The Federal National Home Loan Association (FNMA), frequently called Fannie Mae, is an USA government-sponsored venture (GSE) and, considering that 1968, an openly traded firm. Established in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to broaden the second home mortgage market by securitizing home loan in the form of mortgage-backed securities (MBS), enabling lending institutions to reinvest their possessions right into even more lending as well as basically raising the number of lending institutions in the home loan market by minimizing the reliance on in your area based savings and loan associations (or "thrifts"). Its bro organization is the Federal Home Loan Home Mortgage Corporation (FHLMC), much better known as Freddie Mac. Since 2018, Fannie Mae is ranked number 21 on the Lot of money 500 rankings of the biggest USA firms by overall earnings.