Federal National Mortgage Association is a private corporation chartered by the United States government. It is commonly referred to as Fannie Mae. The corporation helps assure that enough money is available for home mortgages. Fannie Mae buys mortgages from such institutions as banks, savings and loan associations, mortgage companies, and insurance companies. It also issues and guarantees mortgage-backed securities.

Fannie Mae was established in 1938 as a government-owned corporation and was placed under the Housing and Home Finance Agency in 1950. In 1954, Fannie Mae was reorganized as a corporation owned jointly by the government and private stockholders. It became a totally private corporation in 1970.