More commonly known as "Fannie Mae," the purpose of the federal mortgage oversight company is to create liquidity in the secondary mortgage market through buying mortgage loans from banks and other loan originators. Fannie Mae packages the loans and sells them to investors as mortgage-backed securities MBS.
Lenders use the cash they get from selling mortgages to Fannie Mae to lend to other customers. Fannie Mae became a publicly traded corporation in The company was delisted from the New York Stock Exchange after it was placed in government conservatorship as a result of the losses it sustained during the subprime housing crisis of Fannie Mae investors continue to buy and sell shares sold through over-the-counter trading OTC.
Below are the top five holders of Fannie Mae shares. Former Fannie Mae senior vice president Joseph J. Grassi is the top major direct holder of Fannie Mae shares. LLC as general counsel. Grassi was a senior vice president and general counsel with Fannie Mae from to During his time at Fannie Mae, he helped to develop the company's recovery strategy from the housing crisis of Johnson held 6, shares of Fannie Mae stock as of November She joined Fannie Mae in and serves as chief risk officer and senior vice president.
Her responsibilities include monitoring the company's exposure to risks in the housing lending market and setting organizational credit policies. Johnson has also been responsible for oversight of other Fannie Mae programs, including the Delegated Underwriting and Servicing DUS that finances multifamily rental housing.
Johnson's specialties at Credit Suisse included fixed-income sales by banks and U. Johnson also worked as an equity trader specializing in derivatives. Cianci held 6, shares of Fannie Mae stock. Cianci joined Fannie Mae as counsel in Since , she has been a senior vice president with oversight of the single-family credit portfolio management division. Previously, Cianci held various executive leadership roles at Fannie Mae. She was senior vice president of the Making Home Affordable program from to Some of Cianci's executive roles at Fannie Mae include leadership of divisions focused on community outreach.
She was senior vice president of giving and community outreach and housing and community development, and vice president of the Fannie Mae office of community and charitable giving. Cianci was also a director of the Fannie Mae eBusiness and legal divisions. Cianci holds degrees in law and economics from the University of Pennsylvania.
William Harris Investors Inc. The Chicago-based, privately held investment advisor specializes in an array of investment strategies, including real estate, hedge funds and public and private equities. As of March , the company held , Fannie Mae shares. Fairholme mutual funds held a total of Dictionary Term Of The Day.
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