FANNIE MAE (FNMA) RETOTD Episode 196
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FANNIE MAE (FNMA)
The Federal National Mortgage Association – A quasi-governmental corporation authorized to sell debentures in order to supplement private mortgage funds by buying and selling FHA (Federal Housing Administration) and VA (Veterans Affairs) loans at market prices. Federal Housing Administration (FHA) A federal agency that insures first mortgages, enabling lenders to lend a very high percentage of the sale price.