The underlying goal since its foundation has been to provide affordable mortgages and make the dream of owning a home in the United States a reality. In 1968, Fannie Mae went private in order to purchase government backed and non-government backed mortgages. It was founded as the Federal National Mortgage Association, and the acronym for the organization was pronounced “Fannie Mae”, thus earning the organization the nickname for years to come. It’s easy to see that making owning a home a safe and affordable process has been an American focus for many years. ![]() ![]() The organization stretches all the way back to the reforms that occurred after the Great Depression under Franklin Delano Roosevelt. Fannie Mae is actually an organization that’s much older than people expect.
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