|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.1300 - 3.2400|
|52 Week Range||2.0200 - 4.2300|
|Beta (5Y Monthly)||2.09|
|PE Ratio (TTM)||231.43|
|Earnings Date||May 03, 2017 - May 07, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Aug 12, 2008|
|1y Target Est||4.25|
Economists say that 2020 will be a positive — though not exactly stellar — year for the housing market. “If interest rates go up 100 basis points, we’ll be off,” Doug Duncan, chief economist at Fannie (FNMA) said. If the past year is any indication, predicting the housing market’s trajectory a year or more out can be something of a fool’s errand.
Looking to buy a house? Unless you qualify for one of the relatively few government-backed lending programs you'll probably need a conventional loan. Here's how it works.
Fannie Mae (OTCQB: FNMA) provided more than $70 billion in financing to support the multifamily market in 2019, the highest volume in the history of its Delegated Underwriting and Servicing (DUS®) program. Fannie Mae continues to build a broad and diverse investor base, while providing financing that meets the needs of our customers in all multifamily market segments in the United States.
Fannie Mae (OTCQB: FNMA) today announced the selection of five innovative ideas to receive contract awards under phase three of the Sustainable Communities Innovation Challenge (The Challenge). The Challenge is a nationwide competition to generate solutions to the nation's affordable housing issues. In the final phase, Fannie Mae sought innovations at the intersection of affordable housing, education, and economic mobility.
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) 2020-LTV1. The certificates are backed by 645, 30-year, fully-amortizing fixed-rate mortgage loans with a total balance of $430,287,416 as of the January 1st, 2020 cut-off date.
Fannie Mae (OTCQB: FNMA) priced Connecticut Avenue Securities® (CAS) Series 2020-R01, a $1.03 billion note offering that represents Fannie Mae's first CAS REMIC® transaction of the year. CAS is Fannie Mae's benchmark issuance program designed to share credit risk on its single-family conventional guaranty book of business.
Moody's Investors Service ("Moody's") assigns a rating of Aaa to the proposed $70,000,000 of New Mexico Mortgage Finance Authority (the "Authority" or "NMMFA") Single Family Mortgage Program Class I Bonds, 2020 Series A (Tax-Exempt) (Non-AMT). For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.
Two Dutch companies were among the most actively traded securities on OTC Markets in December, the first time all year that companies from northern Europe had such high trading volume in a given month. ...
(Bloomberg) -- The U.S. Supreme Court could say as early as Friday whether it will intervene in a high-stakes fight over hundreds of billions of dollars in Fannie Mae and Freddie Mac profits that investors say the federal government has collected illegally.The justices meet Friday to discuss whether they will review scores of cases, including appeals from each side on the so-called net-worth sweep, which has funneled more than $300 billion in Fannie and Freddie profits to the Treasury since 2013.Together, the appeals could determine whether the sweep can continue, whether the shareholders have leverage to extract an expensive settlement, and even how much job security Federal Housing Finance Agency Director Mark Calabria will have. The dispute could also affect plans by President Donald Trump’s administration to end the government’s control of Fannie and Freddie.The case “is of immense practical importance,” the administration told the justices in court papers.Fannie Mae and Freddie Mac help keep the U.S. housing market humming by buying mortgages from lenders and packaging them into bonds that are sold to investors with guarantees of interest and principal.After the housing market cratered in 2008, the companies were put into federal conservatorship and sustained by taxpayer aid. They have since returned to profitability and paid $115 billion more in dividends to the Treasury than they received in bailout funds. Since 2013, nearly all their profits have been sent to the Treasury under the net-worth sweep. ‘Cloud of Uncertainty’In their lawsuit, three investors contend the FHFA exceeded its authority when it set up the net-worth sweep in 2012. The administration counters that the 2008 law that established the FHFA precludes lawsuits over the arrangement.A splintered federal appeals court rejected the administration’s contentions, saying the lawsuit could go forward.Both sides now are asking the Supreme Court to review that conclusion. The suing shareholders say everyone would benefit from clarity.“So long as there is a credible threat that litigation will invalidate the net-worth sweep, a cloud of uncertainty will hang over the companies’ capital structure,” the shareholders told the Supreme Court. “Investors will not be willing to supply the tens of billions of dollars in new capital that are essential to Treasury’s reform plan.“Shares of Fannie and Freddie have surged over the past year on expectations that the courts may act and that the Trump administration will take steps to end U.S. control. A move to free the companies is expected to include an initial public offering or other event where Fannie and Freddie seek to raise new capital from investors.The Trump administration told the high court that legal uncertainty “may frustrate the federal government’s proposed and ongoing efforts to reform the housing finance system and to end the ongoing conservatorships of the enterprises.” Calabria’s AppointmentComplicating matters is a second appeal, filed by the investors, that says Congress unconstitutionally limited the circumstances under which the president can fire the FHFA director. The investors say that violation of the Constitution’s appointments clause offers an additional ground for tossing out the net-worth sweep.The Supreme Court is already set to consider whether Congress violated the appointments clause by insulating the director of the Consumer Financial Protection Bureau from being fired. Arguments are set for March 3 and a ruling is likely by the end of June. The court could defer acting on the Fannie and Freddie investors’ appeal until the CFPB case is resolved.Ironically, that line of argument could undercut Calabria, a former chief economist to Vice President Mike Pence and champion of efforts to free Fannie and Freddie from government control.Calabria just began a five-year term that could let him outlast Trump. Should the courts rule that the director was given too much job protection, and should a Democrat win the presidential election in November, Calabria would be vulnerable to being fired next year by the new president. Ending the SweepCalabria and Treasury Secretary Steve Mnuchin have said they plan to make additional changes to Fannie and Freddie’s bailout agreement and would eventually like to end the sweep. They took a key step toward doing that in September when they let Fannie and Freddie retain more of their earnings than previously allowed. The deal essentially halted the net-worth sweep, and it will likely be more than a year before the companies will have to send additional earnings to Treasury. Resolving legal issues surrounding Fannie and Freddie could be a crucial step if the companies are going to attract new investors, according to analysts. It could spur the administration to push ahead with its planned changes and perhaps even consider a settlement.“The Supreme Court’s consideration of this case is significant insomuch as it impacts the administrative reform conversation,” said Isaac Boltansky, financial regulation analyst at Compass Point Research & Trading. “The shareholder cases are meaningful because they could conceivably force action or expedite timelines, but this is still predominantly about what the FHFA and Treasury Department can accomplish.”The cases are Collins v. Mnuchin, 19-422, and Mnuchin v. Collins, 19-563. To contact the reporters on this story: Greg Stohr in Washington at email@example.com;Elizabeth Dexheimer in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Joe Sobczyk at email@example.com, Laurie Asséo, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Moody's Investors Service has assigned Aaa ratings to approximately $57 million of Iowa Finance Authority ("IFA" or the "Authority") Single Family Mortgage Bonds, 2020 Series A (Non-AMT) and $20 million Single Family Mortgage Bonds, 2020 Series C (Taxable) (Mortgage Backed Securities Program) ("2020 Bonds"). The Aaa rating assigned to the 2020 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. The 2020 Bonds will be issued under the 1991 Resolution and will be equally and ratably secured with other series of bonds previously issued under the 1991 Resolution.
Fannie Mae (OTCQB: FNMA) announced today that all Connecticut Avenue Securities® (CAS) deals issued as direct debt have received designations for the 2019 filing year from the National Association of Insurance Commissioners (NAIC). Four M-2 bonds were upgraded to an NAIC 1 designation and two M-2 bonds were upgraded to an NAIC 2 designation.
The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) remained mostly flat in December, increasing 0.2 points to 91.7 and inching nearer the survey high set in August. Three of the six HPSI components increased month over month, including the percentage of Americans who believe that home prices will go up over the next 12 months, which rose from 44% to 50%. Year over year, the HPSI is up 8.2 points, driven primarily by consumers' favorable mortgage rate expectations and a growing share reporting it's a good time to buy a home.
Moody's Investors Service has assigned Aaa to Indiana Housing and Community Development Authority's (IHCDA), proposed $61,380,000 Single Family Mortgage Revenue Bonds, 2020 Series A. We also maintain the Aaa ratings on all outstanding parity Single Family Mortgage Revenue Bonds. The Aaa rating is based on the program's strong financial position (program asset-to-debt ratio of 1.52 as of December 31, 2018), high quality Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC) mortgage backed securities (MBS), a sound legal structure, cash flow projections that exhibit sufficient revenues to pay timely debt service under various stressful scenarios and satisfactory management.
Moody's Investors Service has assigned an Aaa rating to Ohio Housing Finance Agency, OH's (OHFA) $150 million Residential Mortgage Revenue Bonds (Mortgage-Backed Securities Program) 2020 Series A (Non-AMT). Moody's Investors Service also maintains the Aaa rating on approximately $1076 million of outstanding parity bonds as of October 31, 2019. The Aaa ratings assigned to the 2020 Series A Bonds reflect the high quality collateral comprised of GNMA, Fannie Mae and Freddie Mac Mortgage-Backed Securities (MBS), the 1.24x program asset-to-debt ratio (as of 6/30/18) and the program's strong historical financial performance.
(Bloomberg) -- Polls showing an upswing for President Donald Trump’s re-election chances against top potential Democratic candidates favor housing finance and mortgage giants Fannie Mae and Freddie Mac, according to Height Capital Markets.Under a continued Trump administration, the Federal Housing Finance Agency is likely to allow Fannie and Freddie to raise capital and exit conservatorship in 2021 and 2022, Height analyst Edwin Groshans wrote in a note. He cited polls, including a Dec. 16 USA Today survey, showing Trump leading Democratic rivals.“In 2020, we expect significant progress” on both administrative and legal fronts, Groshans said, including ending the so-called “net worth sweep” of Fannie and Freddie’s profits to the Treasury. “While the process is taking significantly longer than we initially projected, the momentum continues to be positive,” he said.Earlier, Cowen & Co. senior policy analyst Jaret Seiberg flagged the Senate confirmation of Mark Calabria as FHFA director in a note on the year’s dominant policy issues. Seiberg said that Calabria has “done more in six months to advance the recap and release of Fannie and Freddie from conservatorship” than all his predecessors combined. “Recap and release” refers to the process of bolstering the companies’ ability to absorb losses and then returning them to private ownership.Common shares in Fannie Mae have soared 188% this year, and Freddie Mac by 175%, on optimism that change is coming to the housing finance system. Fannie gained as much as 1.7% in Tuesday trading; Freddie rose as much as 2.1%.Height’s Groshans maintained a buy rating on all series of the junior preferred shares of Fannie and Freddie. He rates the common shares of both hold.(Michael Bloomberg is seeking the Democratic nomination. He is the founder and majority shareholder of Bloomberg LP, the parent company of Bloomberg News.)To contact the reporter on this story: Felice Maranz in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Scott SchnipperFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Fannie Mae's (OTCQB: FNMA) November 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 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-INV3. 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. Similar to prior JPMMT transactions backed by 100% investment property loans, JPMMT 2019-INV3 includes GSE-eligible mortgage loans (97.9% by loan balance) mostly originated by JPMorgan Chase Bank, National Association (JPMCB), United Shore Financial Services d/b/a United Wholesale Mortgage and Shore Mortgage (United Shore) and Quicken Loans Inc. (Quicken) underwritten to the government sponsored enterprises (GSE) guidelines.
Freddie Mac has offered early retirement to around 25% of its staff as it begins to overhaul its workforce amid a broader push by the Trump administration to reform the housing finance giant, according to four people briefed on the matter. The company has offered the packages to 1,650 eligible employees, although it expects around one quarter or just over 6% of its workforce to take the buyout, one of the people said. Two of the sources briefed on the matter said that the early retirement program had been communicated to staff who are eligible.
Moody's Investors Service has assigned a Aaa rating to the proposed $6,480,000 Housing Authority of the City of Charlotte, N.C., Multifamily Housing Taxable Revenue Bonds, (Archdale Flats-Family), Series 2019B. The Aaa rating is based on the high credit quality of trustee-held investments and the sound legal structure of the transaction. The trustee will then exchange the bonds for the MBS at which time the bonds will be cancelled.
Moody's Investors Service has assigned a Aaa rating to the proposed $21,161,000 Housing Authority of the City of Charlotte, N.C. Multifamily Housing Tax-Exempt Mortgage-Backed Bonds (M-TEMS) (Archdale Flats-Family), Series 2019A (FN). The Aaa rating of this forward M-TEMS transaction is based on the high credit quality of the Federal National Mortgage Association (Fannie Mae, Aaa stable) mortgage-backed security (MBS) and strong legal structure where principal and interest are passed through to bondholders monthly. Fannie Mae is providing a forward commitment to guaranty the permanent financing by issuing the MBS after the construction phase is complete.
Strength in labor markets and consumer spending, both of which are expected to lead to further improvement in business fixed investment, contributed to upward revisions of fourth quarter 2019 and full-year 2020 real GDP growth forecasts, according to the latest commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. Additionally, housing-related elements of the ESR Group's forecast also strengthened considerably, including expected increases in residential fixed investment driven by a significant uptick in the ESR Group's forecast for new single-family housing starts and sales.
Moody's Investors Service has assigned Home Point Financial Corporation (Home Point) a servicer quality assessment of SQ3+ as a primary servicer of prime residential mortgage loans. Headquartered in Ann Arbor, MI, Home Point is a residential mortgage originator and servicer. Home Point uses comprehensive scorecards to provide daily and monthly feedback to collection agents.