State of New York Mortgage Agency

The State of New York Mortgage Agency (SONYMA or Sonny Mae) is a public-benefit corporation created in 1970 by the state government of New York to increase the availability of residential mortgage funds and support affordable homeownership. It offers below-market fixed-rate mortgages and related programs for eligible low- and moderate-income homebuyers, principally first-time buyers, and funds its activities mainly by issuing tax-exempt revenue bonds backed by mortgage repayments.

Source: Wikipedia — State of New York Mortgage Agency (CC BY-SA 4.0)