|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||16.00 - 16.00|
|52 Week Range||8.25 - 18.75|
|Beta (3Y Monthly)||1.61|
|PE Ratio (TTM)||28.07|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
, the government-backed companies best known for their 30-year home loans, have emerged as the dominant source for rental apartment mortgages, too. The agencies’ cheap loans help push up property values and attract investors to buildings in gentrifying urban neighborhoods. Now, as federal lawmakers debate Fannie and Freddie’s future, their multifamily activities are also getting attention.
Fannie Mae and Freddie Mac said on Thursday they will pay a combined $4.7 billion in dividends to the U.S. Treasury Department by March as the housing finance agencies posted stronger annual 2018 net incomes than a year earlier. In September 2008, the government took control of the two government-sponsored enterprises in a $187 billion bailout during the global credit crisis after they were exposed to soured subprime mortgages. The two agencies have handed over their profits to the U.S. Treasury under the terms of the conservatorship.
Mark Calabria, the libertarian economist who Trump has nominated to lead the Federal Housing Finance Agency, told senators Thursday that they should play a leading role in pursuing changes for the mortgage giants, which have been under U.S. control since 2008. “We need an open, competitive market,” Calabria said at his confirmation hearing before the Senate Banking Committee. Fixing Fannie and Freddie, which underpin the mortgage market by buying loans from lenders, is the main unresolved issue from the 2008 financial crisis.
(FNMA) swung back to a profit at the end of the year, reporting net income of $3.23 billion in the fourth quarter. The company better known as Fannie Mae recorded a net loss of $6.5 billion in the fourth quarter of 2017 after recording a tax payment related to the remeasurement of its deferred tax assets. Net revenue fell 8% to $5.12 billion, Fannie said, as net-interest income, which accounts for the vast majority of revenue, fell.
The company, which started in 2014, announced Thursday that it raised $33 million in a Series B funding round led by Index Ventures, the London and San Francisco-based venture capital firm that has backed companies like Adyen, Deliveroo and Slack. “Essentially in all other industries, there is no real equivalent, where this much money trades hands with this little information,” van den Dries said in an interview. GeoPhy amalgamates and analyzes thousands of data points – from satellite images, sales data and property records to crime rates, green spaces and the density of nearby independent coffee shops -- to determine property valuations.
Former Fannie Mae executive Tim Rood and FOX Business’ Charlie Gasparino discuss the potential risk of overhauling Fannie Mae and Freddie Mac without Congress.