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| Definitions by InvestorWords.com |
| What is...? |
| Federal National Mortgage Association (FNMA) A congressionally chartered corporation which buys mortgages on the secondary market, pools them and sells them as mortgage-backed securities to investors on the open market. Monthly principal and interest payments are guaranteed by FNMA but not by the U.S. Government. also called Fannie Mae. see also agency securities, association. |
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