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Fannie Mae (FNMA) serves as a pivotal player in the U.S. housing finance sector, facilitating affordable homeownership and rental options for millions of Americans. As a leading source of mortgage financing, Fannie Mae partners with lenders to offer sustainable home loans and rental housing. The company’s efforts ensure the availability of the 30-year fixed-rate mortgage, providing homeowners with stable and predictable payments over the life of the loan.
Fannie Mae's core mission is to advance equitable and sustainable access to quality housing. The company's recent highlights include the sale of non-performing loans aimed at reducing retained mortgage portfolios and community impact initiatives like the Community Impact Pool (CIP). These initiatives are designed to benefit non-profit organizations, minority- and women-owned businesses, and smaller investors.
Fannie Mae actively engages in reperforming loan sales and continues to drive innovation in homebuying and renting solutions. The company's latest Home Price Index (FNM-HPI) reported a 7.4% year-over-year increase in Q1 2024, reflecting the ongoing demand and supply dynamics in the housing market. Fannie Mae's economic forecasts suggest a modest rise in home sales for 2024, despite higher mortgage rates.
The company also launched fixed-price cash tender offers for Connecticut Avenue Securities® Notes, demonstrating its proactive approach to financial management. Fannie Mae is committed to maintaining transparency with stakeholders, regularly updating its financial results and hosting informative conference calls.
Fannie Mae’s economic and strategic research group, recognized for its forecasting accuracy, continuously analyzes market trends to inform stakeholders and guide the company's strategic direction. Through responsible innovation and dedicated partnerships, Fannie Mae remains at the forefront of transforming the U.S. housing finance system.
Fannie Mae's Economic and Strategic Research Group has revised its housing market forecast, projecting only a 4% increase in existing home sales for 2025, down from the previous 11% forecast. This adjustment reflects recent significant increases in mortgage rates, now expected to end 2025 at 6.3% and remain above 6% through 2026. Despite challenges, new home sales are expected to improve, with builders offering buyer incentives. The group maintains its economic growth outlook near the long-run trend of 2.2%, though core inflation remains sticky. A significant 17% improvement in existing home sales is anticipated for 2026 as affordability conditions improve and pent-up demand materializes.
Fannie Mae (OTCQB: FNMA) has released its 2025 Benchmark Securities® Issuance Calendar, outlining monthly announcement dates for Benchmark Notes® offerings. Each scheduled date will either announce a specific maturity date or indicate no offering. The company also maintains the option for weekly Benchmark Bills® auctions with maturities of one year or less, typically held on Wednesdays between 9:00-9:45 a.m. ET. The size and maturity of these weekly auctions will be announced on the same day. Fannie Mae reserves the right to skip any scheduled issuance and will notify the market accordingly.
Fannie Mae (FNMA) has appointed Scott D. Stowell to its Board of Directors, bringing nearly 40 years of homebuilding industry experience. Stowell is the Founder, CEO, and President of Capital Thirteen , an advisory and real estate investment company. He previously served as CEO of Standard Pacific Homes and Executive Chairman of CalAtlantic Group. The appointment aims to leverage his expertise in addressing housing supply challenges and expanding mortgage credit access. Stowell currently serves on the boards of Toll Brothers, Pacific Mutual Holding Company, and HomeAid America.
Fannie Mae has approved the Mortgage Partnership Finance® (MPF®) Program to sell loans to Native Americans secured by tribal trust lands under its Native American Conventional Lending Initiative (NACLI). The program, administered by the Federal Home Loan Bank of Chicago on behalf of six Federal Home Loan Banks, will enable MPF Program Participating Financial Institutions serving tribal communities to offer conventional loans on tribal trust lands. This initiative expands financing options for Native American borrowers, complementing existing HUD Section 184 Indian Home Loan Guarantee Program loans. NACLI, established in 1996, was the first program to offer conventional loans on tribal trust lands.
The Fannie Mae Home Purchase Sentiment Index® (HPSI) rose 0.7 points to 74.6 in October 2024, reaching its highest level since February 2022. The share of consumers who believe it's a good time to buy a home increased to 20%, while those thinking it's a good time to sell declined to 64%. Despite improved overall housing sentiment, consumers remain concerned about high home prices. The survey shows a growing preference for renting over buying, with expectations of modest rent growth in 2025. Notably, 39% of respondents expect home prices to increase, while 39% anticipate mortgage rates to decrease in the next 12 months.
Fannie Mae (FNMA) has announced the results of its thirty-third reperforming loan sale transaction, involving 8,678 loans with a total unpaid principal balance of $1.42 billion. The sale was divided into three pools, with Pacific Investment Management Company winning Pools 1 and 2, and JP Morgan Mortgage Acquisitions Corp. securing Pool 3. The transaction is set to close by December 20, 2024. The weighted average note rates range from 3.82% to 4.03%, with loan-to-value ratios between 47% and 49%. The cover bids ranged from 82.09% to 84.375% of UPB.
Fannie Mae (FNMA) reported net income of $4.0 billion for the third quarter of 2024. The company has filed its Third Quarter 2024 Form 10-Q with the Securities and Exchange Commission, providing condensed consolidated financial statements for the period ended September 30, 2024. The company has scheduled a conference call to discuss these results, offering a listen-only webcast option for participants.
Fannie Mae (OTCQB: FNMA) has released its September 2024 Monthly Summary. The report includes data on gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, and serious delinquency rates. Key metrics cover both monthly and year-to-date activities, providing a comprehensive overview of the company's financial performance and risk profile.
Fannie Mae (FNMA) announced changes to eligibility requirements for its appraisal alternatives, Value Acceptance and Value Acceptance + Property Data, effective Q1 2025. For purchase loans on primary residences and second homes, the eligible loan-to-value (LTV) ratios will increase from 80% to 90% for Value Acceptance and from 80% to program limits for Value Acceptance + Property Data. Since early 2020, these appraisal alternatives have saved mortgage borrowers over $2.5 billion. The changes aim to make home valuation more efficient while maintaining safety standards.
Fannie Mae has completed its seventh Credit Insurance Risk Transfer™ (CIRT™) transaction of 2024, transferring $338.6 million of mortgage credit risk to private insurers and reinsurers. The CIRT 2024-L4 transaction covers approximately 23,500 single-family mortgage loans with an unpaid principal balance of $7.9 billion. The deal introduces new structural enhancements, including faster coverage release for well-performing loan pools and premium obligations based on remaining coverage. Since inception, Fannie Mae has acquired $28.1 billion of insurance coverage on $935 billion of single-family loans through the CIRT program.
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