The Federal National Home Mortgage Organization (FNMA), commonly referred to as Fannie Mae, is an USA government-sponsored enterprise (GSE) as well as, because 1968, a publicly traded business. Established in 1938 throughout the Great Depression as part of the New Deal, the company's function is to increase the additional home loan market by securitizing mortgage in the form of mortgage-backed securities (MEGABYTESES), permitting loan providers to reinvest their assets right into even more lending and in effect raising the variety of lending institutions in the home mortgage market by lowering the dependence on in your area based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better referred to as Freddie Mac. Since 2018, Fannie Mae is placed number 21 on the Fortune 500 positions of the biggest USA corporations by overall income.