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Public Company, Headquarters Location
Washington, DC 20016-2806 United States
(202)752-7000,
http://www.fanniemae.com
Company Description: Fannie Mae is a government-sponsored corporation listed on the New York Stock Exchange that was chartered by Congress in 1938. The Federal Housing Finance Agency (FHFA), formed on July 30, 2008, became conservator of the company on September 6, 2008 due to the downturn in the housing and mortgage markets. The FHFA has overall management authority, but delegates specified authority to the company's board of directors and management. Fannie Mae seeks to support liquidity and stability of the residential secondary market by securitizes mortgage loans in the primary market so they can be bought and sold in the secondary market. Although the Department of the Treasury owns Fannie Mae stock, the government does not guarantee the company's securities. The company also purchases mortgage loans in the secondary market and makes investments aimed at increasing affordable housing, but it does not lend money directly to homeowners in the primary mortgage market. On February 18, 2009, the Obama Administration announced the Homeowner Affordability and Stability Plan (HASP) that impacts Fannie Mae in several areas.
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