|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.7300 - 3.0500|
|52 Week Range||0.9800 - 3.1800|
|Beta (3Y Monthly)||4.55|
|PE Ratio (TTM)||276.36|
|Earnings Date||May 4, 2017 - May 8, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.50|
On March 27th, President Trump issued a memorandum to the Secretary of the Treasury and the Secretary of Housing and Urban Development directing them to craft housing finance reform plans. The directive to Treasury listed "ending the conservatorships of the GSEs" as its first goal and instructed Treasury to specify for each reform included in the plan "whether the proposed reform is a 'legislative' reform that would require congressional action or an 'administrative' reform that could be implemented without congressional action. For each 'administrative' reform, the Treasury Housing Reform Plan shall include a timeline for implementation." A response from Treasury is expected in the next two to three months.
Pershing Square Holdings generated strong performance during the first quarter of 2019 and year-to -date. NAV per share increased 36.9% during the first quarter and by 38.4%1 year-to-date, compared with the S&P 500's year-to-date total return of 13.9%. Warning! GuruFocus has detected 5 Warning Signs with FNMA.
Trump, speaking Friday at a conference hosted by the National Association of Realtors, said that the mortgage giants lack competition, that taxpayers remain on the hook for any losses at the companies and that they aren’t being run as well as they could be. The president’s remarks reflect the White House’s determination to release the companies from conservatorship, something lawmakers and policy makers have failed at for years.
U.S. President Donald Trump said on Friday his administration was looking at alternatives to the conservatorship of mortgage giants Fannie Mae and Freddie Mac. "Fannie and Freddie can do a lot better ...
On Thursday, the Wall Street Journal reported that Craig Phillips, a top deputy to Treasury Secretary Steven Mnuchin, is leaving the federal agency. Phillips was formerly a top executive at BlackRock, Inc. (NYSE: BLK), and was known within the Trump administration as being a liaison between the Treasury and Wall Street.
The departure of Craig Phillips was announced Thursday by the Treasury. As a counselor to Mnuchin, Phillips has taken the lead on domestic financial policy initiatives, including the rule rollback and developing plans for freeing mortgage giants Fannie Mae and Freddie Mac from federal control.
Craig Phillips, a deputy to Treasury Secretary Steven Mnuchin who joined the department to overhaul Fannie Mae and Freddie Mac , is stepping down, he told Treasury staff members Thursday. The news was first reported by the New York Times. Shares of the two government-sponsored enterprises have both more than doubled this year after MarketWatch first broke the news that the Trump administration would likely attempt to reform the companies without Congressional input. In March Mark Calabria, a former aide to Vice President Mike Pence, was confirmed to lead the agency that regulates the two GSEs, and has since signaled he may make good on those plans. "Craig has been critical in establishing a housing policy finance reform framework, and will stay until the completion of the Treasury Housing Reform Plan," a Treasury department spokesperson said in an email.
Moody's Investors Service has assigned Aaa rating to the proposed $19,000,000 Texas Department of Housing and Community Affairs, Multifamily Housing Revenue Bonds (Pass-Through -- Northgate Village), Series 2019. The Aaa rating is based on the high credit quality of the Guaranteed Pass-Through Certificate (MBS) issued by Fannie Mae, a sound legal structure where principal and interest are passed through to bondholders monthly, and cash flow projections that exhibit sufficient revenues to pay full and timely debt service until maturity.
Moody's Investors Service has assigned a Aaa rating to the proposed $80,000,000 Illinois Housing Development Authority's Revenue Bonds, 2019 Series C (Non-AMT) (2019 C Bonds). Aaa ratings on all outstanding Revenue Bonds (RB Program) have been maintained.
Moody's Investors Service ("Moody's") has assigned definitive ratings to five classes of residential mortgage-backed securities (RMBS) issued by Mello Warehouse Securitization Trust 2019-1. The definitive rating on Class C, Class D and Class E is higher than the provisional rating assigned because the actual weighted average coupon of all the notes is lower than the assumed weighted average coupon used for assigning the provisional ratings. Mello Warehouse Securitization Trust 2019-1 is a securitization backed by a revolving warehouse facility sponsored by loanDepot.com, LLC (loanDepot, the repo seller, unrated).
(Bloomberg Opinion) -- Trump administration officials announced last week that if Congress doesn’t come up with a plan to overhaul Fannie Mae and Freddie Mac in the next couple years, they will. Their plan is to simply privatize the two giant mortgage banks. A better one would be to liquidate them.
WASHINGTON , May 14, 2019 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its eleventh reperforming loan sale transaction. The deal, which was announced on April 11, 2019 , included ...
WASHINGTON , May 14, 2019 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced its latest sale of non-performing loans, including the company's fifteenth Community Impact Pool. Community Impact Pools ...
Congress is likely to resist attempts by US president Donald Trump’s administration to privatise the two companies that guarantee most American mortgages, the most senior Democrat working on the plans has warned. In his role on the banking committee, Mr Brown is working with his Republican counterpart Mike Crapo on a bill to release the two entities from the government.
The travails of Fannie and Freddie illustrate eloquently how a public-private partnership can go wrong. For decades, the two operated as privately owned companies, but with a congressional charter to guarantee payments of interest and principal on mortgage loans — guarantees that underpin the traditional 30-year fixed-rate loan, support a global market for U.S. mortgage-backed securities, and make homeownership accessible to millions of Americans. The crucial role that Fannie and Freddie play in housing finance led investors to think the government would always rescue them in an emergency.
The comments by Federal Housing Finance Agency Director Mark Calabria in a Tuesday interview are a clear sign that regulators and President Donald Trump’s administration aren’t counting on a legislative solution after more than a decade of failures to address the biggest piece of unfinished business from the 2008 financial crisis. Lawmakers will get “at least an entire Congress” to act before the companies are freed, said Calabria, who took over at FHFA last month.
Rating Action: Moody's assigns Aaa Ratings to MN Housing's Homeownership Fin. New York, May 07, 2019 -- Moody's Investors Service has assigned a Aaa rating to Minnesota Housing Finance Agency's ("Minnesota Housing" or the "Agency") proposed $11 million of Homeownership Finance Bonds, 2019 Series C (Non AMT) (Mortgage-Backed Securities Pass-Through Program) and $25 million 2019 Series D (Taxable) (Mortgage-Backed Securities Pass-Through Program) (the "2019 Bonds"). The Aaa ratings on all outstanding Homeownership Finance Bonds have also been maintained.
Rating Action: Moody's Assigns Aaa/VMIG 1 to Iowa FA's Single Family Mtg. New York, May 06, 2019 -- Moody's Investors Service has assigned Aaa/VMIG 1 ratings to approximately $20 million of Iowa Finance Authority ("IFA" or the "Authority") Single Family Mortgage Bonds, 2019 Series B (Non-AMT)(Variable Rate) (Mortgage-Backed Securities Program) ("2019 B Bonds"). The Aaa rating assigned to the 2019 B Bonds reflect the high quality collateral comprised of GNMA, Fannie Mae and Freddie Mac Mortgage-Backed Securities (MBS), the 1.23x program asset-to-debt ratio (as of 6/30/18) and the program's strong historical financial performance.
Moody's Investors Service ("Moody's") has assigned provisional ratings to five classes of residential mortgage-backed securities (RMBS) issued by Mello Warehouse Securitization Trust 2019-1. Mello Warehouse Securitization Trust 2019-1 is a securitization backed by a revolving warehouse facility sponsored by loanDepot.com, LLC (loanDepot, the repo seller, unrated). The securities are backed by a revolving pool of newly originated first-lien, fixed rate and adjustable rate, residential mortgage loans which are eligible for purchase by Fannie Mae and Freddie Mac or in accordance with the criteria of Ginnie Mae for the guarantee of securities backed by mortgage loans to be pooled in connection with the issuance of Ginnie Mae securities.
WASHINGTON , May 1, 2019 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today reported its first quarter 2019 results and filed its first quarter 2019 Form 10-Q with the Securities and Exchange Commission. The ...
Moody's Investors Service (Moody's) has assigned definitive ratings to 22 classes of residential mortgage-backed securities (RMBS) issued by J.P. Morgan Mortgage Trust (JPMMT) 2019-3. The certificates are backed by 591 30-year, fully-amortizing fixed-rate mortgage loans with a total balance of $387,326,703 as of the April 1, 2019 cut-off date. Similar to prior JPMMT transactions, JPMMT 2019-3 includes conforming mortgage loans (39% by loan balance) mostly originated by United Shore Financial Services, LLC d/b/a United Wholesale Mortgage and Shore Mortgage (United Shore), JPMorgan Chase Bank, National Association (Chase), AmeriHome Mortgage Company, LLC (AmeriHome) and LoanDepot.com, LLC (LoanDepot) underwritten to the government sponsored enterprises (GSE) guidelines in addition to prime jumbo non-conforming mortgages purchased by J.P. Morgan Mortgage Acquisition Corp. (JPMMAC), sponsor and mortgage loan seller, from various originators and aggregators.
WASHINGTON, April 29, 2019 /PRNewswire/ -- Today, Fannie Mae (FNMA) announced and priced its fourth issuance of Secured Overnight Financing Rate (SOFR) securities, issuing $2.5 billion of 18-month, floating-rate corporate debt. "Today's transaction is an opportunity to maintain a SOFR curve out to 18 months," said Nadine Bates, Senior Vice President and Treasurer, Fannie Mae. "We recently hit the one-year anniversary of the first publication of SOFR and, in a short amount of time, have seen significant growth in this market. It is important to continue the momentum toward developing alternatives to the London Interbank Offered Rate (LIBOR).
Company to Host Media Conference Call WASHINGTON , April 26, 2019 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced plans to report its first quarter 2019 financial results on Wednesday morning, ...
Berkshire Hathaway Chairman and CEO Warren Buffett speaks at the 2019 Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska. Buffett said it would be “very good for America” if Fannie Mae and Freddie Mac did more to help finance manufactured homes, such as those made by Berkshire-owned Clayton Homes.