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NEWS AND UPDATES
- Professional environment
- "Excellent benefits and vacation days"
- Well-known name
- "Pay is "slightly less than competitors"
- Promotions are difficult but not impossible
- Current turmoil
ABOUT THIS COMPANY:The American Dream
Fannie Mae's slogan proclaims, "Our Business is the American Dream," and its mission is to increase opportunities for home ownership among low- and middle-income Americans. Short for Federal National Mortgage Association (or FNMA), Fannie Mae is the leading source of financing for home mortgages, and it owns or guarantees about 20 percent of the home mortgage market in the United States. Since 1968, the company has provided more than $7 trillion in financing to some 73 million families. The firm operates in what is known as the secondary mortgage market. The primary market consists of institutions like mortgage companies, commercial banks, savings and loan associations or credit unions. These groups are the ones that conduct transactions directly with borrowers. The lending institution then has the option either to hold the mortgage in its portfolio or to sell the mortgage into the secondary market. By selling the debt to another entity, the primary lender recoups its money and is able to extend another loan.
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