A:

Yes, you can buy homes directly from Fannie Mae. Fannie Mae (the Federal National Mortgage Association, or FNMA) is a government-sponsored enterprise (GSE) established in 1938 to expand the flow of mortgage money by creating a secondary mortgage market. As a secondary market participant, Fannie Mae does not lend money directly to consumers. Instead, it keeps liquidity flowing to mortgage lenders (e.g., credit unions, local and national banks, thrifts and other financial institutions) through the purchase and guaranty of mortgages made by these firms.

When foreclosures arise on mortgages in which Fannie Mae is the owner/investor, or when properties are acquired through deeds in lieu of foreclosure or forfeiture, Fannie Mae attempts to sell the properties in a timely manner to minimize potential impacts on the community. Fannie Mae uses the HomePath brand to sell its properties: HomePath.com is the Fannie Mae website where homebuyers and investors can search for and make offers on Fannie Mae-owned properties, and HomePath Mortgage offers buyer financing products for the properties.

HomePath.com includes only properties that are owned by Fannie Mae, including single-family homes, townhouses, and condominiums. Fannie Mae uses local real estate professionals to prepare, maintain and list the properties for sale. Buyers can view listings on the HomePath.com website, and most listings have photographs, property descriptions and other details, including school and neighborhood information. The number, type and sales prices vary greatly by market, as does the condition of the properties. While some homes are move-in ready, others require repairs or even extensive renovations. Each property is sold in "as is" condition, meaning that the buyer accepts the property "as is." Visit www.homepath.com for more information.

RELATED FAQS
  1. How do you use the FNMA selling guide?

    Learn about Fannie Mae Selling Guide and find out details about how its parts provide support to the business relationship ... Read Answer >>
  2. What does FNMA stand for?

    Learn what FNMA is, how it helps low-, moderate- and middle-income families afford a place to live using mortgage liquidity, ... Read Answer >>
  3. What is a Ginnie Mae security?

    A Ginnie Mae, or Government National Mortgage Association security, functions similarly to the process of lending someone ... Read Answer >>
Related Articles
  1. Personal Finance

    What You Need to Know About Fannie Mae Loans

    Fannie Mae (officially the Federal National Mortgage Association, or FNMA) is a government-sponsored enterprise (GSE) – that is, a publicly traded company which operates under Congressional charter ...
  2. Investing

    Fannie Mae: What It Does And How It Operates

    Chances are that you've heard of Fannie Mae. But do you know what it does and how it operates?
  3. Investing

    The Top 5 Fannie Mae Shareholders (FNMA)

    Find about the individuals, funds and companies that are top shareholders of Fannie Mae stock. Learn about their profiles and their relationships with Fannie Mae.
  4. Insights

    Fannie Mae, Freddie Mac And The Credit Crisis Of 2008

    Is the U.S. Congress' failure to rein in these mortgage giants to blame for the financial fallout?
  5. Investing

    Fannie Mae and Freddie Mac, Boon Or Boom?

    These two companies are crucial to the mortgage market, but are they ticking timebombs?
  6. Investing

    Fannie Mae Dives Into Single-Family Rental Market

    Fannie Mae is positioning itself firmly in the rental market. Analysts expect the trend in government-backed securities in the single-family rental arena to continue.
  7. Insights

    How Fannie Mae And Freddie Mac Were Saved

    These mortgage giants had to be put under government conservatorship, driving home the gravity of the subprime crisis.
  8. Personal Finance

    Why Fannie Mae And Freddie Mac Might Be In Trouble

    Fannie Mae and Freddie Mac are under increased scrutiny as debates continue about conservatorship, share price, and profit allocations.
  9. Personal Finance

    Trended Credit Data Could Increase Interest Rates for Borrowers (FNMA, EFX)

    Mortgage lenders will soon be required to use trended credit data to qualify borrowers. As a result, many borrowers could have to take higher interest rates.
  10. Insights

    Freddie Mac May Follow Fannie Mae Into Rental Market

    Freddie Mac may follow Fannie Mae's example and guarantee financing in the single-family rental market.
RELATED TERMS
  1. Herbert M. Allison Jr.

    Became the president and CEO of Fannie Mae in 2008. Fannie Mae ...
  2. Nonconforming Mortgage

    A mortgage that does not meet the guidelines of Government Sponsored ...
  3. Tandem Plan

    A mortgage purchase program subsidized by the U.S. government. ...
  4. Whole Loan

    A single residential or commercial mortgage that a lender has ...
  5. Federal Housing Finance Agency - FHFA

    A U.S. government agency created by the Housing and Economic ...
  6. Conforming Loan

    A mortgage that is equal to or less than the dollar amount established ...
Hot Definitions
  1. Fintech

    Fintech is a portmanteau of financial technology that describes an emerging financial services sector in the 21st century.
  2. Ex-Dividend

    A classification of trading shares when a declared dividend belongs to the seller rather than the buyer. A stock will be ...
  3. Debt Security

    Any debt instrument that can be bought or sold between two parties and has basic terms defined, such as notional amount (amount ...
  4. Taxable Income

    Taxable income is described as gross income or adjusted gross income minus any deductions, exemptions or other adjustments ...
  5. Chartered Financial Analyst - CFA

    A professional designation given by the CFA Institute (formerly AIMR) that measures the competence and integrity of financial ...
  6. Initial Coin Offering (ICO)

    An Initial Coin Offering (ICO) is an unregulated means by which funds are raised for a new cryptocurrency venture.
Trading Center