Examples of FNMA in a sentence
The statutes provide that banks accepting deposits of funds from local governmental units must furnish an indemnity bond or pledge as collateral obligations of the United States, South Carolina, and political subdivisions of South Carolina, the Federal National Mortgage Association (FNMA), the Federal Home Loan Bank, the Federal Farm Credit Bank, or the Federal Home Loan Mortgage Corporation (FLMC).
All bonds are issued by U.S. Treasury orU.S. government agencies such as FNMA, FHLMC and FHLB, and had implied credit ratings of AAA at the time of purchase and continued to hold those ratings at June 30, 2018.
To establish reasonable support for the original appraised value, each qualifying appraisal was accompanied by one of the following: (i) an existing desk review report provided by the originator (or issuer), (ii) a second full appraisal (typically required by the guidelines) (iii) a FNMA Collateral Underwriter (“CU”) analysis with a score of 2.5 or less.
The investments in FNMA, FHLMC, FHLB and FFCB are registered and carry a rating AA+ by Standard & Poor’s.
During fiscal year 2023, investments included negotiable certificates of deposit, commercial paper, U.S. government money market funds, Farm Federal Credit Bank (FFCB) securities, Federal National Mortgage Association (FNMA) securities, Federal Home Loan Mortgage Corporation (FHLMC) securities, Federal Home Loan Bank (FHLB) securities, and STAR Ohio.