Welcome to our dedicated page for FANNIE MAE news (Ticker: FNMA), a resource for investors and traders seeking the latest updates and insights on FANNIE MAE stock.
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 (OTCQB: FNMA) is reminding homeowners, renters, and mortgage servicers of disaster relief options available for those affected by Hurricane Helene. Homeowners facing hardship due to the hurricane are encouraged to contact their mortgage servicers to discuss relief options. Fannie Mae offers a disaster recovery counseling hotline at 855-HERE2HELP (855-437-3243).
Under Fannie Mae's guidelines, homeowners impacted by disasters may be eligible for:
- Mortgage payment reduction or suspension for up to 12 months through forbearance plans
- Suspension of late fees, foreclosures, and other legal proceedings
- 90-day forbearance plans offered by servicers if homeowner contact hasn't been established
- Post-forbearance options like Disaster Payment Deferral and Fannie Mae Flex Modification
Homeowners on COVID-19-related forbearance plans who are subsequently impacted by a disaster may still be eligible for assistance.
Fannie Mae (OTCQB: FNMA) has released its August 2024 Monthly Summary, providing key insights into the company's financial activities. The report encompasses important data on Fannie Mae's gross mortgage portfolio, mortgage-backed securities, and other guarantees. Additionally, it includes information on interest rate risk measures and serious delinquency rates. This comprehensive summary offers a detailed overview of both monthly and year-to-date activities, serving as an essential resource for investors and analysts tracking Fannie Mae's performance in the mortgage finance sector.
Fannie Mae's Economic and Strategic Research (ESR) Group forecasts existing home sales to hit a nearly 30-year low in 2024, despite lower mortgage rates and improved supply in some regions. The slowest pace since 1995 is expected due to home-purchase demand at current affordability levels. Regional variations in housing supply are creating divergent affordability conditions, with significant inventory increases in Sun Belt and Mountain West regions. The ESR Group predicts that mortgage rates will average 5.7% by the end of 2025.
Economic growth outlook remains mostly unchanged, with the economy likely shifting into a slower growth path. The Federal Reserve is expected to move towards a more neutral monetary policy stance as inflation approaches the 2% target. Real GDP growth is anticipated to remain subdued before returning to the long-term trend by late 2025.
Fannie Mae (OTCQB: FNMA) has priced its sixth and final Connecticut Avenue Securities® (CAS) REMIC® transaction of 2024, a $708 million note offering. This brings the total CAS issuance for the year to approximately $4.3 billion. The CAS Series 2024-R06 reference pool includes about 50,000 single-family mortgage loans with an outstanding unpaid principal balance of $16.6 billion.
The reference pool consists of fixed-rate, 30-year term mortgages with loan-to-value ratios of 60.01% to 80.00%, acquired between October and December 2023. Fannie Mae will retain portions of various tranches and the full first-loss tranches. The offering includes multiple classes with different pricing levels and expected ratings.
This transaction marks Fannie Mae's 67th CAS deal, bringing its total issuance to nearly $69 billion in notes, transferring credit risk on approximately $2.3 trillion in single-family mortgage loans.
Fannie Mae (OTCQB: FNMA) has announced the results of its thirty-second reperforming loan sale transaction. The deal, announced on August 13, 2024, involved the sale of 3,092 loans totaling $607,166,012 in unpaid principal balance (UPB). The winning bidders were Goldman Sachs Mortgage Company for Pool 1 and RCAF Loan Acquisition, LP for Pool 2. The transaction is expected to close by October 25, 2024.
Pool 1 consists of 2,254 loans with an aggregate UPB of $461,758,162, while Pool 2 includes 838 loans with an aggregate UPB of $145,407,850. The cover bids were 87.25% of UPB for Pool 1 and 87.00% of UPB for Pool 2. The sale requires buyers to offer loss mitigation options to borrowers who may re-default within five years and honor any approved or in-process loss mitigation efforts.
Fannie Mae (OTCQB: FNMA) has announced its latest sale of non-performing loans, including its 25th Community Impact Pool (CIP). The sale comprises a large pool of approximately 1,766 deeply delinquent loans totaling $296.7 million in unpaid principal balance (UPB), and a CIP of about 29 loans totaling $7.2 million in UPB, focused on the New York area. This initiative is part of Fannie Mae's ongoing effort to reduce its retained mortgage portfolio size.
The sale, marketed in collaboration with BofA Securities, Inc. and First Financial Network, Inc., requires buyers to offer sustainable loss mitigation options to borrowers. Bids are due on October 3, 2024, for the large pool and October 17, 2024, for the CIP. The terms include honoring existing loss mitigation efforts and offering a waterfall of options before initiating foreclosure.
The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) increased 0.6 points in August to 72.1, showing a significant rise in consumer optimism about future mortgage rates. A survey-high 39% of consumers expect mortgage rates to decline in the next 12 months, up from 29% in July. Despite this improved affordability outlook, only 17% of consumers believe it's a good time to buy a home.
The survey revealed interesting regional variations in housing sentiment, particularly between the South and Northeast, likely reflecting differences in housing supply and construction activity. While 65% of respondents overall believe it's a good time to sell a home, only 56% in the South agreed, compared to 80% in the Northeast.
The HPSI is up 5.2 points year over year, with notable changes in mortgage rate expectations and home price predictions. However, concerns about housing affordability and supply persist among consumers.
The Q3 2024 Fannie Mae Home Price Expectations Survey (HPES) reveals expert predictions for home price growth deceleration in the coming years. Following a 6.0% growth in 2023, panelists forecast 4.7% growth in 2024 and 3.1% in 2025. The survey also explored potential policy reforms to boost housing supply, with experts suggesting that hastening construction permitting processes could have the most significant positive impact. However, 63% of panelists are not confident that effective initiatives will be widely enacted within five years. The panel estimates a national housing shortfall of 2.8 million homes, highlighting the persistent issue of inadequate supply despite strong price appreciation.
Fannie Mae (OTCQB: FNMA) has released its July 2024 Monthly Summary, providing key insights into the company's financial activities. The report includes detailed information on Fannie Mae's gross mortgage portfolio, mortgage-backed securities, and other guarantees. Additionally, it covers important metrics such as interest rate risk measures and serious delinquency rates. This comprehensive summary offers a snapshot of Fannie Mae's performance for both the month of July and the year-to-date, serving as a valuable resource for investors and analysts tracking the mortgage finance giant's operations.
Fannie Mae (FNMA) has announced new tenant protections for multifamily properties with GSE-backed mortgages, effective February 28, 2025. The Enterprise Multifamily Lease Standards Policy requires borrowers to include three minimum standards in tenant leases:
- 30-day notice for rent increases
- 30-day notice for lease expiration
- 5-day grace period for late rent payments
Fannie Mae and Freddie Mac have published FAQs and a policy grid to aid implementation. In 2023, Fannie Mae financed about 482,000 multifamily rental units, mostly affordable for households earning up to 120% of area median income. The policy aims to support housing stability and aligns with Fannie Mae's mission to expand access to affordable and sustainable housing.
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