FNMA - Federal National Mortgage Association

Other OTC - Other OTC Delayed Price. Currency in USD
3.4600
+0.2100 (+6.46%)
At close: 3:59PM EST
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Previous Close3.2500
Open3.2300
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range3.2000 - 3.4900
52 Week Range0.9800 - 4.2300
Volume13,211,118
Avg. Volume6,078,639
Market Cap4B
Beta (5Y Monthly)2.08
PE Ratio (TTM)247.14
EPS (TTM)0.0140
Earnings DateMay 4, 2017 - May 8, 2017
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date2008-08-14
1y Target Est4.25
  • DoubleLine's Hsu on why Fannie and Freddie won't be released from conservatorship anytime soon
    Yahoo Finance Video

    DoubleLine's Hsu on why Fannie and Freddie won't be released from conservatorship anytime soon

    Yahoo Finance Correspondent Julia La Roche joins DoubleLine's Andrew Hsu, the co-portfolio manager of the DoubleLine Total Return Bond Fund, to discuss the future of Fannie Mae and Freddie Mac, opportunities in structured products, and infrastructure. The $150 billion DoubleLine Capital will celebrate its 10th anniversary this month.

  • Moody's

    J.P. Morgan Mortgage Trust 2019-INV3 -- Moody's assigns provisional ratings to Prime RMBS issued by J.P. Morgan Mortgage Trust 2019-INV3

    Moody's Investors Service, ("Moody's") has assigned provisional ratings to 34 classes of residential mortgage-backed securities (RMBS) issued by J.P. Morgan Mortgage Trust (JPMMT) 2019-INV3. JPMMT 2019-INV3 is the sixteenth prime jumbo transaction of 2019 issued by J.P. Morgan Mortgage Acquisition Corporation (JPMMAC) and the third JPMMT transaction in 2019 backed by 100% investment property loans. The certificates are backed by 1,049 fully-amortizing (20, 25 and 30-year term) fixed-rate investment property mortgage loans with a total balance of $388,315,530 as of the December 1, 2019, cut-off date.

  • PR Newswire

    Fannie Mae Completes Multi-Tranche Credit Insurance Risk Transfer Transaction on Nearly $10 Billion of Multifamily Loans

    Fannie Mae (OTCQB: FNMA) announced that it has completed its third and final multi-tranche Multifamily Credit Insurance Risk Transfer (MCIRT™) transaction of 2019 covering a pool of approximately $9.9 billion of existing multifamily loans in the company's portfolio. This new transaction, MCIRT 2019-03, is the seventh Multifamily CIRT transaction as part of Fannie Mae's ongoing efforts to increase the role of private capital in the multifamily mortgage market and mitigate risk for U.S. taxpayers.

  • PR Newswire

    Mortgage Lenders' Profit Margin Outlook Holds Steady on Strong Consumer Demand

    Mortgage lenders' profit margin outlook for the next three months remains on solid ground, according to Fannie Mae's Q4 2019 Mortgage Lender Sentiment Survey®. This quarter, 44% of lenders believe profit margins will remain about the same compared to the prior quarter, while 28% believe profits will fall and 27% believe profits will rise. Strong consumer demand, particularly among purchase mortgages, continues to buoy lenders' overall expected profitability, even as they expect refinance demand to soften amid a more stable interest rate environment.

  • PR Newswire

    Home Purchase Sentiment Rebounds in November, Re-Approaches Survey High

    The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) increased 2.7 points in November to 91.5, reversing the decline from last month and re-approaching the survey high set in August. Three of the six HPSI components increased month over month, including large increases in the percentage of Americans who believe it's a good time to buy and that home prices will go up over the next 12 months.

  • Bloomberg

    Fannie Mae and Freddie Mac Make the 30-Year Mortgage Possible

    (Bloomberg Opinion) -- Thirty years is a very long time.Over three decades, economic conditions will change and change again. And so, in all likelihood, will a person’s circumstances. You might buy a house and then, a decade later, lose your job. Or you might gain a windfall and decide to move to a bigger, better home. Who can know what’s in store over that span of time?Which is why the 30-year fixed-rate mortgage is such an unusual loan. Banks in other countries(1) don’t offer 30-year fixed mortgages, because they entail too much risk: interest rate risk, prepayment risk and, gravest of all, credit risk — meaning the possibility that the borrower will default. In the U.S., by contrast, the 30-year fixed mortgage is such a staple that nearly 90% of Americans who apply for a home loan want one.I suspect you already know what makes the 30-year fixed mortgage possible in the U.S.: Those infamous “government sponsored enterprises,” Fannie Mae and Freddie Mac,(2) publicly traded companies created by Congress to help make housing more available to middle-class Americans. Fannie and Freddie accomplish this by doing three things. First, they buy up mortgages from banks, thus freeing up capital so that banks can write yet more mortgages — and help more people gain the American Dream of homeownership.Second, they bundle mortgages into bonds, and sell them to investors (hence the term “mortgage-backed securities”). Finally, they assume the credit risk for the securitized mortgages they bundle. That is, they guarantee those mortgages against the possibility of a default. Without that guarantee, the 30-year fixed mortgage simply wouldn’t exist. No bank would be willing to assume that risk themselves.For the past 11 years, Fannie and Freddie have been in “conservatorship” — wards of the U.S. government. They were taken over by the Treasury Department in September 2008, nine days before the bankruptcy of Lehman Brothers Holdings Inc. Having foolishly — and belatedly — jumped into subprime mortgages, Fannie and Freddie were facing big losses. Then-Treasury Secretary Henry Paulson feared that if they collapsed, the entire U.S. housing market would collapse along with them.Ever since, policy makers in Washington have called for a reduction in the role of the federal government, saying that taxpayers shouldn’t be on the hook if Fannie and Freddie falter again. Indeed, many Republicans believe that Fannie and Freddie should be killed off entirely, and that housing finance should be in private hands. The big banks, irked by the power Fannie and Freddie had for decades over the securitization market, have also agitated for a diminished role for the GSEs.Sure enough, in 2013, President Barack Obama called for Fannie and Freddie to be wound down, and for the federal role in the mortgage market to be minimized. More recently, the current Treasury Department unveiled a plan that would solve the Fannie-Freddie issue in a different way. It wants to privatize the two companies and eliminate the guarantee, while also imposing a slew of new regulatory controls to prevent another taxpayer bailout like the one that took place in 2008. (The Trump administration plan is still pretty vague.)To which I can only ask: What’s the point?What spurs this thought is the news, which the Wall Street Journal broke a few weeks ago, that a number of major institutional investors, including BlackRock Inc. and Fidelity Investments, had met over the summer with administration officials to plead with them not to do away with the guarantee. The investors said that “any move to privatize Fannie and Freddie should include an explicit guarantee of the $5 trillion in mortgage-backed securities they issue, according to people familiar with the matter,” the Journal wrote.The fact that these big investors felt strongly enough to meet with the White House suggests a cold, hard truth: For all the talk about minimizing the federal role, the housing market simply cannot function without that federal guarantee. And only Fannie and Freddie are in a position to supply it.Here’s another question: Why do you think Fannie and Freddie remain in government control, even though every Treasury secretary since Timothy Geithner has vowed to end the conservatorship? One reason is that, try as they might, government officials simply haven’t been able to devise a way to maintain the 30-year fixed mortgage without Fannie and Freddie. Another is that ever since the financial crisis, Fannie and Freddie have single-handedly (double-handedly?) kept the housing market alive.It’s true, as its critics say, that the government had to hand the two companies $187 billion to keep them afloat. (This was in part because they were so thinly capitalized.) But once they recovered, they paid back $250 billion, giving the government a healthy return. (It was not such a good deal for Fannie and Freddie’s shareholders; that $250 billion was profit the government claimed for itself.)What Fannie and Freddie have mostly lost these past 11 years is the power they once had over the other players in the market. If the banks had wanted to play a bigger role during that time, the GSEs couldn’t have stopped them. But they didn’t — because they needed that guarantee.Any objective observer, I think, would have to concede that Fannie and Freddie have done a very good job since the 2008 crisis. They’ve done so without worrying about shareholders, or market share, or year-over-year profit gains. What got Fannie and Freddie in trouble was not the government mandate, but their public company impulses. In the years before the crisis hit, they abandoned their historically sound underwriting standards because they were losing market share to the mortgage originators that were writing all those subprime loans that came a cropper when the bubble burst. As government wards, Fannie and Freddie no longer have any incentive to act foolishly.So I ask again: What’s the point? Why does the government continue to try to wind down Fannie and Freddie, or privatize them, or whatever, when they’re working just fine the way they are? If Fannie and Freddie are going to supply a government guarantee on mortgages, they might as well be part of the government. Letting them loose is only going create temptations — and unduly complicate the housing finance system.They say that if it ain’t broke, don’t fix it. Conservatorship or not, Fannie Mae and Freddie Mac ain’t broke.(1) The only other country I know of that offers a 30-year fixed mortgage is Denmark.(2) Fannie Mae’s official name is the Federal National Mortgage Association. Freddie Mac’s is the Federal Home Loan Mortgage Corp.To contact the author of this story: Joe Nocera at jnocera3@bloomberg.netTo contact the editor responsible for this story: Stacey Shick at sshick@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • GlobeNewswire

    Anthony N. Renzi Appointed as CEO of Common Securitization Solutions

    Fannie Mae (FNMA/OTCQB) and Freddie Mac (FMCC/OTCQB) today jointly announced the appointment of Anthony N. Renzi as Chief Executive Officer (CEO) of Common Securitization Solutions, LLC (CSS), effective December 2, 2019. Mr. Renzi succeeds David Applegate who announced earlier this year that he would be stepping down as CSS CEO by year-end.

  • Moody's

    Provident Funding Mortgage Trust 2019-1 -- Moody's assigns definitive ratings to Prime RMBS issued by Provident Funding Mortgage Trust 2019-1

    Moody's Investors Service ("Moody's") has assigned definitive ratings to 18 classes of residential mortgage-backed securities (RMBS) issued by Provident Funding Mortgage Trust 2019-1 (Provident 2019-1). Provident 2019-1 is the first transaction entirely backed by loans originated by the sponsor, Provident Funding Associates, L.P. (Provident Funding). Provident 2019-1, a common law trust formed under the laws of the State of New York, is a securitization of agency-eligible mortgage loans originated and serviced by Provident Funding, a California limited partnership (corporate family rating B1; senior unsecured B2) and will be the first transaction for which Provident Funding is the sole originator and servicer.

  • DoubleLine on why Fannie, Freddie won't be released from conservatorship soon
    Yahoo Finance

    DoubleLine on why Fannie, Freddie won't be released from conservatorship soon

    Releasing the GSEs from conservatorship too soon might impact the economy, says one of DoubleLine's top fund managers.

  • Moody's

    MHFA-Homeownership Finance Bonds (MBS Prog.) -- Moody's assigns Aaa rating to MN HFA's Homeownership Fin. Bds. 2019 H; outlook stable

    Rating Action: Moody's assigns Aaa rating to MN HFA's Homeownership Fin. New York, December 05, 2019 -- Moody's Investors Service has assigned a Aaa rating to the proposed $54 million of Minnesota Housing Finance Agency's ("Minnesota Housing" or the "Agency") Homeownership Finance Bonds, 2019 Series H (Mortgage-Backed Securities Pass-Through Program) (the "2019 Bonds"). The Aaa ratings on all outstanding Homeownership Finance Bonds have also been maintained.

  • Here are the best and worst states to refinance
    Yahoo Finance

    Here are the best and worst states to refinance

    On average, 75% of mortgage refinance applications are approved. But some states like Utah are more likely to approve applications than others, according to a LendingTree study.

  • Fannie Mae, Freddie Mac will soon let borrowers take out mortgages over $500K
    MarketWatch

    Fannie Mae, Freddie Mac will soon let borrowers take out mortgages over $500K

    The Federal Housing Finance Agency has raised the maximum conforming loan limit for the fourth straight year.

  • PR Newswire

    Fannie Mae Releases October 2019 Monthly Summary

    Fannie Mae's (OTCQB: FNMA) October 2019 Monthly Summary is now available. The monthly summary report contains information about Fannie Mae's monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications.

  • Moody's

    J.P. Morgan Mortgage Trust 2019-9 -- Moody's assigns definitive ratings to Prime RMBS issued by J.P. Morgan Mortgage Trust 2019-9

    Moody's Investors Service ("Moody's") has assigned definitive ratings to 34 classes of residential mortgage-backed securities (RMBS) issued by J.P. Morgan Mortgage Trust (JPMMT) 2019-9. The certificates are backed by 998 30-year, fully-amortizing fixed-rate mortgage loans with a total balance of $680,976,702 as of the November 1, 2019 cut-off date. Similar to prior JPMMT transactions, JPMMT 2019-9 includes agency-eligible mortgage loans (10.13% by loan balance) underwritten to the government sponsored enterprises (GSE) guidelines in addition to prime jumbo non-agency eligible mortgages purchased by J.P. Morgan Mortgage Acquisition Corp. (JPMMAC), the sponsor and mortgage loan seller, from various originators and aggregators.

  • PR Newswire

    Fannie Mae Prices $963 Million Connecticut Avenue Securities (CAS) Refi Plus Deal

    Fannie Mae (OTCQB: FNMA) priced its first Connecticut Avenue Securities® transaction referencing a pool of seasoned Refi Plus™ loans. The Refi Plus program includes but is not limited to the Home Affordable Refinance Program, or HARP®. CAS Series 2019-HRP1 is a $963 million note offering that utilizes a credit-linked note structure and represents the eighth transaction of 2019 under the CAS program. Fannie Mae's issuance program is designed to share credit risk on its single-family conventional guaranty book of business.

  • Moody's

    NYS HFA - Affordable Housing Revenue Bonds -- Moody's assigns Aa2 rating to NYS HFA, Affordable Housing Rev. Bonds, 2019 Series P, Q and R; outlook stable

    Moody's Investors Service has assigned the rating of Aa2 to the proposed $443.84 million of New York State Housing Finance Agency (the "Agency" or "NYS HFA") Affordable Housing Revenue Bonds, 2019 Series P (Climate Bond Certified/Sustainability Bonds), Affordable Housing Revenue Bonds, 2019 Series Q (Sustainability Bonds) and Affordable Housing Revenue Bonds, 2019 Series R (Federally Taxable)(Climate Bond Certified/Sustainability Bonds) (Collectively, the "Bonds"). Moody's also maintains a Aa2 rating on all outstanding parity debt issued under the Agency's General Resolution adopted on August 2007 (the "Resolution").

  • Bloomberg

    Deutsche Bank’s CEO Says Europe Could Use Its Own Fannie Mae

    (Bloomberg) -- Europe should consider creating its own version of mortgage agencies such as Fannie Mae or Freddie Mac to give a boost to capital markets in a region that’s still heavily dependent on bank lending, Deutsche Bank Chief Executive Officer Christian Sewing said.More than two-thirds of German and European companies are still financed by bank loans, Sewing said Friday at a banking conference in Frankfurt. Capital markets on the continent are still much less developed than in the U.S., limiting banks’ ability to sell off the debt and extend more loans, he said.“Lets think about a European institution like that,” Sewing said. “Something like a European Fannie Mae, yes, I would be in favor of that.”Europe’s banks have long struggled to keep up with Wall Street peers, in part because the region still lacks a unified capital market. Government-backed institutions like Fannie Mae, which buy home loans from banks, package and sell them, have played a key role in developing the market for securitizations in the U.S., allowing banks there to issue more loans while needing less of their own capital.Congress created Fannie Mae -- the Federal National Mortgage Association -- in 1938 as government agency to revive the mortgage market after the Great Depression. By buying mortgages from lenders, it freed up money the banks could use to make more loans. It and Freddie Mac, a competitor created in 1968, helped the market for mortgage-backed securities grow by guaranteeing the payments of bonds it sold -- bonds that many investors treated as nearly as safe as those of the U.S. Treasury.The system melted down in the 2007-2008 financial crisis, forcing the government to take direct control over the pair. Fannie and Freddie quickly rebounded, and their so-called agency MBS fuel the deepest and most liquid U.S. debt market after Treasuries.To contact the reporters on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net;Steven Arons in Frankfurt at sarons@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Christian BaumgaertelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Moody's

    Moody's Fully Supported Municipal & IRB Deals

    Announcement: Moody's Fully Supported Municipal& IRB Deals. Global Credit Research- 19 Nov 2019. New York, November 19, 2019-- ASSIGNMENTS:.

  • Moody's

    Massachusetts Housing Finance Agency -- Moody's assigns Aaa to Massachusetts Housing Finance Agency Multifamily Tax-Exempt Mortgage-backed Bonds (M-TEMS) (Colonial Village Project), Series 2019 (FN)

    Moody's Investors Service has assigned a Aaa rating to the proposed $8,250,000 Massachusetts Housing Finance Agency Multifamily Tax-Exempt Mortgage-backed Bonds (M-TEMS) (Colonial Village Project), Series 2019 (FN). The Aaa rating is based on the highest credit quality of Fannie Mae (Aaa stable) and trustee-held investments, sound legal structure of the transaction, and cash flow projections that demonstrate sufficient revenues to pay full and timely debt service until maturity. Fannie Mae is providing a forward commitment to issue a Guaranteed Mortgage Pass-Through Certificate (MBS) by the MBS Delivery Date Deadline (preliminarily expected to occur on January 11, 2020), which MBS principal and interest are passed through to bondholders monthly.

  • Reuters

    UPDATE 1-U.S. housing finance agency to revisit key Fannie, Freddie capital rule

    The U.S. housing finance regulator on Tuesday said it planned to re-issue new capital rules for mortgage giants Fannie Mae and Freddie Mac next year, in a development that is likely to slow the pair's removal from government control. The Federal Housing Finance Agency (FHFA) said it would again propose the rule first unveiled in July 2018 in light of the administration's decision to begin rebuilding the mortgage giants' capital bases as part of a broader plan to ultimately remove them from government conservatorship. "In fairness to all interested parties, the comments submitted during the previous rulemaking were submitted under a different set of assumptions about the future of the enterprises," said FHFA director Mark Calabria in a statement.

  • U.S. growth outlook in 2020 improves despite trade risk - Fannie Mae
    Reuters

    U.S. growth outlook in 2020 improves despite trade risk - Fannie Mae

    Fannie Mae on Monday upgraded its forecast for 2020 U.S. economic growth to 1.9% from 1.7%, arguing that consumer spending and the housing market will buoy gross domestic product if a "phase one" trade deal between the United States and China is signed. The government-sponsored enterprise is betting not only that a deal will be passed, but that it will happen in time for the Dec. 15 tariffs on Chinese goods to be scrapped. "Even as global uncertainties mount, we continue to expect the domestic economy to produce solid, if not spectacular, growth," said Doug Duncan, chief economist at Fannie Mae.

  • U.S. growth outlook in 2020 improves despite trade risk: Fannie Mae
    Reuters

    U.S. growth outlook in 2020 improves despite trade risk: Fannie Mae

    Fannie Mae on Monday upgraded its forecast for 2020 U.S. economic growth to 1.9% from 1.7%, arguing that consumer spending and the housing market will buoy gross domestic product if a "phase one" trade deal between the United States and China is signed. The government-sponsored enterprise is betting not only that a deal will be passed, but that it will happen in time for the Dec. 15 tariffs on Chinese goods to be scrapped. "Even as global uncertainties mount, we continue to expect the domestic economy to produce solid, if not spectacular, growth," said Doug Duncan, chief economist at Fannie Mae.

  • Thomson Reuters StreetEvents

    Edited Transcript of FNMA earnings conference call or presentation 31-Oct-19 12:00pm GMT

    Q3 2019 Federal National Mortgage Association Earnings Call

  • Moody's

    J.P. Morgan Mortgage Trust 2019-9 -- Moody's assigns provisional ratings to Prime RMBS issued by J.P. Morgan Mortgage Trust 2019-9

    Moody's Investors Service ("Moody's") has assigned provisional ratings to 34 classes of residential mortgage-backed securities (RMBS) issued by J.P. Morgan Mortgage Trust (JPMMT) 2019-9. The certificates are backed by 998 30-year, fully-amortizing fixed-rate mortgage loans with a total balance of $680,976,702 as of the November 1, 2019 cut-off date. Similar to prior JPMMT transactions, JPMMT 2019-9 includes agency-eligible mortgage loans (10.13% by loan balance) underwritten to the government sponsored enterprises (GSE) guidelines in addition to prime jumbo non-agency eligible mortgages purchased by J.P. Morgan Mortgage Acquisition Corp. (JPMMAC), the sponsor and mortgage loan seller, from various originators and aggregators.