What do "Fannie Mae" and Freddie Mac" MEAN? (I know what they ARE, but I do not understand where the acronyms

Question

We keep hearing about the US Housing crisis and bailouts for federal Mortgage insurers Fannie Mae and Freddie Mac. Although these are proper names, these organizations are obviously not individual persons. Thus, they must stand for something...perhaps initials. But this is never reported. I am curious (and a bit frustrated) at this and would like to know the real names of these organizations.

Answer 1

The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac.

Federal National Mortgage Association , commonly known as Fannie Mae.