Fannie Mae, formally known as the Federal National Mortgage Association (FNMA), is a government-sponsored enterprise (GSE) created in 1938 during the Great Depression. It aims to expand the secondary mortgage market by securitizing mortgage loans into mortgage-backed securities (MBS), allowing lenders to reinvest in additional lending and increasing the number of mortgage lenders. Fannie Mae doesn't provide mortgages directly to borrowers but buys and guarantees them. As of 2024, Fannie Mae provided $381 billion in liquidity to the U.S. housing market, supporting 1.4 million households. Fannie Mae plays a central role in the U.S. housing finance system, ensuring mortgage market liquidity and stability.
Recent leadership changes have seen Peter Akwaboah appointed as Acting CEO, replacing Priscilla Almodovar. John Roscoe and Brandon Hamara have been named as co-presidents. In February 2026, Fannie Mae reported a net income of $3.5 billion for the fourth quarter of 2025 and $14.4 billion for the full year. The company's market capitalization was $9.39 billion as of February 2026. Fannie Mae's mission is to provide liquidity, stability, and affordability to the U.S. housing finance system.
