Fannie Mae - Law Dictionary Search Results
Home Dictionary Name: fannie maefannie mae
fannie mae Federal National Mortgage Association (FNMA); a federally-chartered enterprise owned by private stockholders that purchases residential mortgages and converts them into securities for sale to investors; by purchasing mortgages, Fannie Mae supplies funds that lenders may loan to potential homebuyers. Also known as a Government Sponsored Enterprise (GSE). Source: U.S. Department of Housing and Urban Development ...
ginnie mae
ginnie mae Government National Mortgage Association (GNMA); a government-owned corporation overseen by the U.S. Department of Housing and Urban Development, Ginnie Mae pools FHA-insured and VA-guaranteed loans to back securities for private investment; as With Fannie Mae and Freddie Mac, the investment income provides funding that may then be lent to eligible borrowers by lenders. Source: U.S. Department of Housing and Urban Development ...
conforming loan
conforming loan is a loan that does not exceed Fannie Mae's and Freddie Mac's loan limits. Freddie Mac and Fannie Mae loans are referred to as conforming loans. Source: U.S. Department of Housing and Urban Development ...
jumbo loan
jumbo loan or non-conforming loan, is a loan that exceeds Fannie Mae's and Freddie Mac's loan limits. Freddie Mac and Fannie Mae loans are referred to as conforming loans. Source: U.S. Department of Housing and Urban Development ...
non-conforming loan
non-conforming loan is a loan that exceeds Fannie Mae's and Freddie Mac's loan limits. Freddie Mac and Fannie Mae loans are referred to as conforming loans. Source: U.S. Department of Housing and Urban Development ...
gse
gse abbreviation for government sponsored enterprises; a collection of financial services corporations formed by the United States Congress to reduce interest rates for farmers and homeowners. Examples include Fannie Mae and Freddie Mac. Source: U.S. Department of Housing and Urban Development ...
medium term notes
medium term notes unsecured general obligations of Fannie Mae with maturities of one day or more and with principal and interest payable in U.S. dollars. Source: U.S. Department of Housing and Urban Development ...
mortgage banker
mortgage banker a company that originates loans and resells them to secondary mortgage lenders like Fannie Mae or Freddie Mac. Source: U.S. Department of Housing and Urban Development ...
mortgage-backed security (mbs)
mortgage-backed security (mbs) a Fannie Mae security that represents an undivided interest in a group of mortgages. Principal and interest payments from the individual mortgage loans are grouped and paid out to the MBS holders. Source: U.S. Department of Housing and Urban Development ...
Mae West
An inflatable life jacket originally used as a personal flotation device by aviators downed at sea...
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