The Federal National Mortgage Organization (FNMA), commonly known as Fannie Mae, is a United States government-sponsored business (GSE) and also, considering that 1968, a publicly traded company. Founded in 1938 throughout the Great Anxiety as part of the New Deal, the company's function is to increase the additional home mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), allowing loan providers to reinvest their assets right into even more loaning and basically enhancing the variety of loan providers in the home loan market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its sibling company is the Federal Home Loan Home Mortgage Company (FHLMC), better called Freddie Mac. Since 2018, Fannie Mae is rated number 21 on the Fortune 500 positions of the biggest United States companies by complete profits.