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Federal National Mortgage Association
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. In 2024, with over $4.3 trillion in assets, Fannie Mae is the largest company in the United States and the fifth largest company in the world, by assets. Fannie Mae was ranked number 27 on the ''Fortune'' 500 rankings of the largest United States corporati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-sponsored Enterprise
A government-sponsored enterprise (GSE) is a type of financial services corporation created by the United States Congress. Their intended function is to enhance the flow of Credit (finance), credit to targeted sectors of the economy, to make those segments of the capital market more efficient and transparent, and to reduce the risk to investors and other suppliers of capital. The desired effect of the GSEs is to enhance the availability and reduce the cost of credit to the targeted borrowing sectors primarily by reducing the risk of capital losses to investors: agriculture, Home mortgage, home finance and Education loan, education. Well known GSEs are the Federal National Mortgage Association, known as Fannie Mae, and the Federal Home Loan Mortgage Corporation, or Freddie Mac. Congress created the first GSE in 1916 with the creation of the Farm Credit System. It initiated GSEs in the home finance segment of the economy with the creation of the Federal Home Loan Banks in 1932; and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage-backed Security
A mortgage-backed security (MBS) is a type of asset-backed security (an "Financial instrument, instrument") which is secured by a mortgage loan, mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment bank) that securitization, securitizes, or packages, the loans together into a security that investors can buy. Bonds securitizing mortgages are usually treated as a separate class, termed Residential mortgage-backed security, residential; another class is Commercial mortgage-backed security, commercial, depending on whether the underlying asset is mortgages owned by borrowers or assets for commercial purposes ranging from office space to multi-dwelling buildings. The structure of the MBS may be known as pass-through security, "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Budget (United States)
The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies. The government primarily spends on healthcare, retirement, and defense programs. The non-partisan Congressional Budget Office provides extensive analysis of the budget and its economic effects. The budget typically contains more spending than revenue, the difference adding to the federal debt each year. CBO estimated in February 2024 that federal debt held by the public is projected to rise from 99 percent of GDP in 2024 to 116 percent in 2034 and would continue to grow if current laws generally remained unchanged. Over that period, the growth of interest costs and mandatory spending outpaces the growth of revenues and the economy, driving up debt. Those factors persist beyond 2034, pushing federal debt higher still, to 172 percent of G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Archives And Records Administration
The National Archives and Records Administration (NARA) is an independent agency of the United States government within the executive branch, charged with the preservation and documentation of government and historical records. It is also tasked with increasing public access to those documents that make up the National Archives. NARA is officially responsible for maintaining and publishing the legally authentic and authoritative copies of acts of Congress, presidential directives, and federal regulations. NARA also transmits votes of the Electoral College to Congress. It also examines Electoral College and constitutional amendment ratification documents for prima facie legal sufficiency and an authenticating signature. The National Archives, and its publicly exhibited Charters of Freedom, which include the original United States Declaration of Independence, Constitution of the United States, United States Bill of Rights, Emancipation Proclamation (starting in 2026), and m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing And Home Finance Agency
The Housing and Home Finance Agency (HHFA) was responsible for the principal housing programs of the United States from 1947 to 1965. It was superseded by the U.S. Department of Housing and Urban Development and preceded by the National Housing Agency. The HHFA was led by former Federal Housing Administration Commissioner, Raymond M. Foley, from its inception in 1947 to 1953 and by former Kansas Congressman Albert M. Cole from 1953 to 1959 where he oversaw the Housing Act of 1954.https://www.eisenhowerlibrary.gov/sites/default/files/research/online-documents/presidential-appointment-books/1954/august-1954.pdf In 1960 Jack T. Conway became the Deputy Administrator and acting Administrator until Robert C. Weaver's appointment in February 1961 through to its dissolution in 1965 when Robert C. Weaver took over as the Secretary of the superseding Department of Housing and Urban Development. Organizational history HHFA was established as a permanent agency by Reorganization Plan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Housing Administration
The Federal Housing Administration (FHA), also known as the Office of Housing within the Department of Housing and Urban Development (HUD), is a Independent agencies of the United States government, United States government agency founded by President Franklin D. Roosevelt, Franklin Delano Roosevelt, established in part by the National Housing Act of 1934. Its primary function is to provide Mortgage insurance, insurance for mortgages originated by private lenders for various types of properties, including single-family homes, multifamily rental properties, hospitals, and residential care facilities. FHA mortgage insurance serves to safeguard these private lenders from financial losses. In the event that a property owner Default (finance), defaults on their mortgage, FHA steps in to compensate the lender for the outstanding principal balance. Under this insurance arrangement, lenders assume a diminished level of risk, thereby allowing them to offer a larger number of mortgages. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franklin Delano Roosevelt
Franklin Delano Roosevelt (January 30, 1882April 12, 1945), also known as FDR, was the 32nd president of the United States, serving from 1933 until his death in 1945. He is the longest-serving U.S. president, and the only one to have served more than two terms. His first two terms were centered on combating the Great Depression, while his third and fourth saw him shift his focus to America's involvement in World War II. A member of the prominent Delano and Roosevelt families, Roosevelt was elected to the New York State Senate from 1911 to 1913 and was then the assistant Secretary of the Navy under President Woodrow Wilson during World War I. Roosevelt was James M. Cox's running mate on the Democratic Party's ticket in the 1920 U.S. presidential election, but Cox lost to Republican nominee Warren G. Harding. In 1921, Roosevelt contracted a paralytic illness that permanently paralyzed his legs. Partly through the encouragement of his wife, Eleanor Roosevelt, he ret ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Housing Act Of 1934
The National Act of 1934, , , also called the Better Housing Program, was part of the New Deal passed during the Great Depression in order to make housing and home mortgages more affordable. It created the Federal Housing Administration (FHA) and the Federal Savings and Loan Insurance Corporation (FSLIC). The Act was designed to stop the tide of bank foreclosures on family homes during the Great Depression The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and .... With this, President Franklin D. Roosevelt used this act to fulfill his goal towards a government program funded by private investments, avoiding the reliance on taxpayer funds. The passing of the bill alleviated unemployment by making credit more accessible through banks and lending organizations. Both the FHA and the FS ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balloon Payment Mortgage
A balloon payment mortgage is a mortgage loan, mortgage that does not fully amortization (business), amortize over the term of the mortgage note, note, thus leaving a balance due at Maturity (finance), maturity.Wiedemer, John P, ''Real Estate Finance, 8th Edition'', p 109-110 The final payment is called a ''balloon payment'' because of its large size. Balloon payment mortgages are more common in Commercial property, commercial real estate than in residential real estate today due to the prevalence of mortgages with longer periods of amortization, in particular, the 30-year fixed-rate mortgages.Fabozzi, Frank J. (ed), ''Handbook of Mortgage-Backed Securities, 6th Edition'', p 1125 A balloon payment mortgage may have a fixed or a floating interest rate. The most common way of describing a ''balloon loan'' uses the terminology ''X'' due in ''Y'', where ''X'' is the number of years over which the loan is amortized, and ''Y'' is the year in which the principal balance is due. An exampl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage
A mortgage loan or simply mortgage (), in civil law (legal system), civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "collateral (finance), secured" on the borrower's property through a process known as mortgage origination. This means that a Mortgage law, legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Legal professions in England and Wales, Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken throu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fannie Mae Reston Office
Fannie is a given name. Notable people with the name include: * Fannie Fern Andrews (1867–1950), American lecturer, teacher, social worker and writer * Fannie Barrios, Venezuelan bodybuilder * Fannie Birckhead (1935–2022), American community organizer, judge, and politician * Fannie Lee Chaney (1921–2007), American baker turned civil rights activist * Fannie Brackett Damon (1857–1939), American writer, magazine editor * Fannie Hardy Eckstorm (1865–1946), American writer, ornithologist and folklorist * Fannie Farmer (1857–1915), American culinary expert and author * Fannie Flagg (born 1944), American actress, comedian and author * Fannie Gaston-Johansson (1938–2023), American professor of nursing * Fannie Lou Hamer (1917–1977), American voting rights activist * Fannie Hillsmith (1911–2007), American cubist painter * Fannie Hurst (1885–1968), American novelist * Fannie Kauffman (1924–2009), Mexican comedian and actress * Fannie Heaslip Lea (1884–1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by '' Fortune'' magazine. Methodology Until 1989, it listed only non–United States industrial corporations under the title "International 500" while the ''Fortune'' 500 contained and still contains exclusively United States corporations. In 1990, United States companies were added to compile a truly global list of top industrial corporations as ranked by sales. Since 1995, the list has had its current form, listing also top financial corporations and service providers by revenue. Several inconsistencies exist in ''Fortune'' ranking of cities with the most ''Fortune'' 500 headquarters. On June 3, 2011, the '' Atlanta Business Chronicle'' stated examples of ''Fortune'' including regional headquarters for some cities, excluding regional headquarters for other cities and in some cases excluding headq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
