FannieMae.com
| shop5 Rank: | 3 of 5 Mortgages |
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| Headquarters: | 3900 Wisconsin Avenue NW, Washingon, D.C., 20016-2892, USA |
| Year Founded: | 1938 CEO: Daniel H. Mudd Stock Code: FNM |
| What We Say: | Fannie Mae, or the Federal National Mortgage Association, defines itself as “a shareholder-owned company with a public mission” that exists “to expand affordable housing and bring global capital to local communities.” Initially established during the New Deal era to enhance access to mortgage funds and lower the costs of home buying, today’s publicly traded Fannie Mae now offers consumers a huge lender network and lots of industry information online. |
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Worth Knowing
| Useful Tools | "Tip Sheets" and "Worksheets" on home-buying and mortgage processes. Alphabetical list of lender partners organized by state. |
| $$$ | Loan limits- One-family loans: $417,000. Two-family loans: $533,850. Three-family loans: $645,300. Four-family loans: $801,950. Second mortgages- $208,500 and $312,750 in Alaska, Hawaii, Guam, and the U.S. Virgin Islands. |
| Pros | Succinct writing clearly explains various site sections. As comprehensive as it gets in terms of lender partner network. |
| Cons | Despite the present-day Wall Street status and an online "Employee Code of Conduct," Fannie Mae is a government agency complete with a bureaucratic customer service mentality. (Do your best to figure out which of the 16 listed departments you need to talk to.) |