Fannie Mae also said its foreclosure-prevention activities helped more than 21,000 homeowners remain in their homes. Fannie Mae increased its total allowance for credit losses by $161 million. Operational Initiatives and Borrower SupportAkwaboah said Fannie Mae maintained an administrative expense ratio below 11% this year as its operational efficiency initiative reached its one-year mark. Cumulative estimated savings from appraisal alternatives since 2018 exceeded $3 billion, according to Fannie Mae. About Fannie Mae (OTCMKTS:FNMA)The Federal National Mortgage Association, commonly known as Fannie Mae (OTCMKTS:FNMA), is a government-sponsored enterprise established by Congress in 1938 as part of the New Deal to support the U.S. housing market.