=":1" /><ref name=":2" /> In terms of profit, Fannie Mae is the 15th most profitable company in the United States and the 33rd most profitable in the world.<ref name=":1" /><ref name=":2" />