2013 Progress Report
ii

Letter from the CEO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Key Business Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

Our History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

A Different Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Improved Financial Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  1

Better Credit Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  1

Homes Matter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  1

Providing Access to Affordable Mortgage Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  1

Sustainable Homeownership...

Quality Rental Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  2

Our Role in the Recovery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  2

A Focus On Foreclosure Prevention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  2

A Safer System for Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  2

Building for the Future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  2

Our Culture of Giving Back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  3

Helping Those Without Homes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  3

Giving Back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  3

For more information on our business, including information on our 2013 financial results and credit performance, the credit profile of our book of business, our expectations 

for our future financial performance, and significant risks relating to our business, see our annual report on Form 10-K for the year ended December 31, 2013, filed with the 

Securities and Exchange Commission on February 21, 2014 (“2013 Form 10-K”).

This report includes our expectations regarding our future financial results, future profitability, our future dividend payments to Treasury, the future profitability, caliber 

and credit performance of the loans in our new single-family book of business, and the impact of reforms on the U.S. housing finance system. These expectations are 

forward-looking statements based on our current assumptions regarding numerous factors. Our actual results and future expectations may differ materially from our current 

expectations as a result of home price changes, unemployment rates, other macroeconomic and housing market variables, future legislative or regulatory requirements, 

borrower behavior, and many other factors, including those discussed in the “Risk Factors” section of and elsewhere in our 2013 Form 10-K. These forward-looking statements 

are representative only as of the date they are made, and we undertake no obligation to update any forward-looking statement as a result of new information, future events 

or otherwise, except as required under the federal securities laws.

Published February 24, 2014
2

Home.

It is a word that can mean very different things to different people. For 

homeowners and renters, perhaps it 

is a place to raise a family. For those 

who build or invest in housing, it can 

be a career or a way to improve the 

local community. For those without 

a home, it might be the dream of a 

safe, warm place to live. 

Whatever “home” means to you, 

Fannie Mae is committed to making 

it possible.

In our role in the mortgage market, we 

provide affordable, large-scale access 

to housing in America. We do this 

by buying the loans that banks and 

other lenders originate so they have 

the funds to issue new loans, which 

enables more people across the country to buy, refinance, or rent a home. 

This process helps create stability 

in the housing market and attracts 

global capital to America. For the individual, it means affordable mortgage 

credit is available across the country 

at all times. For our nation, it means a 

more stable economy.

We are proud of the role we play in 

America’s housing finance system. 

More importantly, we are improving 

the way we perform that role in 

order to meet the needs of an 

ever-changing market. Fannie Mae 

today is different than it was in the 

past. In the last five years, we have 

supported the housing recovery, 

strengthened our company, and 

improved the way we and industry 

partners do business. We are 

working to fix the defects of the old 

system and we are helping to build 

a safer, more sustainable housing 

finance system for the future. In 

2013, we continued to see our 

progress against these priorities.

Our financial performance has 

improved significantly during the 

past few years. In 2013, we reported 

$84.0 billion in net income and $38.6 

billion in pre-tax income, the highest 

annual income and annual pre-tax 

income in our company’s history. The 

fourth quarter of 2013 marked our 

eighth consecutive quarterly profit, 

and we expect to be profitable for the 

foreseeable future. We expect our 

annual earnings to remain strong over 

the next few years, but substantially 

lower than in 2013. 

Fannie Mae's profits go back to 

taxpayers. We will have paid a total 

of $121.1 billion in dividends to 

Treasury as of March 2014, which is 

approximately $5 billion more than 

we have received in taxpayer support.

Additionally, we have strengthened 

our underwriting and eligibility 

standards to promote sustainable 

homeownership and stability in the 

housing market. Roughly 77 percent 

of the loans in our $2.9 trillion 

single-family guaranty book were 

purchased between 2009 and 2013, 

and we expect this new single-family 

book will be profitable over its 

lifetime. Our multifamily credit book 

also continues to perform well – as it 

did throughout the credit crisis – with 

extremely low delinquency rates. 

We also have helped people keep 

their homes or otherwise avoid 

foreclosure by completing more 

than 1.5 million workout solutions 

since 2009. In 2013, we completed 

234,000 foreclosure prevention 

solutions. Less than 1 percent of the 

single-family loans in our book went 

into foreclosure in 2013, and we 

strive to help every at-risk family find 

an alternative to foreclosure.

We have made significant progress 

in improving our business and we 

remain committed to working with 

FHFA to meet its strategic goals for 

our conservatorship. We are seeing 

the results of our efforts to build a 

strong new book of business and 

we continue to work on our goal 

of improving the nation's housing 

finance system, to make it safer and 

more transparent for consumers, 

lenders, and investors. We are 

passionate about this. We know 

that when the market works well, 

communities across our country 

prosper. That is why “home” is better 

when Fannie Mae is part of it.

In the pages of this report, we share 

our progress and the evidence of our 

dedication to support the recovery, 

improve our company, and make 

housing better.

Timothy J. Mayopoulos

President and Chief Executive Officer, 

Fannie Mae
4

Single-family conventional guaranty book of business:

In 2013, we reported:
6

To understand where Fannie Mae is today, it is important to recall why 

the company was created. During the Great Depression, our country 

recognized the need for a reliable, steady source of funding for housing. 

Before Fannie Mae and the Federal Housing Administration were 

created, people had no consistent access to affordable mortgage credit.

For more than 75 years, we have helped millions of Americans find 

home – whether they are in big cities or small towns, whether 

they prefer to rent or buy, and whether the economy is good or 

bad. In 2008, the global financial crisis hit and the federal 

government stepped in to support the U.S. housing 

finance system. For Fannie Mae and Freddie Mac, 

this meant federal conservatorship. This was a 

profound event – conservatorship marked 

the end of the old Fannie Mae.
8

A “different” Fannie Mae has played 

an essential role in responding to 

the housing crisis and contributing to 

the economic recovery. Fannie Mae 

serves an important function: to fund 

our nation's housing market.

In the wake of the crisis, we have 

remained the leading source of liquidity for housing in the U.S. We have 

funded approximately $4.1 trillion in 

loans since 2009, providing access 

to homes for millions of families. 

Notably, we are the largest source 

of the 30-year fixed-rate mortgage, 

helping to ensure these mortgages 

are widely available to families 

wanting to buy a home.

The loans in our new single-family 

guaranty book of business – those 

we have acquired since 2009 – have 

a strong overall credit profile and 

now comprise 77 percent of our 

single-family guaranty book. Singlefamily loans that are 90 days or more 

delinquent on payments or in the foreclosure process decreased to 2.38 

percent of our book as of December 

31, 2013 – a share that has declined 

each quarter since it peaked at 5.59 

percent in February 2010.

We are focused on improving the 

housing market and making homes 

more attainable and more affordable. 

Our role in the housing market helps 

stabilize the market and brings global 

capital to America. For the individual, 

this means access to affordable mortgage credit in all economic cycles. 

While the future of our company 

remains uncertain, we have made 

tremendous progress since 2009. 

Our financial performance has 

improved, we have helped struggling 

homeowners while building a stronger business, we are contributing to a 

safer housing finance system for the 

future, and we have paid billions of 

dollars in dividends to Treasury. 

Ultimately, our goal is a sustainable 

housing market that enables people 

to buy or rent a home anywhere in 

the country at all times. 
10

Cumulative Total 

Initial Liquidation Preference $1.0

Treasury Draw Requests 1 $116.1

Total Senior Preferred 

Stock Outstanding $117.1

Draw Request from Treasury

(in billions)

$60.0

2009

$15.2

2008

$15.0

2010

$25.9

2011

$0.0

2012 1Q13

$0.0 $0.0

2Q13 4Q13

$0.0 $0.0

3Q13

TBD

1Q14

Dividend Payment to Treasury

(in billions)

$8.6

4Q13

$7.2

1Q142

$0.03

2008

$2.5

2009

$7.7

2010

$9.6

2011

$11.6

2012

$4.2

1Q13

$59.4

2Q13

$10.2

3Q13

Cumulative 

Total

Total Dividend Payments

through Q1 20143 $121.1

During the past five years, we have changed our company 

as the quality of our book of business and our financial 

performance have improved significantly.

In 2013, we reported net income of $84 billion and $38.6 

billion of pre-tax income – the highest annual income 

and annual pre-tax income in our company’s history. Our 

net income for 2013 was positively affected by several 

significant factors, such as the release of the valuation 

allowance against our deferred tax assets, a significant 

increase in home prices, and the large number of 

resolution agreements we entered into during the year. As 

of December 31, 2013, we have been profitable for eight 

consecutive quarters, and we expect to remain profitable 

for the foreseeable future. We expect our annual earnings 

to remain strong over the next few years, but substantially 

lower than 2013. (See our 2013 Form 10-K filed with the 

SEC on February 21, 2014 for more information on our 

2013 financial results and our expectations for our future 

financial results.) 

As of our March 2014 dividend payment to Treasury we will 

have paid a total of $121.1 billion in dividends – approximately $5 billion more than we have received in support 

from taxpayers. (The dividends we pay to Treasury do not 

offset our prior draws from Treasury.)

But our progress is about much more than profit alone. 

We are making housing better by improving loan quality, 

advancing appropriate underwriting standards, better balancing risk, and enhancing how we collect and report data. 

The important changes we have made to our company and 

the way we and our partners do business are contributing 

to a safer, more sustainable system for future generations. 

tREASURY Draws TREASURY DIVIDEND PAYM

(1) Treasury draw requests are shown in the period for which requested and do not include the initial $1.0 billion liquidation preference of Fannie Mae’s senior preferred 

stock, for which Fannie Mae did not receive any cash proceeds. The payment of dividends does not offset prior Treasury draws.

(2) Our dividend for the first quarter of 2014 is calculated based on our net worth of $9.6 billion as of Dec. 31, 2013 less the applicable capital reserve amount of $2.4 billion.

(3) Amounts may not sum due to rounding.
12

BANK HOMEBUYER

– Avg. 744 FICO

 (620 min. at origination*)

– Avg. 67% LTV 

 (mark-to-market)

Protecting the homebuyer, the lender, and the community.

In order to sell loans to Fannie Mae, lenders 

must follow our eligibility and underwriting 

guidelines, which emphasize loan quality.

To qualify for a Fannie Mae loan, a 

homebuyer must meet minimum credit 

requirements to help ensure they are on 

solid financial footing and can afford their 

loan for the long term.

*limited exceptions exist

As of December 31, 2013

of December 31, 2013. Given the 

solid credit risk profile of these loans 

and based on their performance to 

date, we expect these loans in the 

aggregrate will be profitable over 

their lifetime.

We also continue to mitigate credit 

losses on our single-family loans by 

aiding homeowners in distress due to 

the financial crisis. For example, we 

help eligible Fannie Mae borrowers 

refinance into more sustainable loans 

through the Administration’s Home 

Affordable Refinance Program® 

(HARP®), and we work with servicers 

to offer loan modifications – changes 

to the homeowner’s loan terms – that 

can significantly reduce monthly 

mortgage payments. (Read more 

about our commitment to help struggling homeowners on page 24.)

Our initiatives to improve loan quality 

and lending standards have made a 

difference. On our new single-family 

book of business (loans acquired 

since January 1, 2009), the serious 

delinquency rate was 0.33 percent 

as of the end of 2013*

. By the end of 

2013, approximately 95.5 percent of 

Fannie Mae’s 17.6 million single-family conventional loans were current 

and the share of seriously delinquent 

loans had declined for 15 straight 

quarters. Overall, less than 1 percent 

of our single-family loans went into 

foreclosure in 2013.

All of this means that fewer 

homeowners are missing mortgage 

payments. In addition to helping 

families and neighborhoods, this 

also benefits America’s housing and 

economic recoveries. 

*

The serious delinquency rates for 

loans acquired in more recent years 

will be higher after the loans have 

aged, but we do not expect them to 

approach the levels of the December 

31, 2013 serious delinquency rates 

of loans in our legacy book of business (loans acquired prior to 2009).

At Fannie Mae, we work to help protect homeowners while 

ensuring broad access to mortgage credit. 

For instance, we have introduced new underwriting and 

eligibility standards – checks and balances, essentially – 

to improve the sustainability of loans that lenders deliver 

to us. Also, loan quality initiatives such as the Uniform 

Mortgage Data Program® and our EarlyCheckTM service are 

designed to improve the loan process by delivering better, 

more consistent information earlier. 

Since buying a home is the largest financial commitment 

many people will make, we also have established reasonable and sound credit criteria that homebuyers must meet 

in order to be eligible for a loan. These changes help to 

ensure borrowers are better prepared to afford their homes 

for the long term, which helps to stabilize the market.

As a result of these efforts, the quality of our single-family 

loans has improved over the past few years. The loans 

we have acquired since January 1, 2009 accounted for 

77 percent of our overall single-family guaranty book as 

As of December 31, 2013

“NEW” BOOK

Loans acquired since 2009, with stronger standards.

77%

23%
14

A good place to live is central to our national aspiration. 

Fannie Mae helps make that possible. We exist to ensure

there are adequate funds in the market so that people can 

buy, sell, or rent a home anywhere in our nation and during 

all economic cycles.
16

We help people access the funds they need when they are 

ready for a home. Our mission is to support liquidity and 

stability in the secondary mortgage market (where existing 

mortgage-related assets are bought and sold) and to 

increase the supply of affordable housing. 

Although we do not issue loans directly to borrowers, 

we buy and securitize mortgages from banks and other 

lenders – for home renters, homebuyers, or homebuilders. 

This helps to keep the market functioning. 

We take great care to ensure that the mortgages we 

acquire from banks and lenders are of high quality. To 

do this we put quality control at the very beginning of the 

process, which reduces risk and provides greater clarity, 

quality, and consistency in the mortgage process. 

After we acquire the loans, we typically bundle them into 

mortgage-backed securities (MBS) that we sell to investors, which attracts the world’s capital to America. In 2013, 

we provided $797 billion in liquidity to the market, which 

enabled people to complete 1 million home purchases and 

2.6 million refinances and attain 507,000 units of quality, 

affordable rental housing. 

We also provide funding to the mortgage market through 

short-term financing and other activities. Through our 

capital markets activities, we enable lenders to replenish 

their funds and issue new loans. Lenders can sell their 

loans to Fannie Mae for cash or swap their loans for Fannie 

Mae MBS, which lenders can keep for their portfolio or sell 

to investors.

It all adds up to more people having a good place to 

call home.

“The liquidity provided 

by market investors 

helps us provide our 

members with sustainable 

mortgage products.” — Richard F. Morris, Vice President of Pricing/GSE, 

Navy Federal Credit Union

We help people access the

funds they need when 

they are ready for a home. 

That’s why we’re here.
18

At Fannie Mae, we are proud to 

be the country’s leading source of 

single-family financing. But more 

importantly, we are focused on 

performing this role responsibly.

We understand the importance of 

enabling people to buy homes they 

can afford for the long term, and 

we support sustainable mortgage 

lending practices that minimize 

risk for homebuyers. For instance, 

Fannie Mae is the leading provider 

of the 30-year fixed-rate mortgage – 

America’s most preferred mortgage. 

Fixed-rate mortgages protect homeowners from interest rate swings and 

offer predictable monthly payments 

for the life of the loan. These features 

help people to plan their finances, 

raise families, start businesses, and 

build a foundation for retirement. 

Ninety-seven percent of consumers 

believe it is important for long-term 

fixed-rate mortgages to be available 

in the U.S. However, most private 

lending institutions do not want to 

tie up their money for such long 

periods. As a government-sponsored 

enterprise, Fannie Mae is able to 

provide a steady source of funding 

for long-term mortgage products, 

ensuring they remain accessible 

to homebuyers. 

As of December 31, 2013, roughly 

72 percent of the loans in our 

single-family book of business were 

long-term fixed-rate mortgages. 

What’s more, the share of seriously 

delinquent loans in our single-family 

book of business dropped to 2.38 

percent as of December 31, 2013. 

This marked the 15th consecutive 

quarterly drop in our single-family 

serious delinquency rate. 

We’ve made great progress to help 

promote sustainable homeownership. 

These improvements are a direct 

result of the significant changes we 

have made at Fannie Mae. 

“Our country is unique in having a liquid secondary market for 30-year fixed-rate 

mortgages, the product of choice for most borrowers because of the affordability and 

safety it provides. Fannie Mae’s commitment to housing finance, both providing liquidity 

and supporting the capital markets with its securities, helps make this product of choice 

a reality. Caliber Home Loans’ partnership with Fannie Mae has helped us accomplish 

our mission of guiding families in achieving their dream of homeownership.”

– Joe Anderson, CEO, Caliber Home Loans, Inc.

According to our National Housing Survey, 

86 percent of consumers prefer to own a home because 

they want protection against rent increases and they 

believe owning is a good long-term investment.
20

DUS MBS produced by our lenders 

with demand from the institutional 

investor community is key to providing liquidity for multifamily loans. 

Through our Guaranteed Multifamily 

Structures (Fannie Mae GeMSTM) 

deals, we package groups of DUS 

MBS together to create larger, more 

liquid deals that are appropriate for a 

broader array of investors. In 2013, 

we expanded our investor base and 

helped bring private capital back 

into the housing finance system by 

issuing 10 GeMS deals, totaling more 

than $10 billion in principal balance. 

In addition to responding to the needs 

of renters and our DUS Lenders, our 

borrowers’ interests remain top of 

mind. In 2013, we began offering loan 

terms of up to 12 years in response 

to concerns about rising interest 

rates. Innovative new approaches like 

the 12-year term and GeMS deals 

generate additional demand for DUS 

MBS, helping to keep rates stable for 

multifamily borrowers.

At Fannie Mae, we understand that 

“home” means something different 

for every family. According to our 

monthly National Housing Survey, 

roughly one in six Americans prefers 

the financial and lifestyle benefits of 

renting over owning. As the leading 

provider of liquidity to America’s 

multifamily mortgage market, we 

provide access to quality, affordable 

rental housing in small towns and big 

cities alike. 

In 2013, we financed 507,000 rental 

units by providing $28.8 billion in 

liquidity to the multifamily market. 

More than 85 percent of these units 

were affordable to individuals and 

families earning at or below the 

median income in their area. 

Working together with our Delegated 

Underwriting and Servicing (DUS®) 

lender partners, we serve multiple 

segments of the market, including 

affordable, student, and seniors 

housing, manufactured housing 

communities, conventional loans, 

and loans to large institutional 

borrowers that cover multiple properties. Fannie Mae’s DUS program 

is a unique and proven shared-risk 

model in the commercial mortgage 

industry, providing effective, 

efficient, and reliable financing 

solutions for multifamily housing 

lenders and borrowers. In 2013, 

Fannie Mae DUS Lenders delivered 

99 percent of our multifamily loan 

acquisitions, helping to house hundreds of thousands of people across 

the country. And, the high-quality 

loans in our multifamily book of 

business, which totaled more than 

$200 billion in 2013, continue to 

perform well – loans that are 60+ 

days delinquent made up only 0.10 

percent of our multifamily guaranty 

book of business as of December 

31, 2013. 

The majority of loans we financed in 

2013 were delivered through MBS 

execution. Aligning the supply of 

“No mortgage loan securitization program has ever come 

close to the success of the Fannie Mae DUS® program 

in providing market liquidity, fantastic pricing, and 

exceptional credit performance for over a quarter century. 

The DUS program is an exemplary model that combines 

intense competition for loans with private capital sharing 

risk. Walker & Dunlop is honored to be Fannie Mae's

largest partner in this highly successful program.” 

– Willy Walker, Chairman and Chief Executive Officer, 

Walker & Dunlop

$28.8

of loans

delivered through 

MBS execution

units financed

in 2013

majority

of units affordable

to families at or

below area

median income

more than

85% 507,000

billion 

multifamily 

financing 

in 2013
22

Fannie Mae remained in the housing market 

throughout the economic crisis – we helped to 

keep the markets working then and we continue to 

provide essential support during the recovery. 

We remain committed to helping the communities 

we serve across our nation.
24

more than

1.5M 

loan

workouts

since 2009

approximately

345,500 foreclosure alternatives

more than

1.2M home retention solutions

Our efforts enable families in distress to keep 

their homes or otherwise avoid foreclosure.

able to sell their home, and deeds-in-lieu of foreclosure, 

where the homeowner can voluntarily sign over the deed to 

their property. These options are specifically designed to 

help borrowers avoid foreclosure.

We also continue to work with our servicing partners to 

improve their foreclosure prevention results. For instance, 

we provide free training to servicers and rolled out innovative new industry standards with FHFA and Freddie Mac 

to make servicing processes simpler and more effective. 

We also offer educational resources for homeowners to 

help them understand their options, and we encourage 

single-point-of-contact practices so that struggling borrowers are not bounced around to multiple representatives. 

Our goal is to reach at-risk homeowners much earlier so 

that, together, we can find a way to help them keep their 

home. Since 2009, through all of these efforts, we have 

completed more than 1.5 million workouts to help homeowners avoid foreclosure. We appreciate that we could not 

have fulfilled this role without the support of taxpayers, 

and we are focused on repaying their investment through 

our dividend payments to Treasury and by helping to build 

a better housing finance system.

While the housing market is improving, we recognize that 

much work remains. People are still struggling. Fannie Mae 

is focused on helping the thousands of individuals and 

families who are faced with the prospect of losing their 

home. We have seen firsthand how devastating foreclosure 

can be to homeowners, both emotionally and financially. 

We also see how each foreclosure affects more than just 

one household – it can ripple across communities, jeopardizing home prices and crippling neighborhoods. 

In 2013, through our suite of loan workout options, we 

helped approximately 234,000 struggling homeowners to 

stay in their homes or find alternatives to foreclosure. For 

instance, we helped homeowners with serious long-term 

hardship (such as illness or loss of income) to change 

the terms of their loan into something more affordable by 

completing 160,000 loan modifications. 

We have helped approximately 1 million homeowners 

to refinance their loans through our Refi PlusTM initiative 

in 2013, bringing the total to approximately 3.9 million 

since the program’s inception. Refi Plus, which includes 

the Administration’s Home Affordable Refinance Program 

(HARP), provides expanded and streamlined opportunities 

for homeowners to take advantage of historically low interest rates. As a result of Refi Plus, homeowners’ monthly 

mortgage payments were reduced by an average of $223 

in 2013. 

Additionally, we enable servicers to offer forbearance to 

unemployed homeowners or those affected by natural 

disasters in order to help them avoid foreclosure. Our 

other foreclosure alternatives include short sales, where a 

borrower who owes more than the home is worth may be 

In 2008, homeowner Paul was injured at work and put on disability 

– then the recession hit, followed by widespread layoffs and declining home values, and Paul lost his job. He and 

his wife, Cherie, were just staying afloat on her income. Fortunately, they reached out to their mortgage company 

about HARP and were able to lower their monthly mortgage payments by $305 a month. “The extra money helps 

out tremendously,” says Paul.
26

As we continue to support the recovery, we are joining in 

reforms to create a safer U.S. housing finance system – 

one that enables families to buy homes while protecting 

taxpayers from too much risk.
28

Through 2013, we reached important 

milestones with the support of our 

conservator to help build a more 

transparent and sustainable 

housing system.

For example, under FHFA’s guidance, 

we are partnering with Freddie Mac to 

develop a new mortgage securitization platform. In addition, we issued 

our first credit-risk-sharing securities 

transactions in 2013 to help encourage private market participation. 

We are also working on additional 

initiatives to prepare our business 

and infrastructure for potential future 

changes in the structure of the U.S. 

housing finance system. 

These are important results but we 

are committed to doing much more. 

As we look ahead, we will continue 

to work closely with FHFA to improve 

our business and invest in initiatives 

to help ensure America’s housing 

system is safer and more sustainable 

for generations to come. No matter 

what that future system looks like, 

the people of Fannie Mae are proud 

to support it.
30

As part of our focus on supporting the housing 

recovery and helping to build a better housing 

finance system, we continue our proud tradition 

of giving back to communities and families.
32

On any given day in the U.S., more than 1 million people do 

not have a place to call home. At Fannie Mae, we have a 

long-standing commitment to combating homelessness.

Since 1988, our Help the Homeless Program has provided 

a fundraising model that benefits organizations who serve 

the homeless or those at risk of becoming homeless – the 

program has raised and distributed more than $100 million 

to Help the Homeless nonprofit beneficiaries. Each year, 

thousands of people get involved by participating in a community event, making a donation, or volunteering their time. 

In 2013, we continued to drive participation in and around 

the cities where we live and work – Atlanta, Chicago, 

Dallas, Los Angeles, Philadelphia, and Washington, DC. 

By coordinating Help the Homeless as a far-reaching, 

community-focused initiative through various local events, 

we are able to raise critical funding and awareness of 

homelessness within our own neighborhoods.

While Fannie Mae concluded its grant-making role at the 

end of 2013, our employees continue their dedication to 

the issue of homelessness through fundraising, volunteerism, and awareness-building activities.

“Since 2007, we have expanded from housing five clients in 

Permanent Supportive Housing to our current 34 – with a 

total of 60 clients housed over that time. Our participation in 

Help the Homeless has allowed us to expand this program, 

build a reserve account, and share our message with 

thousands of our neighbors in Arlington, Virginia every year.” 

– Kathleen Sibert, Executive Director of 

Arlington Street People’s Assistance Network (A-SPAN)
34

Our employee volunteer efforts are aligned with Fannie 

Mae’s business and help to build and strengthen relationships with the communities we serve. 

Whether supporting homeless service providers, staffing 

foreclosure prevention events, rebuilding homes in hard-hit 

neighborhoods, refurbishing inner-city schools, or hosting 

food and clothing drives for struggling families, our employees are passionate about giving back to those in need. 

Throughout 2013, more than 2,000 Fannie Mae employees 

volunteered nearly 18,000 hours on a wide range of projects and initiatives to benefit local nonprofit organizations.

We always push ourselves to make a bigger difference in 

the community. In 2013, we launched “7 Days to SERVE” 

– a concentrated week of community service activities. 

Through the program, Fannie Mae employees had the 

opportunity to volunteer in coordinated hands-on events 

and skills-based projects (such as leading financial literacy 

sessions), all in support of nonprofits who share our focus 

on tackling the nation’s housing challenges.
36

Thanks for giving us the 

opportunity to spend 

some of our time being 

of service to the 

community. 

– Yolanda Jordan, Chicago

It was my first SERVE 

event and I can't wait for 

the next one. 

– Saima Aslam, Reston

Before leaving, I got a 

hug from one of the kids 

and it warmed my heart.

Abigail Maraya, 

Washington, DC

*based on the Independent Sector’s 2012 value of volunteer time estimate.

5,700+

total hours of

volunteer service =

$126,198

in service to our 

community partners*

Atlanta

SORTED:

12,190 LBS OF FOOD 

PROVIDED:

8,126 MEALS

Washington, DC Metro Area

MADE & DISTRIBUTED:

960 BAG LUNCHES

280 LITERACY KITS

Philadelphia

ACCOMPLISHED:

HANDWRITTEN 

NOTES

BREAKFAST 

BAGS

300+

200+

DAYS

HOMELESS 

DAILY 

4

200

Ft. Lauderdale

SERVED:

6 / habitat builds

5

cities

85

employees /

Dallas

DONATED: 

5,500 WIPES

2,800 DIAPERS

Irvine

REVAMPED A SHELTER:

HOMELESS 

ADULTS SERVED

EMPLOYEES 

VOLUNTEERED

6,000+

4

Chicago

TRANSFORMED A HOME: 

12 EMPLOYEES

4 HOURS

AS PART OF 7 DAYS TO SERVE, MORE THAN

employees

Pasadena

REVIEWED RESUMES:

EMPLOYEES

UNEMPLOYED 

ASSISTED

2

5

cities

in participated in

projects
3900 Wisconsin Avenue, NW

Washington, DC 20016-2892

©2014 Fannie Mae. Reproduction of photographs contained in this Progress Report is prohibited.

www.fanniemae.com/progress