FANNIE MAE - FNMA STOCK NEWS

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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.

02/23/2024 08:30 AM

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Housing Activity Expected to Pick Up in 2024 as Rates Move Lower

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Fannie Mae's Economic and Strategic Research Group forecasts modest growth in existing home sales and new single-family housing starts in 2024 due to lower mortgage rates and improving homebuyer sentiment. The group expects mortgage rates to decrease slightly by the end of 2024 and 2025, while single-family starts are projected to increase despite a recent pullback. The forecast also includes an upgraded macroeconomic growth outlook for 2024 based on strong Q4 2023 GDP report and positive trends in population growth and immigration. However, concerns about softer consumer spending, slowing government spending growth, and cooling labor market persist.

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02/22/2024 04:35 PM

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Fannie Mae Appoints Peter Akwaboah as Chief Operating Officer

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Fannie Mae appoints Peter Akwaboah as Executive Vice President and COO, bringing nearly three decades of experience from the financial services industry. Akwaboah will oversee various functions and report to CEO Priscilla Almodovar, enhancing technology and operations capabilities.

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02/15/2024 07:28 AM

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Fannie Mae Reports Net Income of $17.4 billion for 2023 and $3.9 Billion for Fourth Quarter 2023

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Fannie Mae (FNMA) released its fourth-quarter and full-year 2023 financial results, along with filing its 2023 Form 10-K. The documents are available on their website. A conference call is scheduled to discuss the results.

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02/13/2024 10:00 AM

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Fannie Mae Announces the Results of its Thirtieth Reperforming Loan Sale Transaction

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Fannie Mae (FNMA) announces the results of its thirtieth reperforming loan sale, selling 2,722 loans totaling $499.6 million to Pacific Investment Management Company LLC. The transaction is expected to close by March 26, 2024, with specific loan pool details provided.

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02/12/2024 10:15 AM

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Fannie Mae Recognizes 32 High-Performing Mortgage Servicers Across Three Key Performance Areas

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Fannie Mae's 2023 STAR Program recognizes 32 mortgage servicers for excellence in servicing, solution delivery, and timeline management. The program aims to improve industry standards and operational efficiency, highlighting top performers in the mortgage servicing sector.

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02/09/2024 10:30 AM

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Fannie Mae Priced $518.3 Million Multifamily DUS REMIC (FNA 2024-M2) Under Its GeMS Program

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Fannie Mae priced a $518.3 million Multifamily DUS REMIC under its GeMS program, FNA 2024-M2, on Jan 31, 2024. This marks their first issuance of 2024, showcasing swift execution amidst market volatility. All classes are guaranteed by Fannie Mae, with attractive pricing and investor participation.

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02/08/2024 01:00 PM

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Fannie Mae Announces Scheduled Release of Fourth Quarter and Full-Year 2023 Financial Results

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Fannie Mae (FNMA) is set to release its fourth quarter and full-year 2023 financial results on February 15, 2024, followed by a conference call to discuss the results. The company's earnings news release, annual report, and supplemental information will be available on their website, and a transcript of the call will be published afterward.

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02/08/2024 10:00 AM

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Fannie Mae Announces Sale of Non-Performing Loans

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Fannie Mae announces the sale of non-performing loans, including the twenty-third Community Impact Pool, aimed at reducing the size of its retained mortgage portfolio. The large pool includes 1,689 loans totaling $247.3 million in UPB, and the CIP includes 38 loans totaling $10.5 million in UPB, geographically located in the New York/New Jersey area. The sale is being marketed in collaboration with BofA Securities, Inc. and First Financial Network, Inc. Buyers are required to offer sustainable loss mitigation options for borrowers, honor any approved or in-process loss mitigation efforts, and offer a waterfall of loss mitigation options before initiating foreclosure.

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02/07/2024 08:30 AM

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Mortgage Rate Optimism Hits Survey High

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Fannie Mae's Home Purchase Sentiment Index (HPSI) increased 3.5 points in January to 70.7, the highest level since March 2022, driven by increased consumer confidence in job security and expectations of decreasing mortgage rates. Consumer sentiment toward housing is at its highest level in nearly two years.

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01/30/2024 04:05 PM

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Fannie Mae Releases December 2023 Monthly Summary

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Fannie Mae (FNMA) has announced its financial results for the fourth quarter of 2023, reporting a net income of $3.4 billion, a $1.3 billion increase from the previous quarter. The company's net worth also increased by $2.4 billion, and it paid $2.9 billion in dividends to the U.S. Department of the Treasury. However, Fannie Mae also reported a $2.5 billion loss in fair value losses on derivatives, impacting its comprehensive income.

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FAQ

What is the current stock price of FANNIE MAE (FNMA)?

The current stock price of FANNIE MAE (FNMA) is $2.49 as of December 27, 2024.

What is the market cap of FANNIE MAE (FNMA)?

The market cap of FANNIE MAE (FNMA) is approximately 2.9B.

What is Fannie Mae’s primary role?

Fannie Mae provides mortgage financing to lenders, enabling affordable mortgage options and rental housing across the U.S.

What recent projects has Fannie Mae undertaken?

Fannie Mae recently announced the sale of non-performing and reperforming loans, and launched Community Impact Pools to benefit non-profits and smaller investors.

How does Fannie Mae support homeownership?

Fannie Mae enables the 30-year fixed-rate mortgage, offering stable and predictable payments, and provides tools and resources to help homebuyers, homeowners, and renters.

What is the Home Price Index (FNM-HPI) by Fannie Mae?

The FNM-HPI measures quarterly price changes for single-family homes in the U.S. As of Q1 2024, it reported a 7.4% annual increase.

How does Fannie Mae engage with stakeholders?

Fannie Mae maintains transparency through regular financial updates, economic forecasts, and informative conference calls.

What are Fannie Mae's Community Impact Pools?

Community Impact Pools are smaller loan pools aimed at non-profits, minority- and women-owned businesses, and smaller investors to foster community development.

What innovations has Fannie Mae introduced?

Fannie Mae drives responsible innovation to make homebuying and renting easier, fairer, and more accessible, including tools for homeowners and partnerships with lenders.

How is Fannie Mae impacting the housing market?

Fannie Mae plays a key role in providing financing, ensuring the availability of long-term fixed-rate mortgages, and supporting market stability through loan sales and economic research.

What financial condition is Fannie Mae in?

As of Q1 2024, Fannie Mae reported strong financials with ongoing efforts to manage mortgage portfolios and engage in strategic financial operations.

Where can I find more information about Fannie Mae?

More information is available on Fannie Mae's website and social media channels, including financial reports, news updates, and economic research insights.