SEC Filing | Fannie Mae

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SEC FORM 3 SEC Form 3

FORM 3

UNITED 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
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

MARZOL ADOLFO

(Last)

(First)

(Middle)

3900 WISCONSIN AVENUE, NW

(Street)

WASHINGTON

20016-2892

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/03/2005

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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
SVP&Interim Chief Risk Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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 Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	13,380	D
Common Stock	152.724	I	By ESOP

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 Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (right to buy)	11/17/1999⁽¹⁾	11/17/2008	Common Stock	34,200	69.3125	D
Employee Stock Option (right to buy)	01/23/2004	01/18/2010	Common Stock	24,043	62.5	D
Employee Stock Option (right to buy)	11/21/2001⁽¹⁾	11/21/2010	Common Stock	39,960	77.095	D
Employee Stock Option (right to buy)	11/20/2002⁽¹⁾	11/20/2011	Common Stock	44,735	80.95	D
Employee Stock Option (right to buy)	01/21/2004⁽¹⁾	01/21/2013	Common Stock	50,397	69.43	D
Employee Stock Option (right to buy)	01/23/2005⁽¹⁾	01/23/2014	Common Stock	76,078	78.315	D
Employee Stock Option (right to buy)	11/16/2000⁽¹⁾	11/16/2009	Common Stock	40,210	71.5	D

Explanation of Responses:

1. The option vests in four equal annual installments beginning on the date shown.

Remarks:

	/s/ Adolfo Marzol	01/13/2005
	** Signature of Reporting Person	Date
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 Ann Kappler and Scott Lesmes
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 authority of Ann Kappler and Scott Lesmes
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 Ann Kappler and
Scott Lesmes 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.


/s/ Adolfo Marzol

_________________________
Adolfo Marzol



Date:  January
9, 2005