FNM.SG - FEDERAL NATIONAL MORTGAGE ASS.R

Stuttgart - Stuttgart Delayed Price. Currency in EUR
1.8470
-0.0310 (-1.65%)
As of 8:31PM CEST. Market open.
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Previous Close1.8780
Open1.8660
Bid1.8395 x 3000000
Ask1.8830 x 3000000
Day's Range1.8380 - 1.8725
52 Week Range1.1920 - 3.8000
Volume1,670
Avg. Volume20,688
Market CapN/A
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
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    • MarketWatch

      FSOC to evaluate risks posed by the secondary mortgage market

      The Financial Stability Oversight Council said Tuesday that it will begin a review of the secondary mortgage market. The evaluation will determine what risks activities in the secondary mortgage market pose to the stability of the broader financial system. Regulators will also work to see what approaches best mitigate those risks. The announcement received the support of the Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac . "As demonstrated by the 2008 financial crisis and again by COVID-19, Fannie Mae and Freddie Mac must be well capitalized in order to support the mortgage market during a stressed environment," FHFA Director Mark Calabria said in response to the news.

    • Economic Growth Expectations Improve Slightly, Remain Tied to Broader COVID-19 Recovery
      PR Newswire

      Economic Growth Expectations Improve Slightly, Remain Tied to Broader COVID-19 Recovery

      A faster-than-expected pace of recovery in the second quarter contributed to an improvement in expectations for full-year 2020 economic growth, according to the latest commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. Despite the recent resurgence in COVID-19 cases – and the potential for localized measures that may slow otherwise re-opening economies – the ESR Group upgraded its forecast for 2020 annual growth to negative 4.2 percent, compared to last month's forecast of negative 5.4 percent. Incoming data suggest that the recovery in consumer spending was stronger than anticipated in May and that it likely carried forward much of that momentum into June. The ESR Group also noted that housing continues to show remarkable strength and upwardly revised its home sales, home price growth, and purchase mortgage origination forecasts accordingly. Residential fixed investment is now expected to grow significantly in the third quarter before pulling back in the latter part of 2020.

    • Moody's

      Iowa Finance Authority -- Moody's Assigns Aaa to Iowa FA's Single Family Mtg. Bds. 2020 D&F; outlook stable

      Moody's Investors Service has assigned Aaa ratings to approximately $43 million of Iowa Finance Authority's ("IFA" or the "Authority") Single Family Mortgage Bonds, 2020 Series D (Non-AMT) and $8 million Single Family Mortgage Bonds, 2020 Series F (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 1.19x program asset-to-debt ratio (as of 6/30/19) and the program's strong financial performance. If our view of the credit quality of IFA or the 1991 Resolution changes, we will update the rating and/or outlook at that time.

    • Fannie-Freddie Profit Sweep Draws U.S. Supreme Court Review
      Bloomberg

      Fannie-Freddie Profit Sweep Draws U.S. Supreme Court Review

      (Bloomberg) -- The U.S. Supreme Court agreed to decide whether investors can challenge the 2012 agreements that let the federal government collect hundreds of billions of dollars of Fannie Mae and Freddie Mac’s profits.The justices said they will hear an appeal by President Donald Trump’s administration of a ruling that would force the government to defend against a shareholder lawsuit. The investors say the agreements exceed the authority of the Federal Housing Finance Agency, which regulates the two mortgage giants.Fannie jumped 5.7% to close at $2.22 in New York trading, while Freddie rose 6.7% to $2.23.A ruling in the investors’ favor would give them a chance to collect a massive settlement. Fannie and Freddie have paid more than $300 billion in dividends to the Treasury under the so-called net-worth sweep.The administration told the court the dispute “is of immense practical importance.” The justices will hear the case in the nine-month term that starts in October.The Supreme Court on Thursday also agreed to hear an appeal from shareholders challenging the profit sweep under a different legal theory.Fannie Mae and Freddie Mac 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.‘Cloud of Uncertainty’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, most of their profits have been sent to the Treasury under the net-worth sweep.The administration contends the 2008 law that set up the FHFA precludes lawsuits that challenge the profit sweep. The law bars courts from doing anything to “restrain or affect the exercise of powers or functions of the agency as a conservator.”A splintered New Orleans-based federal appeals court let the lawsuit go forward, saying the FHFA wasn’t acting as a conservator when it agreed to the net-worth sweep.The suing shareholders said the appeals court reached the right conclusion. But they nonetheless urged the Supreme Court to hear the Trump administration appeal, saying all sides 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.”Shareholders in the New Orleans court said that the FHFA, which has a single director who can’t be fired without cause, has an unconstitutional structure, making its decision to enter the profit sweep invalid. While the divided New Orleans court agreed with shareholders that the FHFA’s structure is unconstitutional, it said that fact alone could not invalidate the sweep, leading to the shareholder appeal.“FHFA looks forward to the U.S. Supreme Court taking up” the case and clarifying the issues involved, the agency said in a statement.Trump administration officials, including Treasury Secretary Steven Mnuchin, have long stated that they want to end federal control by releasing Fannie and Freddie from conservatorship. Wall Street analysts have said they are skeptical of that happening before the November election, meaning the administration’s goal largely depends on Trump winning a second term.The government’s appeal is Mnuchin v. Collins, 19-563, and the shareholders’ appeal is Collins v. Mnuchin, 19-422.(Closes shares, adds FHFA statement starting in 3rd paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Moody's

      Mississippi Home Corporation -- Moody's assigns Aaa to Mississippi Home Corporation Single Family Mortgage Revenue Bonds, Series 2020B (Non-AMT)

      Moody's Investors Service ("Moody's") assigns a rating of Aaa to the proposed $48,715,000 of Mississippi Home Corporation (the "Corporation") Single Family Mortgage Revenue Bonds, Series 2020B (Non-AMT). Moody's maintains the rating on the outstanding program bonds. The Aaa rating reflects the high quality of the collateral which is comprised of 100% mortgage backed securities (MBS), the high overcollateralization of the program at 114%, as well as the strong profitability of 20.94% in 2019, based on audited financials after Moody's adjustments.

    • Fannie-Freddie Overseer Puts Squeeze on $50 Billion Bond Market
      Bloomberg

      Fannie-Freddie Overseer Puts Squeeze on $50 Billion Bond Market

      (Bloomberg) -- A bond market once thought to be key to the futures of Fannie Mae and Freddie Mac -- and the roughly $5 trillion of home loans they backstop -- could instead find itself on the scrap heap due to their own regulator.In the past several years, so-called credit-risk-transfer securities have been a primary way for government-controlled Fannie and Freddie to offload the risk of borrowers defaulting on their mortgages to private investors. The market value of such assets, known as CRT, has grown to about $50 billion, with mutual funds, hedge funds and real-estate investment trusts among investors snatching up the bonds.Some former government officials and housing-finance executives have even loftier ambitions and believe the swelling CRT market can largely eliminate the likelihood that U.S. taxpayers would ever again bail out Fannie and Freddie, as they did during the 2008 crisis.But a new rule proposal by the Federal Housing Finance Agency, which regulates the mortgage giants, would drastically cut Fannie and Freddie’s incentive to continue selling the bonds. The move would likely shrink the market significantly, in effect leading the companies to keep as much risk as they did when the housing market collapsed more than a decade ago, according to the proposal’s detractors“We think it might kill CRT, and that this might be their intent,” said Michael Bright, chief executive officer of the Structured Finance Association, whose members include investors in the risk-transfer securities.‘Likely Demise’The FHFA’s treatment of the assets “has been taken by many housing-finance policy specialists as an attempt to deliberately render the program uneconomic and thus ensure its likely demise,” former Freddie CEO Donald Layton wrote in a blog post published Monday.Layton released a separate white paper this week in which he wrote that FHFA Director Mark Calabria has expressed skepticism in private conversations over the effectiveness of CRT. Calabria, according to Layton, has sometimes compared the securities to credit default swaps, assets that didn’t provide the protection that investors expected during the 2008 meltdown and contributed significantly to the global credit crunch.The regulation that’s generating the debate over CRT is a plan FHFA released in May to boost capital standards for Fannie and Freddie by tens of billions of dollars. The objective is to ensure they have adequate cushions to absorb losses, thus paving the way to follow through on the Trump administration’s goal of releasing the companies from federal control. But the proposal, which could be finalized this year, would also severely curtail the capital relief that Fannie and Freddie receive for issuing CRT securities.Read More: Fannie-Freddie Capital Plan Seeks Buffers Above $200 Billion”The proposed rule continues to provide significant capital relief for CRT while ensuring that regulatory capital is appropriate for the exposures retained” by Fannie and Freddie, FHFA spokesman Raphael Williams said in an email. Williams said the agency will seek input to better assess how the proposal may impact the companies’ future business.Fannie and Freddie don’t make mortgages themselves. Instead, they buy loans from lenders, wrap them into securities and guarantee the payment of principal and interest to bond investors. That process has helped make the 30-year fixed-rate mortgage a fixture in the U.S. But it also leaves Fannie and Freddie exposed to losses if borrowers stop making their payments.To lessen the risk, Freddie and Fannie in 2013 began to sell credit-risk-transfer securities. CRT are a kind of bond whose performance depends on that of a pool of Fannie or Freddie mortgages. Money that investors use to buy CRT is put into a trust, and the investors get paid principal and interest unless too many mortgages sour.Former President Barack Obama’s Treasury Department, members of Congress and the FHFA under past Director Mel Watt all encouraged the issuance of CRT, since they believed the securities could transfer default risk to private investors and away from taxpayers.The secondary market for CRT is still relatively small, and at the beginning of the coronavirus pandemic, it nearly froze, with some investors reporting that they were having trouble even getting prices for some bonds. But by June, it had mostly recovered amid unprecedented government stimulus from the Federal Reserve and other agencies.Freddie’s OfferingOn Monday, Freddie announced the issuance of its first single-family CRT since March, saying that strong investor demand had prompted it to double the size of the offering.The capital hit that the FHFA rule would impose on such transactions is hard to overstate. In fact as of September 2019, the month that the FHFA used to illustrate its proposal, Fannie and Freddie wouldn’t get any capital relief at all, because the agency said the companies would be bound by a minimum leverage ratio.Even in other economic climates, when the leverage ratio wasn’t binding, Fannie and Freddie would get about half as much credit under Calabria’s proposal as they would have through an earlier regulation put forth by Watt that was never finalized.“If the rule as proposed goes through, it would make CRT uneconomic for Fannie Mae and Freddie Mac,” said Andrew Davidson, founder of Andrew Davidson & Co., a mortgage analytics firm.‘Punitive Approach’Advocates for the bonds have already started pushing back.At a House hearing with Treasury Secretary Steven Mnuchin and Fed Chairman Jerome Powell last week, Republican Representative Blaine Luetkemeyer of Missouri said the FHFA’s proposal “seems to have taken a confused and more punitive approach to certain types of CRT.”Mnuchin and Powell agreed that Fannie and Freddie should receive capital relief for issuing CRT. Mnuchin said the Financial Stability Oversight Council -- a Treasury-led panel whose members include Powell and the heads of other regulators -- was reviewing the FHFA’s proposal. It’s also being examined by the Fed, Powell added.The FHFA is accepting comments on the capital proposal until the end of August and has said it hopes to finalize the rule this year.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Housing Confidence Gaining Steam After Nearing Survey Low
      PR Newswire

      Housing Confidence Gaining Steam After Nearing Survey Low

      The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) increased 9.0 points in June to 76.5, building further on the prior month's advance after approaching a survey low in April. Four of the six HPSI components increased month over month, with consumers reporting a significantly more positive view of homebuying and home-selling conditions, as well as greater optimism regarding home price appreciation. Year over year, the HPSI is down 15.0 points.

    • Fannie Mae Releases May 2020 Monthly Summary
      PR Newswire

      Fannie Mae Releases May 2020 Monthly Summary

      Fannie Mae's (OTCQB: FNMA) May 2020 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.

    • Multifamily Green Bond Impact Report Highlights Financial, Social, and Environmental Benefits of Fannie Mae Loan Programs
      PR Newswire

      Multifamily Green Bond Impact Report Highlights Financial, Social, and Environmental Benefits of Fannie Mae Loan Programs

      Fannie Mae (OTCQB: FNMA) today published its second annual Multifamily Green Bond Impact Report, "A Decade of Positive Impact," to provide metrics on the projected financial, social, and environmental benefits from Fannie Mae Green Bonds for U.S. housing. As the largest green bond issuer in the world, Fannie Mae issued $22.8 billion in multifamily green mortgage-backed securities in 2019, comprising 32 percent of the company's total multifamily issuances. Since its first issuance in 2012, Fannie Mae has issued more than $75 billion in multifamily green bonds and $9 billion in green resecuritizations.

    • Fannie-Freddie Bulls Get Warning in High Court’s CFPB Ruling
      Bloomberg

      Fannie-Freddie Bulls Get Warning in High Court’s CFPB Ruling

      (Bloomberg) -- Fannie Mae and Freddie Mac investors just got another reason to hope that President Donald Trump turns around his sagging poll numbers and ultimately prevails in November.That’s because a Monday U.S. Supreme Court ruling signals that it’s going to be much easier for presidents to oust heads of some federal agencies. Fannie and Freddie’s regulator, the Federal Housing Finance Agency, is now run by Mark Calabria, a libertarian economist who’s committed to something shareholders desperately want: the mortgage giants’ release from government control. Calabria won’t likely get the chance to finish that job if Joe Biden wins the White House and fires him.In its Monday decision, the Supreme Court said the president has broad authority to remove the director of the Consumer Financial Protection Bureau because Congress went too far in insulating the financial industry watchdog from political pressure. In the 2010 Dodd-Frank Act, lawmakers stipulated that the president could only terminate the CFPB chief for “inefficiency, neglect of duty, or malfeasance in office.”The CFPB and FHFA have identical structures -- they are independent agencies run by a single director. Last September, a panel of federal appeals court judges in New Orleans concluded that the FHFA structure was unconstitutional. The Supreme Court has deferred acting on that case until it resolved the CFPB fight. The high court could now deal with the FHFA matter as soon as July 2.“This ruling should ensure that the president can now remove the FHFA director at will,” Cowen analyst Jaret Seiberg wrote in a note to clients. “This means election risk is significant for efforts to end the conservatorship, as Joe Biden could fire Calabria as FHFA director on Jan. 20 if the Democrat wins the election.”Fannie rose 6% to $2.15 in New York trading Monday, while Freddie gained 4.4% to $2.16.In a statement, Calabria said he respects the Supreme Court’s CFPB decision, while adding that it doesn’t “directly affect the constitutionality of FHFA, including the for cause removal provision.”Read More: The New Twist in Endless Fight Over Fannie and Freddie.Hedge funds and other shareholders have long wanted the Trump administration to help them make a windfall by halting the practice of funneling Fannie and Freddies’ profits to the Treasury and freeing the companies from conservatorship. Many of the policies implemented by Calabria since taking over in April 2019 have been focused on ending government control.Compass Point analyst Isaac Boltansky said Monday’s Supreme Court ruling could prompt Calabria to take on a “sense of urgency” because he may not have many months left leading the FHFA.(Updates with closing share prices in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Fannie Mae Announces Updated Protections for Renters Impacted by COVID-19
      PR Newswire

      Fannie Mae Announces Updated Protections for Renters Impacted by COVID-19

      To assist renters in multifamily units and support Fannie Mae-financed multifamily property owners experiencing difficulties during this period of financial uncertainty, Fannie Mae (OTCQB: FNMA) today announced updated renter protections and forbearance extensions for borrowers.

    • The number of Americans skipping mortgage payments drops for the first time since March
      MarketWatch

      The number of Americans skipping mortgage payments drops for the first time since March

      A smaller share of home loans are now in forbearance, but that could change if government assistance dries up.

    • Fannie Mae Collaborates with FHFA to Publish Translated COVID-19 Resources in Five Additional Languages, Helping Borrowers with Limited English Proficiency
      PR Newswire

      Fannie Mae Collaborates with FHFA to Publish Translated COVID-19 Resources in Five Additional Languages, Helping Borrowers with Limited English Proficiency

      To help limited English proficiency (LEP) borrowers who are experiencing mortgage-related difficulties due to the coronavirus national emergency, today the Federal Housing Finance Agency (FHFA) in coordination with Fannie Mae and Freddie Mac added new translations to the Mortgage Translations website. Site visitors can now choose English, Spanish, traditional Chinese, Vietnamese, Korean, or Tagalog when accessing scripts that servicers use when discussing COVID-19 forbearance with borrowers. The revised Mortgage Assistance Application (MAAp) is also available in the same six languages.

    • Morgan Stanley Advising Fannie on Exit; JPMorgan Assists Freddie
      Bloomberg

      Morgan Stanley Advising Fannie on Exit; JPMorgan Assists Freddie

      (Bloomberg) -- Fannie Mae hired Morgan Stanley to advise the mortgage giant on its eventual exit from U.S. control, while Freddie Mac retained JPMorgan Chase & Co.The Wall Street firms will assist Fannie and Freddie in implementing strategies to build up their capital buffers and get out of conservatorship. Fannie and Freddie, which the federal government took over at the height of the 2008 financial crisis, announced the hires in Monday statements.The announcements show that Fannie and Freddie are still pursuing plans to potentially raise billions of dollars through share sales even though the coronavirus crisis is raising questions about the health of the housing market. While releasing Fannie and Freddie is a top goal of the Trump administration, the pandemic has pushed back the time frame for ending U.S. control.Federal Housing Finance Agency Director Mark Calabria, Fannie and Freddie’s regulator, has said the companies could try to tap the capital markets as soon as next year, though it could take multiple share offerings spread over many months to fully capitalize them. A win in November by Democratic presidential candidate Joe Biden would complicate those plans if he tried to halt their exit from conservatorship.In its statement, Fannie said Morgan Stanley will provide strategic counsel on a range of topics, including options for raising capital. Freddie made similar remarks about JPMorgan in its statement. Calabria has said they need much bigger capital cushions to protect against losses outside the government’s grip.Fannie and Freddie don’t make mortgages themselves. Instead, the companies buy home loans from lenders and wrap them into securities to sell to investors with guarantees against borrowers defaulting. The U.S. took control of Fannie and Freddie as the housing market collapsed more than a decade ago.(Updates with background on plans for raising capital in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Fannie Mae Hires Financial Advisor
      PR Newswire

      Fannie Mae Hires Financial Advisor

      Fannie Mae (OTCQB: FNMA) today announced that it has hired Morgan Stanley & Co. LLC as underwriting financial advisor to assist in developing and implementing a plan for recapitalizing the company and responsibly ending its conservatorship.

    • U.S. Economic Growth Expectations Largely Unchanged as Lockdown Restrictions Ease
      PR Newswire

      U.S. Economic Growth Expectations Largely Unchanged as Lockdown Restrictions Ease

      Despite substantial revisions to the components constituting real GDP, headline growth expectations on a quarterly and full-year basis were only slightly changed compared to last month, according to the latest commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group now expects second quarter 2020 real GDP to fall 37.0 percent annualized, compared to the 36.6 percent decline predicted last month, and full-year 2020 GDP of negative 5.4 percent, one-tenth lower than the prior forecast of negative 5.3 percent. Its forecast for full-year 2021 growth, however, improved by one-tenth to 5.3 percent. The revisions to the underlying components reflect expectations that consumer spending and fixed investment will be stronger than previously forecast but largely offset by weaker net exports and business inventories. Risks to the ESR Group's macroeconomic forecast are largely balanced, with upside risks including an even faster rebound in consumer spending than currently expected, while a sustained resurgence or second wave of COVID-19 following the recent easing of lockdown restrictions remains the greatest downside risk.

    • Housing Is Hot With the Economy in the Deep Freeze
      Bloomberg

      Housing Is Hot With the Economy in the Deep Freeze

      (Bloomberg Opinion) -- No matter how you look at it, the economic fallout from the coronavirus is going to be brutal, with a projected 6.5% decline in real gross domestic product in 2020 and an unemployment rate of 9.3% at year-end, according to the Federal Reserve. In ordinary times, and without any policy response from government, a blow of this magnitude should weaken the housing market.Yet, what we're starting to see is the very opposite. For various reasons, the supply of homes on the market continues to fall to record lows and home prices are, if anything, accelerating. For many homeowners stressed about the value of their biggest investment, it's a welcome relief. But this signals one more hurdle for would-be millennial homebuyers as they age into their family-forming years.The biggest reason we're seeing home-price growth accelerating in the middle of a pandemic is that the disruption to the supply of housing is persisting longer than the disruption to demand -- that is, would-be buyers. Wednesday's weekly mortgage data showed that purchase applications rose for the eighth consecutive week and are approaching an 11-year high on a seasonally adjusted basis. Part of the reason for the quick rebound in demand is surely the decline in interest rates on mortgages to all-time lows, with few signs they are likely to rise for the foreseeable future.But as is always the case in the housing market, supply doesn't respond as quickly as demand. Single-family housing starts plunged in March and April, with the most recent report showing a 25% year-over-year tumble. Part of this decline is because construction in some states shutdown, and much more so in some regions than others. Single-family starts fell 73% in the Northeast but only 13% in the South. Even where construction continued, the pace slowed as builders adopted social distancing and other health measures to prevent the spread of the coronavirus.Even as demand rebounds, homebuilders may be slow to acquire new construction lots and might hold back on increasing production after getting the scare they did in March and April. They may prefer to wait a while to make sure these revived levels of demand are sustainable, while they also shore up their balance sheets before beginning to build at the same pace as earlier this year.Beyond the impact on construction, a little discussed factor leading to fewer homes on the market is mortgage forbearance programs put in place by banks, states and Fannie Mae and Freddie Mac. From a policy standpoint it's great that banks and governments are helping to prevent a deluge of foreclosure as millions of people lose their livelihoods because of the pandemic. But a consequence of that policy change is that it deprives the housing market of the supply of foreclosed properties that occurs even in strong economies and solid job markets; this amounted to almost 500,000 houses in 2019.Some homeowners may also be delaying the listing of their homes for sale because they're sheltering-in-place, or have lost their jobs and can no longer provide income verification to buy a different home. They may also not be comfortable having potential buyers, who could be carrying the virus, walking into their homes for sales showings.Put it all together and housing supply continues to fall. Mike Simonsen of Altos Research, who tracks real-time housing data, notes that there are only 700,000 single-family homes for sale in  U.S. compared to more than 900,000 at this time last year. Normally at this time of year the housing supply has been rising for a few months amid the traditional spring buying season, only to fall later in the year as activity slows. But that's not what we've seen during the past few months, as supply continues to contract. As a result, the percentage of homes for sale with price reductions is the lowest he's seen in his database, a leading indicator suggesting faster home-price growth in coming months.Presumably, at some point the coronavirus crisis will pass, foreclosures will move forward again and all participants in the housing market from would-be buyers, sellers and homebuilders resume normal behavior. To the extent home prices rose too high because of supply distortions, we should see home prices leveling off or even declining. But it's not clear that this will be a 2020 story. And in the meantime, steadily rising home prices may join steadily rising stock-market prices in the middle of a pandemic as a phenomenon that continues to flummox everyone.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Conor Sen is a Bloomberg Opinion columnist. He has been a contributor to the Atlantic and Business Insider.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • The Trump administration is preventing DACA recipients from getting federally-backed mortgages, Democratic lawmakers say
      MarketWatch

      The Trump administration is preventing DACA recipients from getting federally-backed mortgages, Democratic lawmakers say

      A group of Democratic lawmakers has called for an investigation into policy changes that have allegedly resulted in DACA recipients being denied FHA loans.

    • Fannie Mae Prices $719.5 Million Multifamily DUS REMIC (FNA 2020-M29) Under Its GeMS Program
      PR Newswire

      Fannie Mae Prices $719.5 Million Multifamily DUS REMIC (FNA 2020-M29) Under Its GeMS Program

      Fannie Mae (OTCQB: FNMA) priced its sixth Multifamily DUS® REMIC in 2020 totaling $719.5 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on June 10, 2020.

    • Home Purchase Sentiment Index Rises Slightly, Remains Near Survey Low
      PR Newswire

      Home Purchase Sentiment Index Rises Slightly, Remains Near Survey Low

      The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) increased 4.5 points in May to 67.5, building slightly after nearing its all-time survey low in April. Four of the six HPSI components increased month over month, with consumers reporting a somewhat more optimistic view of homebuying conditions and, to a lesser extent, home-selling conditions. Moreover, fewer consumers reported expectations that mortgage rates will go up over the next 12 months. Year over year, the HPSI is down 24.5 points.

    • Fannie Mae Releases April 2020 Monthly Summary
      PR Newswire

      Fannie Mae Releases April 2020 Monthly Summary

      Fannie Mae's (OTCQB: FNMA) April 2020 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.

    • TheStreet.com

      What Is a Conventional Loan?

      If you're interested in buying a home, you'll probably need to know about conventional loans.

    • Fannie Mae Executes Two Front-end Credit Insurance Risk Transfer Transactions on $40 Billion of Single-Family Loans
      PR Newswire

      Fannie Mae Executes Two Front-end Credit Insurance Risk Transfer Transactions on $40 Billion of Single-Family Loans

      Fannie Mae (OTCQB: FNMA) announced today that it has secured commitments for two front-end Credit Insurance Risk Transfer™ (CIRT™) transactions. CIRT FE 2020-1 and CIRT FE 2020-2 together cover up to $39.6 billion in unpaid principal balance of 21-year to 30-year original-term, fixed-rate loans, including loans previously acquired from November 2019 through January 2020 and also loans to-be acquired between February 2020 and January 2021. Combined, these two deals transfer up to $1.3 billion of mortgage credit risk, as part of Fannie Mae's ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market. To date, Fannie Mae has committed to acquire approximately $12.9 billion of insurance coverage on $475 billion of single-family loans through the CIRT program, measured at the time of issuance, for both post-acquisition (bulk) and front-end transactions.

    • Fannie Mae Launches "Here to Help" Education Effort
      PR Newswire

      Fannie Mae Launches "Here to Help" Education Effort

      Fannie Mae (OTCQB: FNMA) today launched "Here to Help," an education effort to connect U.S. homeowners and renters with tools and resources to navigate the available options if they experience a financial hardship due to COVID-19.

    • Home-price gains continued in March as the coronavirus pandemic swept the U.S., Case-Shiller index shows
      MarketWatch

      Home-price gains continued in March as the coronavirus pandemic swept the U.S., Case-Shiller index shows

      ‘The initial impact will be felt mostly on plunging sales and listings volumes, not prices,’ said Robert Kavcic, senior economist at BMO Capital Markets.