Office address: 1523 L St NW, Washington, DC 20005
Website: www.fanniemae.com
Year established: 1938
Company type: government-sponsored enterprise (GSE)
Employees: 8,200+
Expertise: mortgage financing, housing finance, mortgage-backed securities, multifamily rental housing, single-family home lending, mortgage underwriting, secondary mortgage market operations
Parent company: N/A
Key people: Peter Akwaboah (acting CEO and COO); John Roscoe and Brandon Hamara (co-presidents); Erik Bisso, Kelly Follain, and Chryssa Halley (EVPs); Dave Hofman (SVP and CHRO)
Financing status: shareholder-owned company
The Federal National Mortgage Association (Fannie Mae) is a GSE based in Washington, D.C. The firm purchases mortgages from lenders, bundles these mortgages into securities, and sells them to investors to expand mortgage availability. The company served over 1 million households and held $4.3 trillion in assets as of September 2025.
Congress created Fannie Mae in 1938 as President Roosevelt’s response to the Depression’s housing crisis. The firm’s core mission addressed a fundamental problem facing the nation during economic hardship. Stable housing funding became critical for rebuilding the American economy and restoring hope.
After World War II ended, millions of veterans needed homes for their growing families. Fannie Mae purchased mortgages from lenders, freeing up cash to finance more home purchases.
This liquidity allowed communities across America to grow rapidly during the postwar boom. Homeownership expanded throughout the nation as the middle class strengthened and prospered significantly.
The government restructured Fannie Mae through the Charter Act in 1954 as a mixed-ownership corporation. Two decades later, Congress converted it into a private, shareholder-owned firm in 1968.
This transition meant the company now funded operations through stock and bond markets instead. The federal budget no longer supported Fannie Mae, making it self-sufficient and market-driven.
During the 1980s, the firm pioneered mortgage-backed securities that attracted global investors to housing. The firm bundled mortgages and guaranteed investor payments which created deeper markets for home loans.
However, the 2008 financial crisis devastated the housing industry as prices fell sharply. Fannie Mae faced massive losses and came under federal conservatorship through the Federal Housing Finance Agency (FHFA).
The company stabilized and returned to profitability in 2012 after major restructuring efforts. By 2014, the firm repaid all emergency funds and began contributing billions to Treasury. Today, the firm continues serving millions of Americans seeking affordable and stable mortgage financing.
Fannie Mae offers investors guaranteed mortgage-backed securities that deliver stable returns across various portfolio needs:
Fannie Mae maintains rigorous underwriting standards to ensure investment quality across all loan types. The company helps stabilize the housing market while expanding financing access for lenders and borrowers.
Fannie Mae states that it centers on employee work that creates meaningful housing impact. According to the company, it offers comprehensive benefits supporting employee well-being and professional development:
Fannie Mae’s staff participates in the company’s corporate social mission to expand affordable housing nationwide. The firm’s Congressional charter mandates mortgage market liquidity and stable credit, with housing comprising 18 percent of US GDP.
Peter Akwaboah serves as Fannie Mae’s acting CEO and COO, with over three decades of leadership expertise. At Morgan Stanley, he previously worked as managing director, COO for technology, and head of innovation. His education includes multiple engineering degrees, with a first-class honors Bachelor of Engineering from University of Birmingham.
Fannie Mae’s executive leadership team guides the company’s housing mission:
Fannie Mae’s leadership team makes sure the company fulfills its long-standing mission of providing mortgage credit. The team guides strategy and capital allocation to expand housing access nationwide.
Fannie Mae’s 2024 research on older homeowners reveals that they feel confident about retirement and plan to stay in their homes. This survey data helps lenders understand this growing demographic better since the 60-plus group approaches half of all US homeowners. The findings shape Fannie Mae’s mortgage lending strategy for managing wealth and housing needs across this expanding population.
The firm has operated under conservatorship since the 2008 financial crisis, with ongoing debates about its future structure. The Trump administration has reportedly explored potential stock offerings and initial public offerings to transition toward private ownership. These structural changes directly impact mortgage rates, lending availability, and economic stability for American homebuyers and investors.
Legislation approved Wednesday by the House of Representatives that would limit bonuses at government-aided firms may lead more wirehouse brokers to become independent investment advisers, said an attorney who specializes in helping breakaway brokers start their own advisory firms.
A government report says U.S. home prices fell 6.3 percent in January from the same month last year.
Sales of previously occupied homes jumped in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties.
New jobless claims fell more than expected last week, to a seasonally adjusted 646,000.
Companies receiving taxpayer funds under the Troubled Asset Relief Program would be subject to major taxes on executive bonuses under a proposal unveiled Tuesday.
The Federal Reserve announced Wednesday it will spend up to $300 billion over the next six months to buy long-term government bonds, a new step aimed at lifting the U.S. out of recession by lowering rates on mortgages and other consumer debt.
America's financial regulatory system must be overhauled to strengthen oversight of banks, mutual funds and large financial institutions, Federal Reserve Chairman Ben Bernanke said Tuesday.
Aviva PLC, Europe’s biggest provider of life insurance products, posted a loss of $995 million for 2008, down from a profit of $2.98 billion in 2007.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
President Obama and Treasury Secretary Timothy Geithner are resisting calls for the nationalization of Citigroup Inc. and perhaps other large banks.
President Obama’s mortgage plan aims to keep up to 9 million families from losing their homes to foreclosure.
House Financial Services Committee Chairman Barney Frank, D-Mass., last week laid out an ambitious 2009 legislative program for his committee.
Charles Schwab & Co. late last month began waiving fees or reimbursing expenses on its $30.5 billion U.S. Treasury Money Fund, which is used as a sweep account by many clients for their free credit balances — but you had to be something of a detective to discover the move.
Last year was among the worst ever in the history of hedge funds, with $210 billion in losses during the third quarter alone, 693 funds closed through Sept. 30 and an average 16% decline through November.
