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Fannie Mae is the common name for the Federal National Mortgage Association, a stock holder owned organization that last year was put under the control of the government because significant liquidity issues. There is a good chance they are the owner of the deed of your property and if thats the case you may be eligible for federal relief.

During the great depression government officials wanted to encourage home ownership as a mean to reduce suffering of low income people. To accomplish this congress created Fannie Mae with instructions to increase home ownership rates. This was done by securitizing home loans through Fannie Mae which provided a stable supply of money for home loan lenders.

In’68 the government changed the once public institution into a privately owned company under the control of a board of directors. As a government sponsored enterprise its existence has been the object of criticism for its links to the government and semi public classification.

In late 2008 the collapse in the domestic mortgage market forced the FHFA to put Fannie Mae into conservatorship. Once again the institution was under the control of the the federal government.

It was believed that at that time Fannie Mae and the similar corporation Freddie Mac backed about one half of the United States $12 trillion dollar property loan market. It had an operating loss of a little more than $5 billion in 2007 and a total exceeding $880 billion in assets to close 2007.

With all of the companies business closely linked in just about every aspect of the US property market the financial crisis compelled the government to step in with public assistance.

Many experts suspected that Fannie Mae and Freddie Mac were supported by the federal government and once those suspicions proved true the federal government assumed significant control with those organizations. That government influence is being utilized to implement programs to help distressed borrowers.

If you are a homeowner with a mortgage guaranteed by Fannie Mae you may qualify for mortgage assistance.

The author has significant experience as a mortgage associate and understands how mortgage holders can obtain foreclosure assistance, many times with government assistance programs

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