FNMA (Federal National Mortgage Association) is a shareholder owned,
publicly traded, corporation that purchases mortgages, converts them into
mortgage backed securities and then sells the securities to investors.
FNMA guarantees repayment of principle and interest to the mortgage
holders (the investors).
The FNMA is also called Fannie Mae.
Fannie Mae's mortgage backed securities do not enjoy the full faith and
credit of the U. S. government. For that guarantee, you'll have to invest in
Ginnie Maes. The ticker symbol for Fannie Mae's stock is FNM.