A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from July 13, 2011
Fannie Mae (Federal National Mortgage Association)

Fannie Mae signifies the Federal National Mortgage Association (FNMA). The FNMA was established in 1938 and “Fanny May” has been cited in print since at least May 1938. “Fannie May” has also been used, but “Fannie Mae” soon became the established spelling and replaced the original name (FNMA).

Similar nicknames include “Freddie Mac” (Federal Home Loan Mortgage Corporation), “Ginnie Mae” (Government National Mortgage Association), “Sallie Mae” (Student Loan Marketing Association), “Farmer Mac” (Federal Agricultural Mortgage Corporation) and “Sonny Mae” (State of New York Mortgage Agency).


Wikipedia: Fannie Mae
The Federal National Mortgage Association (FNMA; OTCBB: FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE), though it has been a publicly traded company since 1968. The corporation’s purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on thrifts.

(Oxford English Dictionary)
Fannie Mae, n.
Etymology:  Acronym elaborated < the initial letters of Federal National Mortgage Association, after the female personal names Fannie and Mae.
U.S. slang.
The nickname given to the Federal National Mortgage Association established by the U.S. government in 1938 (and since 1970 a private corporation) which buys and sells mortgages to create a revolving fund for home loans.
1948 Archit. Rec. Sept. 14/2 Federal National Mortgage Association, FNMA (or Fannie Mae as the trade calls it).
1972 Real Estate Rev. Winter 77/1 Fannie Mae, with the help of Ginnie Mae, has had to supply a major proportion of long-term financing for FHA-insured properties and particularly FHA-subsidized housing.

16 May 1938, Wall Street Journal, “Bonds and Bond Men” by John Broderick, pg. 6:
The Federal National Mortgage Association notes which are to be sold Wednesday will have to have an abbreviated title like other obligations of the Government and its agencies.  So last week traders tentatively dubbed them the “Fanny Mays,” an adoption of the initials of the title. Sounds like the name of a mule.

Google Books
July-December 1938, Architectural Forum, pg. 4, col. 2:
FANNY MAY. Nicknamed ‘Fanny May’ by Washington’s bureau wags, the Federal National Mortgage Association (FNMA) had by mid-August purchased only $43 million of FHA-insured mortgages.

Google News Archive
14 August 1948, Miami (FL) News, “Cost Of Money Drifting Back To Prewar Levels,” pg. 7D, col. 5:
Whether the reactivation of “Fannie May” tp provide a secondary market for mortgages will ease the situation remains to be seen.

(Trademark)
Word Mark FANNIE MAE
Goods and Services IC 036. US 102. G & S: BUYING AND SELLING MORTGAGES FOR OTHERS. FIRST USE: 19560220. FIRST USE IN COMMERCE: 19560220
Mark Drawing Code (1) TYPED DRAWING
Serial Number 72370926
Filing Date September 17, 1970
Current Filing Basis 1A
Original Filing Basis 1A
Registration Number 0946030
Registration Date October 24, 1972
Owner (REGISTRANT) FEDERAL NATIONAL MORTGAGE ASSOCIATION CORPORATION UNITED STATES 3900 WISCONSIN AVENUE, NW WASHINGTON D.C. 200162892
Attorney of Record SARIRA ALEXANDER
Type of Mark SERVICE MARK
Register PRINCIPAL
Affidavit Text SECT 15. SECT 8 (6-YR). SECTION 8(10-YR) 20030206.
Renewal 2ND RENEWAL 20030206
Live/Dead Indicator LIVE

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Wednesday, July 13, 2011 • Permalink