The Federal National Mortgage Organization (FNMA), commonly known as Fannie Mae, is a United States government-sponsored venture (GSE) and, considering that 1968, an openly traded business. Established in 1938 throughout the Great Clinical depression as part of the New Deal, the company's objective is to broaden the additional mortgage market by securitizing mortgage in the form of mortgage-backed securities (MBS), permitting lenders to reinvest their possessions into more loaning and essentially enhancing the variety of lenders in the home loan market by decreasing the dependence on locally based savings and loan associations (or "thrifts"). Its sibling company is the Federal Home Loan Home Loan Corporation (FHLMC), much better called Freddie Mac. Since 2018, Fannie Mae is rated number 21 on the Ton of money 500 rankings of the largest United States corporations by total earnings.