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The Complete Guide to Investing in Foreclosures by Steve Berges

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image CHAPTER 10

How to Invest in Fannie Mae Foreclosures

The Federal National Mortgage Association was established in 1938 to increase the amount of money available to borrowers in an effort to spur economic growth in the housing industry. The acronym for the Federal National Mortgage Association is FNMA. When the letters are put together and pronounced verbally, they sound like “Fannie Mae”; hence the name by which the organization is most commonly known.

How Fannie Mae Works

Fannie Mae was designed to operate under a congressional charter that would make the cost of home ownership more affordable to low- to moderate-income families. Unlike most mortgage ...

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