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* HORN KAREN N (Last) (First) (Middle) C/O FANNIE MAE 3900 WISCONSIN AVENUE, NW (Street) WASHINGTON DC 20016 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 09/18/2006	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) X Director 10% Owner Officer (give title below) Other (specify below)	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)
No Securities Beneficially Owned	0	D

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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	/s/ Karen N. Horn	09/19/2006
	** 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 Beth Wilkinson, Scott Lesmes and Christine Reddy 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 Beth Wilkinson, Scott Lesmes and
Christine Reddy to execute and file on behalf of the undersigned a Form ID, and
any amendments thereto, to facilitate the foregoing.  The authority of Beth
Wilkinson, Scott Lesmes and Christine Reddy 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 Beth Wilkinson, Scott Lesmes and Christine Reddy 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.



Signed:	/s/ Karen N. Horn


Name:	Karen N. Horn


Date:   September 19, 2006