Voting Station

Fannie Mae

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Corporation

The Resume

    (1938- )
    Also known as the Federal National Mortgage Association
    Headquartered in Washington, D.C.
    Involved in diversified investments
    Government-sponsored public company until taken over by the government (September 8, 2008)

Why Fannie Mae might be annoying:

    They held a monopoly over the secondary mortgage market for 30 years.
    They became a solely publicly held company to remove its debt from the federal budget.
    They were the ultimate 'too-big-to-fail' corporation with over $2 trillion in debt between them and Freddie Mac.
    They lost nearly $74 billion (2009) and $22 billion (2010).
    They guaranteed junk loans, which were packaged and sent all over the world.
    Many thought the government guaranteed their loans when in reality the government did not. But then the government ended up bailing them out anyway.
    They are exempt from state and local taxes.
    They were aggressive in maintaining their status, threatening critical politicians with removal, rewarding the well-connected with jobs within the company and buying an enormous amount of lobbyists.
    They gave out cheaper-than-market mortgages to powerful and well-connected individuals.
    They delisted from the New York Stock Exchange.

Why Fannie Mae might not be annoying:

    Their purpose was to make home ownership more affordable.
    They finally made a profit which means they no longer require bailout money (for now, May 2012).
    They were established by the Franklin Delano Roosevelt's New Deal legislation.
    They guarantee nearly a quarter of the entire $11.8 trillion U.S. home loans.

Credit: D & Captain Howdy


Featured in the following Annoying Collections:

Year In Review:

    For 2024, as of last weekly ranking, Out of 2 Votes: 50.0% Annoying
    In 2023, Out of 5 Votes: 60.0% Annoying
    In 2022, Out of 4 Votes: 50.0% Annoying
    In 2021, Out of 10 Votes: 100% Annoying
    In 2020, Out of 2 Votes: 100% Annoying
    In 2018, Out of 16 Votes: 50.0% Annoying
    In 2017, Out of 18 Votes: 72.22% Annoying
    In 2016, Out of 7 Votes: 85.71% Annoying
    In 2015, Out of 4 Votes: 75.00% Annoying
    In 2014, Out of 18 Votes: 55.56% Annoying
    In 2013, Out of 14 Votes: 57.14% Annoying
    In 2012, Out of 60 Votes: 78.33% Annoying