Business and Personal Finance Dictionary

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• FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) ALSO KNOW AS FANNIE MAE
  
  A tax-paying corporation created by Congress that purchases and sells conventional residential mortgages as well as those insured by FHA or guaranteed by VA to add cash to the mortgage market. This institution, which provides funds for one in seven mortgages, makes mortgage money more available and more affordable.
  
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