from The American Heritage® Dictionary of the English Language, 4th Edition
- n. A security issued by the Federal National Mortgage Association and secured by a pool of federally insured and conventional mortgages.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- proper n. Widely-used nickname for the Federal National Mortgage Association (FNMA), a stockholder-owned corporation sponsored by the US government, established in 1938 and partially privatized in 1968.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. a federally chartered corporation that purchases mortgages
Indeed, as your Oct. 4, 2004, editorial Fannie Mae Enron?
Your May 31 editorial " Republicans for Lawsuits " suggests that Ohio's securities fraud class-action suit against Fannie Mae is unfounded.
Their so-called agency problem as well as that of Fannie Mae and Freddie Mac is just economic jargon for bad incentives to provide investors with a little packaged truth about real economic riskrisk that was historically recognized in the sizable down payment requirements.
But its time to phase out Fannie Mae and Freddie Maclet them go the way of the S&L.
In fact, Fannie Mae's two government regulators, the Securities and Exchange Commission and the Office of Federal Housing Enterprise Oversight, made the same fraud allegations as in our complaint, and Fannie Mae settled those allegations the very same day, agreeing to pay $400 million in civil money penalties.
Because Fannie Mae now has a bottomless coffer of U.S. taxpayer dollars from which to pay its legal bills.