The Federal National Mortgage Association, commonly known as Fannie Mae, is a government-sponsored enterprise (GSE) that was formed during the Great Depression as part of President Franklin D. Roosevelt’s New Deal. Its purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS). In the wake of the 2008 financial crisis, the Federal Housing Finance Agency (FHFA) placed Fannie Mae and Freddie Mac under the conservatorship of the federal government, where it remains today.

Originally founded in 1938, Fannie Mae is based in Washington, D.C.