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Definition of

Federal National Mortgage Association


US institution financing housing the largest source of financing for housing in the United States, which funds mortgages by issuing debt securities in US and international securites markets. It was created in 1938 as a federal agency and chartered in 1968 by the US Congress as a stockholder-owned private company. On September 7, 2008, after the association reported billions of dollars in losses from subprime loans, its government regulatory agency, the Federal Housing Finance Agency put the association under its conservatorship. In addition, the US Treasury agreed to provide up to $100 billion of capital as needed to ensure its continued operation.

Related definitions of "Federal National Mortgage Association"

Definitions of ’Federal National Mortgage Association’ and meaning of ’Federal National Mortgage Association’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Federal National Mortgage Association’ and other financial terms with our online QFINANCE Financial Dictionary.

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