The Federal National Home Mortgage Organization (FNMA), generally known as Fannie Mae, is an USA government-sponsored enterprise (GSE) and also, considering that 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the firm's objective is to increase the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), permitting lending institutions to reinvest their possessions into even more borrowing and also in effect enhancing the variety of loan providers in the mortgage market by decreasing the reliance on in your area based savings and loan associations (or "thrifts"). Its sibling company is the Federal Mortgage Home Loan Firm (FHLMC), much better known as Freddie Mac. As of 2018, Fannie Mae is placed number 21 on the Ton of money 500 rankings of the largest United States firms by complete profits.