What is a Fannie Mae package?

A Fannie Mae package refers to a set of mortgage products and services offered by Fannie Mae, a government-sponsored enterprise that provides liquidity to the mortgage market. These packages typically include loans that meet specific eligibility criteria for conventional mortgages, allowing lenders to sell these loans to Fannie Mae for funding. They often feature standardized terms, underwriting guidelines, and various programs to support homeownership and affordable housing initiatives.