FEDERAL NATIONAL MORTGAGE ASSOCIATION Definition

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FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) is a private corporation chartered by the U.S. Government to provide mortgage money for home buyers. FNMA buys mortgages from lenders and sells mortgages to investors. FNMA guarantees the timely payment of both interest and principal. Also known as "Fannie Mae".

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SENSITIVE LIABILITIES normally refers to interest rate sensitive liabilities (i.e., liabilities where there is a floating interest rate).

LIABILITY, in accounting, is a loan, expense, or any other form of claim on the assets of an entity that must be paid or otherwise honored by that entity.

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