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English definition of “Fannie Mae”

Fannie Mae

noun     US FINANCE
short for Federal National Mortgage Association: an official organization in the US that buys and sells loans in order to raise money to lend to house buyers. Fannie Mae was taken under Federal government control in 2008: The US treasury injected $15 billion of capital into Fannie Mae and Freddie Mac to stem the crisis at America’s biggest mortgage firms. → See also Freddie Mac, Ginnie Mae
(Definition of Fannie Mae noun from the Cambridge Business English Dictionary © Cambridge University Press)
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