Fannie Mae Loans

Q: What is Fannie Mae?

A: Fannie Mae guarantees and purchases loans form mortgage lenders to make sure families can buy, refinance and rent a home. They also help families avoid foreclosure. Fannie Mae is a government sponsored enterprise, but is privately owned. It receives support from the Federal Government. The main function is to provide liquidity to the nation's mortgage finance system. Fannie Mae purchases home loans made by private firms (providing the loans meet the requirements), package those loans into mortgage-backed securities and guarantee timely payment of principal and interest on those securities to outside investors. The Fannie Mae website is HERE.

Q: What does Fannie Mae stand for?

A: The Federal National Mortgage Association.

Q: How do I know if Fannie Mae owns my loan?

A: You can find out if Fannie Mae owns your loan by using the self-service loan look-up tool HERE.