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|Fannie Mae is also commonly known as Federal National Mortgage Association (FNMA) and it is a government sponsored enterprise founded during the time of the Great Depression. The main objective of the company is to maintain liquidity, stability as well as affordability in the US mortgage and housing markets. Fannie Mae mainly works in the secondary mortgage market of the country. Rather than offering home loans directly to the consumers, the company works with brokers, mortgage bankers and several other mortgage market partners to make sure that sufficient funds are available to lend at affordable rates to potential home buyers.
Fannie Mae History
Fannie Mae was originally founded in 1938 as a federal agency to build a better secondary mortgage market. Later in 1968, the agency was chartered by the Congress and it was converted into a private shareholder-owned company. In 1970, Fannie Mae was authorized by the federal government to buy private mortgages, which were not insured by FHA, FmHA or the VA. In the same year, the company created Freddie Mac (Federal Home Loan Mortgage Corporation) to facilitate a more efficient and stronger mortgage market. James Lockhart, the director of Federal Housing Finance Agency also announced FHFA as the conservator of Fannie Mae on 6th September, 2008.
Fannie Mae Careers
Fannie Mae brings a huge variety of jobs and career opportunities for bright and talented job seekers available in the market. The company operates three primary lines of business, i.e. Single Family, Capital Markets and Housing and Community Development. Fannie Mae has a large number of job openings in its lines of business from time to time. The work locations of the corporation can also be found in several places that include Dallas, Atlanta, Chicago, Philadelphia, Washington, Pasadena and many others. Some of the current job openings with Fannie Mae are for the post of:
- Government Relations Associate
- Financial Analyst III
- Business Analyst III
- eBusiness Development and Implementation Manager
- Director, Market Risk
- Senior Business Analyst, Risk Governance & Controls (Defined Duration Assignment)
- Director, HAMP Reporting & Analytics
- Data Mining Analyst II
- Director, Product Strategy and Support
- Associate General Counsel, Government Initiatives
- Financial Analyst Manager, etc.
Fannie Mae Foreclosures
Fannie Mae and Freddie Mac work hand in hand to reduce the rate of home foreclosures in the United States. They provide exclusive information and contact numbers of mortgage help centers for those borrowers who are most likely to face foreclosure. Fannie Mae also suggests several options to avoid home foreclosures such as refinance, forbearance, modification, short sale, deed-for-lease, and deed-in-lieu of foreclosure. For more comprehensive information on Fannie Mae stock, guidelines, loans, student loans, loan lookup, bailout, forms and grants, one may visit the official website of the agency. Also contact the Resource Center for further assistance by calling at 1-800-732-6643.
Fannie Mae Headquarters Address
3900 Wisconsin Avenue, N.W.
Washington, D.C. 20016