What happens when Fannie Mae buys your mortgage at an auction?

When Fannie Mae buys your mortgage at an auction, it purchases the rights to your loan from the lender who originated it. This transaction allows Fannie Mae to provide liquidity to the mortgage market, enabling lenders to issue more loans. As a borrower, your mortgage terms typically remain unchanged, but your payments are now directed to Fannie Mae instead of the original lender. This process helps stabilize the housing market and make homeownership more accessible.