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TeachMeFinance.com - explain FNMA FNMA -- see Federal National Mortgage Association. Federal National Mortgage Association (FNMA) -- a corporation created by Congress to facilitate the secondary mortgage market. Popularly known as Fannie Mae. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.