María Fernanda Álvarez Terán[a] (Latin American Spanish: [maˈɾi.a feɾˈnanda ˈalβaɾes teˈɾan]; born 28 February 1989), also known as MFAT, is a former tennis player from Bolivia.

She won tournaments including doubles at the Copa Gatorade, Copa Milo in singles, Méditerranée Avenir in doubles, and Raquette D'Or, Riad 21, both in singles, and 21st Copa Gerdau and Condor de Plata, both in doubles.

On the senior tour, her best singles ranking was world No.

Her last match on the ITF Women's Circuit she competed in her hometown Santa Cruz, in December 2016.

Playing for Bolivia Fed Cup team, Álvarez Terán has a win–loss record of 32–33.