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Fannie Mae

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Length: 1950 words (5.6 double-spaced pages)
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Fannie Mae
Fannie Mae is a leading mortgage company and one of the most financially successful businesses within its industry. Given the salient features of the organization that has culminated into its current standing, this report offers a brief but concise overview of the corporation.
The organization began as a part of Roosevelt’s New Deal, a program initiated by the onslaught of worldwide economic depression in the 1930s and the complete collapse of the housing market. Chartered by Congress as the Federal National Mortgage Association in 1938, the organization’s principal mission was to encourage home ownership by providing local banks with money and ensuring the residential mortgage market is well funded by the creation of a secondary mortgage market (Cottle 1998, Allie Mae 2004).
In 1968 Lyndon B. Johnson transformed Fannie Mae into a “government sponsored enterprise” (GSE) due to the company’s complete monopolization of the second mortgage market (Cottle 1998). Cottle explains that, “as a GSE, the company is subject to congressional oversight and certain limitations o...


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...ed March 28, 2007 from http://www.fanniemae.com/newsreleases/2002/1918.jhtml;jsessionid=DXK2LOBEZWQMFJ2FECISFGI?p=Media&s=News+Releases
PR News. (2000, April 11). Fannie Mae chairman announces new loan guidelines to combat predatory lending practices. Fannie Mae. Retrieved March 28, 2007 from http://www.fanniemae.com/newsreleases/2000/0710.jhtml;jsessionid=Q4PCD4JQCGKBHJ2FECISFGI

Working Mother. (2004). Fannie Mae. Retrieved March 28, 2007 from
http://www.workingmother.com/web?service=direct/1/ViewTopListingPage/dlinkDetails&sp=40&sp=77

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