A slang term used to describe a pool of mortgage backed securities (MBSs) that have been issued by Fannie Mae and have a maturity of 15 years.


Fannie Mae is short for the Federal National Mortgage Association. It is one of the governing bodies that are able to issue MBS that are guaranteed by the U.S. government or by an independent governing body in the secondary market. The other official bodies are Freddie Mac and Ginnie Mae. Ginnie Mae has the authority to guarantee MBS issues from qualified private lenders which meet a set of stringent criteria.

  1. Midgets

    A slang term referring to a Government National Mortgage Association ...
  2. Fannie Mae - Federal National Mortgage ...

    A government-sponsored enterprise (GSE) that was created in 1938 ...
  3. Maturity Date

    The date on which the principal amount of a note, draft, acceptance ...
  4. Ginnie Mae - Government National ...

    A U.S. government corporation within the U.S. Department of Housing ...
  5. Freddie Mac - Federal Home Loan ...

    A stockholder-owned, government-sponsored enterprise (GSE) chartered ...
  6. Mortgage-Backed Security (MBS)

    A type of asset-backed security that is secured by a mortgage ...
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