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) has initiated cash tender offers for Connecticut Avenue Securities® (CAS) Debt Notes, set to expire on November 19, 2021. The total amount for the notes is approximately $3.22 billion, with specific offers ranging per note from $1,017.50 to $1,058.50. BofA Securities is the lead dealer manager, while Barclays serves as a dealer manager. Holders must tender their notes by the expiration to receive the tender offer consideration, with expected settlement on November 23, 2021. Forward-looking statements regarding the offers are included in the release.
Fannie Mae (OTCQB: FNMA) has released its 2022 Benchmark Securities Issuance Calendar, providing investors with key dates for the issuance of Benchmark Bills and Notes. Auctions for Benchmark Bills will occur weekly, typically on Wednesdays, with details announced on the same day. Monthly announcements for Benchmark Notes will also be made, indicating either the maturity date or the absence of an offering. The organization may choose to forgo scheduled issuances and will notify the market if this occurs.
Fannie Mae (OTCQB: FNMA) reported results from its 23rd reperforming loan sale, involving approximately 18,500 loans totaling $2.9 billion in unpaid principal balance. The sale, announced on October 7, 2021, will close on December 17, 2021. Winning bidders included PIMCO, JP Morgan, Goldman Sachs, and Credit Suisse. The pools featured loans with varying rates, such as 3.41% and 4.74%. The company emphasizes loss mitigation options for borrowers who may re-default, including loan modifications and forbearance.
Fannie Mae (OTCQB: FNMA) announced its first Credit Insurance Risk Transfer™ (CIRT™) transaction for 2021, covering $31.7 billion in unpaid principal balance (UPB) of fixed-rate loans. This deal, effective September 1, 2021, transferred nearly $1 billion of mortgage credit risk. Fannie Mae retains risk for the first 60 basis points of loss, with coverage up to $998 million from insurers and reinsurers. To date, the CIRT program has acquired $13.9 billion of insurance on $506 billion of loans. As of September 30, 2021, $616 billion in loans were referenced for credit risk transfer.
Fannie Mae (OTCQB: FNMA) announced that board members Renee L. Glover, Karin J. Kimbrough, and Christopher Brummer have been recognized on Savoy magazine's 2021 list of Most Influential Black Corporate Directors. Glover's inclusion marks her second recognition on this list. Chairwoman Sheila C. Bair praised their contributions to Fannie Mae's mission, which focuses on providing liquidity, stability, and affordability in U.S. housing finance. CEO Hugh R. Frater acknowledged their expertise, highlighting their role in fostering a safer housing finance system.
Fannie Mae (OTCQB: FNMA) has released its September 2021 Monthly Summary, detailing key metrics including its gross mortgage portfolio, mortgage-backed securities, and interest rate risk measures. The report also outlines serious delinquency rates and loan modifications, providing a comprehensive view of the organization's performance and activities year-to-date. This summary underscores Fannie Mae's commitment to making affordable housing accessible and enhancing the home-buying experience for Americans.
Fannie Mae (OTCQB: FNMA) announced its third quarter 2021 financial results, revealing a net income of $4.8 billion for the quarter ending September 30, 2021. The company filed its Form 10-Q with the SEC, providing insights on its financial performance. Alongside the announcement, Fannie Mae plans to host a conference call to discuss the results further. Key documents including the financial supplement and press release are accessible via Fannie Mae's website.
Fannie Mae (OTCQB: FNMA) will report its third quarter 2021 financial results on October 29, 2021, before the U.S. market opens. A conference call is scheduled for 8:00 a.m. ET the same day to discuss the results. Investors can access the earnings release, quarterly report, and supplemental information on Fannie Mae's financial results webpage. A transcript of the call will also be available. This announcement reflects Fannie Mae's commitment to transparency and timely financial reporting.
On October 19, 2021, Fannie Mae priced a $736 million Multifamily DUS® REMIC under its GeMS program, marking the eleventh issuance of 2021. The deal attracted positive investor response and included over $730 million in 10-year, call-protected collateral, with a weighted average Debt Service Coverage Ratio (DSCR) of 2.08, indicating strong underlying asset quality. All classes of the REMIC are guaranteed by Fannie Mae for timely interest and principal payments.
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