Fannie Mae
2
5.6
- proper noun
- /ˈfæn.i meɪ/
- US
:
Fannie Mae
- The network, which includes the Metropolitan Washington Council of Governments and the Nonprofit Roundtable of Greater Washington as well as Fannie Mae and Freddie Mac, will share information among nonprofit groups and banks while coordinating a regional response to the foreclosure crisis.
- Fannie Mae and Freddie Mac
- Fannie Mae, the mortgage giant
- mortgage giants Fannie Mae
Examples
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HARP was designed exclusively for conventional, fixed-rate loans backed by Fannie Mae or Freddie Mac, specifically those that had been securitized before June 1st, 2009.
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Fannie Mae had assets of $0.8 trillion and guarantees (contingent liabilities) of around $1.6 trillion.
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Fannie Mae and Freddie Mac get a pass.
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Fannie Mae and Freddie Mac were a huge disaster.
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The four years since taxpayers took over Fannie Mae and Freddie Mac, spending $140 billion in the process, is too long to wait for reform.
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The US government has taken over Fannie Mae, and the government has always directly interfered in the housing market: FHA, GNMA, etc.
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Recent reports once again highlight the rise of home prices on a national level, and most recently, Freddie Mac and Fannie Mae are both optimistic about their REO inventory status.
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Rather than just talk about reform, a Romney-Ryan Administration will protect taxpayers from additional risk in the future by reforming Fannie Mae and Freddie Mac and providing a long-term, sustainable solution for the future of housing finance reform in our country.
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Some analysts say they're holding off to get more for these units when home prices stabilize, but the fact is (in the case of Fannie Mae) 14% of its inventory is in redemption status and the timelines vary by state.
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During the housing crisis, Fannie Mae played a crucial role in stabilizing the mortgage market by purchasing large volumes of loans.
Synonyms
1
7.2
A US company that buys and guarantees home loans
A US company created by the government that buys and guarantees home loans to help the mortgage market
Surface Forms
Morphology
Fannie + Mae
‘Fannie Mae’ is a proper name composed of two personal names; knowledge of the constituents 'Fannie' and 'Mae' gives no clue that the term refers to a U.S. federally chartered mortgage corporation. Understanding this meaning requires specific cultural and institutional knowledge rather than compositional inference, so a B1 learner who only knows the constituent words would not be able to derive the MWE’s meaning.
Etymology
Fannie Mae may come from reading the old initials FNMA as a name, so people turned the letters into the friendly parts Fannie and Mae. That picture of a helpful person makes it easy to remember that Fannie Mae buys and supports 'mortgages' or 'home loans'.