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FORM 3UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Phelan Kenneth

(Last)(First)(Middle)
3900 WISCONSIN AVENUE, NW

(Street)
WASHINGTONDC20016

(City)(State)(Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
04/21/2009
3. Issuer Name and Ticker or Trading Symbol
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE [FNM]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP, Enterprise Risk Managemen
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)4. Conversion or Excercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
No securities are beneficially owned

Kenneth J. Phelan04/28/2009
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

LIMITED SIGNATORY POWER


By this Limited Signatory Power the undersigned authorizes
and designates each of Sylvia M. Mahaffey, Suzanne Barr,  
Veronique Fine and Te-Mika S. Williams, each with full power 
of substitution,to execute and file on behalf of the undersigned 
all Forms 3, 4 and 5 (including any exhibits, attachments and 
amendments thereto) that the undersigned may be required 
to file with the Securities and Exchange Commission as a 
result of the undersigned's ownership of or transactions
in securities of Fannie Mae.  The undersigned further authorizes
and designates each of Sylvia M. Mahaffey, Suzanne Barr,  
Veronique Fine and Te-Mika S. Williams to execute and file 
on behalf of the undersigned a Form ID, and any amendments 
thereto, to facilitate the foregoing.  The authority of  
Sylvia M. Mahaffey, Suzanne Barr, Veronique Fine and 
Te-Mika S. Williams under this Limited Signatory Power shall 
continue until the undersigned is no longer required to file 
Forms 3, 4 and 5 with regard to his or her ownership of or 
transactions in securities of Fannie Mae, unless earlier revoked
in writing.  The undersigned acknowledges that Sylvia M. Mahaffey,
Suzanne Barr, Veronique Fine and Te-Mika S. Williams are not 
assuming, nor is Fannie Mae assuming, any of the undersigned's 
responsibilities to file Forms 3, 4 and 5 or otherwise comply 
with any related laws or regulations.  

This Limited Signatory Power revokes any Signatory Power or Power
of Attorney the undersigned has previously signed with respect to 
Forms 3, 4 and 5, and Form IDs, that the undersigned may be required 
to file with the Securities and Exchange Commission as a result of the 
undersigned's ownership of or transactions in securities of Fannie Mae.  



Date: April 28, 2009Signed: /s/ Kenneth J. Phelan

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