FANNIE MAE - FNMA STOCK NEWS

Fannie Mae (OTCQB: FNMA) has priced a $604 million Multifamily DUS REMIC under its Guaranteed Multifamily Structures (GeMS™) program, marking the seventh issuance in 2022. The FNA 2022-M13 deal, priced on September 8, 2022, offers attractive features, including a 10-year call-protected, fixed-rate collateral. Dan Dresser, Senior VP, noted strong investor interest amidst a crowded market. All classes of this REMIC are guaranteed by Fannie Mae for timely interest and principal payments. The structure provides insights into the performance of multifamily loans across diverse U.S. regions.

Fannie Mae's Home Purchase Sentiment Index (HPSI) fell by 0.8 points in August to 62.0, marking six consecutive months of decline. The index is down 13.7 points year-over-year, reflecting heightened concerns over home affordability due to rising prices and mortgage rates. While 73% of respondents viewed it as a 'bad time to buy,' home-selling sentiment also waned. Expectations for home prices turned neutral, with an increasing number anticipating price declines. Additionally, the sentiment about mortgage rates showed a slight increase in those expecting them to drop.

Fannie Mae's August 2022 Economic Outlook forecasts a challenging housing market, driven by rising mortgage rates and elevated inflation. The report predicts a 16.2% decline in total home sales for 2022, with mortgage origination expected to fall from $4.47 trillion in 2021 to $2.47 trillion in 2022 and $2.29 trillion in 2023. Despite a robust labor market, the outlook indicates a modest recession likely due to tighter monetary policies affecting investment and consumer spending.

Fannie Mae (OTCQB: FNMA) has commenced marketing its twenty-seventh sale of reperforming loans, encompassing around 6,130 loans with an unpaid principal balance of $997 million. This initiative is part of efforts to streamline its mortgage portfolio. Interested qualified bidders must submit their offers by September 8, 2022, in partnership with Citigroup Global Markets. The sale requires buyers to provide loss mitigation options for borrowers at risk of re-defaulting within five years. Fannie Mae continues to emphasize responsible homeownership access across the U.S.

Fannie Mae Appoints Cissy Yang as New Chief Audit Executive

On August 10, 2022, Fannie Mae announced the appointment of Cissy Yang as Senior Vice President and Chief Audit Executive, effective September 12, 2022. Yang, with over 25 years of experience in financial services audit, will lead the company's audit strategy and report to both the Board of Directors and the Interim CEO. She replaces Douglas Watt, who is retiring in November 2022. Yang previously held senior roles at Credit Suisse and is expected to enhance Fannie Mae's internal controls and governance.

Fannie Mae's Home Purchase Sentiment Index (HPSI) fell 2.0 points in July 2022 to 62.8, marking the lowest level since 2011 and down 13.0 points year-over-year. Only 17% of consumers view homebuying as favorable, while those considering it a bad time increased to 76%. The sentiment surrounding home selling also declined, from 76% in May to 67% in July. Expectations for home price growth weakened significantly, with those anticipating an increase dropping from 44% to 39%. All these factors indicate increasing consumer pessimism in the housing market due to rising mortgage rates.

Fannie Mae priced its CAS Series 2022-R08 offering at approximately $626 million, marking its eighth CAS REMIC transaction of the year. The reference pool includes around 68,000 single-family mortgage loans totaling $20.4 billion. These loans have loan-to-value ratios between 60.01% and 80.00%, and were acquired between September and November 2021. The offering continues Fannie Mae's initiative to share credit risk and enhances its commitment to transparency and robust disclosure data for investors.

On August 1, 2022, Fannie Mae (OTCQB: FNMA) announced the successful sale of approximately 5,460 reperforming loans with a total unpaid principal balance of $663.3 million to JP Morgan Mortgage Acquisition Corp. This transaction, set to close on August 26, 2022, aims to support loss mitigation efforts for borrowers at risk of re-defaulting. The loans feature an average size of $121,476 and a weighted average note rate of 4.49%. The sale reflects a weighted average bid in the low 90s as a percentage of UPB.

Fannie Mae (OTCQB: FNMA) has released its June 2022 Monthly Summary, highlighting key metrics in its operations. This report covers the company's gross mortgage portfolio, mortgage-backed securities, guarantees, interest rate risk measures, and serious delinquency rates. The publication aims to provide transparency about Fannie Mae's financial health and its activities impacting mortgage accessibility across America.