What Are Fannie Mae Mortgage Lenders?

As of 2009, Fannie Mae is the largest purchaser of mortgage loans in the U.S. Mortgage lenders must be approved by Fannie Mae to make, sell and service its mortgage loans. Fannie Mae does not deal directly with homeowners, but Fannie Mae lenders provide a variety of programs and policies to help people buy and keep their homes.

Industry Standard

Fannie Mae's mortgage underwriting and servicing guidelines are considered the industry standard for mortgage lenders and loan servicing. Mortgage lenders must fully document borrowers' income, employment and credit and lend within Fannie Mae's published loan limits.

Mortgage Money

Fannie Mae buys mortgage loans from its approved lenders. Fannie Mae lenders use the proceeds from selling loans to Fannie Mae for funding more mortgage loans. This system is called the secondary mortgage market, and it helps to ensure an ongoing stream of funds for making mortgage loans. .

Who's Who

Although Fannie Mae buys mortgage loans, it pays mortgage loan servicing companies to collect mortgage payments and provide customer service to homeowners. Go to loanlookup.fanniemae.com (see Resources) to determine if your mortgage loan is owned by Fannie Mae.

Getting Help

Fannie Mae is dedicated to helping people buy and keep their homes. It provides approved lenders with a variety of programs for assisting homeowners in need. If your mortgage is owned by Fannie Mae, contact your loan servicing company (the company that accepts your mortgage payments) for help.

Lender Transfers

A Fannie Mae lender may transfer some or all of its loan servicing portfolio to another approved lender. Homeowners are notified of these transfers and provided with new contact information.

References

• About Fannie Mae

Resources

• Fannie Mae Loan Look-up