The Federal National Mortgage Association (Fannie Mae), chartered in 1938 by the U.S. Congress, is the largest U.S. government-sponsored enterprise (GSE). Fannie Mae’s mission is to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across the U.S., supporting both single-family and multifamily housing. It provides market liquidity by purchasing mortgages from qualified originators which it then securitizes and sells to investors as mortgage-backed securities (MBS) with guarantees. Fannie Mae does not lend directly to consumers. Fannie Mae serves the U.S. housing market through its single family (1-4 residential units) and the multifamily mortgage businesses. The Fannie Mae multifamily mortgage business has a Delegated Underwriting and Servicing (DUS) program that uses a national network of DUS lenders to finance multifamily rental units, manufactured housing communities, and cooperatives.