The Federal National Mortgage Association was formed in part to:

Question

Quizplus · Accepted Answer

The Federal National Mortgage Association, also known as Fannie Mae, was established in 1938 to buy Federal Housing Administration (FHA) mortgages in order to increase the availability of affordable housing. It later expanded its role to purchase and sell conventional mortgages as well. While Fannie Mae works closely with the Department of Veterans Affairs (VA), it does not exclusively buy and sell VA mortgages. Therefore, choice A is incorrect. Choice C is partially correct, as Fannie Mae does buy and sell conventional mortgages, but it originally started with FHA mortgages, making choice B the best answer.

The Federal National Mortgage Association Was Formed in Part To