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Federal National Mortgage Association

From Longman Business DictionaryFederal National Mortgage AssociationˌFederal ˌNational ˈMortgage Associˌation abbreviation FNMA nounORGANIZATIONSBANKINGFINANCE a US government organization that buys home loans that have been GUARANTEED by the Federal Housing Administration and some other insurers, and arranges for these to be resold as SECURITIES on financial markets. The money obtained is then used to make more loans to home buyers SYN FANNIE MAEThe Federal National Mortgage Association reported that earnings rose 16% in the first quarter.
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