The Federal National Home Mortgage Association (FNMA), commonly referred to as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, because 1968, an openly traded business. Founded in 1938 during the Great Anxiety as part of the New Deal, the corporation's function is to expand the additional home loan market by securitizing mortgage in the form of mortgage-backed safety and securities (MEGABYTESES), permitting loan providers to reinvest their possessions right into more lending and effectively increasing the variety of loan providers in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother company is the Federal Home Mortgage Home Loan Company (FHLMC), much better called Freddie Mac. Since 2018, Fannie Mae is rated number 21 on the Lot of money 500 rankings of the biggest USA firms by complete income.