Full-Time
Posted on 8/26/2024
Facilitates mortgage financing and affordable housing
No salary listed
Senior
Remote in USA
Open to remote work.
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Fannie Mae operates in the U.S. housing finance market by purchasing mortgages from lenders, which helps these lenders maintain cash flow and offer more loans to consumers. The company buys mortgages from banks and financial institutions, holding some in its portfolio while packaging others into mortgage-backed securities (MBS) that are sold to investors. This process provides a steady flow of capital back into the housing market, promoting homeownership and rental opportunities. Fannie Mae earns revenue through fees for guaranteeing payments on MBS and from interest on its mortgage portfolio. Unlike its competitors, Fannie Mae plays a vital role in ensuring the stability and affordability of the housing market while also engaging in community service and promoting workplace diversity. The company's goal is to facilitate access to affordable housing for a diverse range of clients, including homebuyers, homeowners, and renters.
Company Size
10,001+
Company Stage
IPO
Headquarters
Washington DC, District of Columbia
Founded
1938
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Flexible Work Hours
Stucky, who, according to his LinkedIn profile, is a retired heating, ventilation and air conditioning (HVAC) executive, was appointed vice chair of Fannie Mae's board on April 10, the company disclosed Monday in a regulatory filing.
Business executive Omeed Malik joins Fannie Mae's board.
Fannie Mae recently laid off 700 employees, with approximately 200, predominantly of Telugu origin, dismissed on ethical grounds.
Fannie Mae lays off 100 workers citing unethical conduct.
Reports suggest that 700 people were laid off at Fannie Mae last Thursday and Friday, but no official announcements have been issued.