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(Created page with "{{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 headquar...")
 
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{{Organization
|OrganizationName=Fannie Mae
|OrganizationType=Government-Sponsored Enterprises (GSEs)
|Mission=To facilitate equitable and sustainable access to homeownership and quality, affordable rental housing across America by providing reliable, affordable mortgage financing. Fannie Mae supports liquidity, stability, and affordability in the mortgage market.
|CreationLegislation=National Housing Act of 1934 (as part of the New Deal)
|Employees=7400
|OrganizationExecutive=Chief Executive Officer
|Services=Mortgage-backed securities; Mortgage loan purchasing; Housing finance programs
|HeadquartersLocation=38.90452, -77.03498
|HeadquartersAddress=1100 15th Street NW, Washington, DC 20005
|Website=https://www.fanniemae.com
}}
{{Short description|Government-backed financial services company}}
{{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">
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">
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| archive-date = October 26, 2008
| 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]].
</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" />
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" />
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===2013 allegations of kickbacks===
===2013 allegations of kickbacks===
On May 29, 2013, the ''[[Los Angeles Times]]'' reported that a former [[foreclosure]] specialist at Fannie Mae has been charged but pleaded "not guilty" to accepting a [[Kickback (bribery)|kickback]] from an Arizona [[real estate broker]] in a [[Ronald Reagan Federal Building and Courthouse (Santa Ana)|Santa Ana Federal court]]. Another lawsuit filed earlier in [[Orange County, California|Orange County]] [[Superior Courts of California|Superior Court]], this one for [[wrongful termination]], has been filed against Fannie Mae by an employee who claims she was fired when she tried to alert management to kickbacks. The employee claims that she started voicing her suspicions in 2009.<ref>{{cite news| url=https://www.latimes.com/business/la-xpm-2013-may-27-la-fi-fannie-mae-kickbacks-20130525-story.html | work=[[Los Angeles Times]] | first=E. Scott | last=Reckard | title=Kickbacks as 'a natural part of business' at Fannie Mae alleged | date=May 27, 2013}}</ref>
On May 29, 2013, the ''Los Angeles Times'' reported that a former [[foreclosure]] specialist at Fannie Mae has been charged but pleaded "not guilty" to accepting a [[Kickback (bribery)|kickback]] from an Arizona [[real estate broker]] in a [[Ronald Reagan Federal Building and Courthouse (Santa Ana)|Santa Ana Federal court]]. Another lawsuit filed earlier in [[Orange County, California|Orange County]] [[Superior Courts of California|Superior Court]], this one for [[wrongful termination]], has been filed against Fannie Mae by an employee who claims she was fired when she tried to alert management to kickbacks. The employee claims that she started voicing her suspicions in 2009.<ref>{{cite news| url=https://www.latimes.com/business/la-xpm-2013-may-27-la-fi-fannie-mae-kickbacks-20130525-story.html | work=Los Angeles Times | first=E. Scott | last=Reckard | title=Kickbacks as 'a natural part of business' at Fannie Mae alleged | date=May 27, 2013}}</ref>


==Leadership==
==Leadership==
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