FANNIE MAE - FNMA STOCK NEWS

Fannie Mae (OTCQB: FNMA) announced the results of its seventeenth reperforming loan sale on October 13, 2020. This transaction involved approximately 19,670 loans with a total unpaid principal balance of $2.78 billion, divided into five pools. Winning bidders include Athene Annuity, PIMCO, and Goldman Sachs. Each pool has unique characteristics such as loan sizes and weighted average note rates, with the transaction expected to close on November 20, 2020. Bidders can register for updates and information on specific pools available for purchase.

Fannie Mae (FNMA) is issuing a reminder about mortgage assistance for those affected by Hurricane Delta. Homeowners can contact their mortgage servicer for help, which may include payment suspension for up to 90 days. They can also potentially reduce or suspend payments for up to 12 months without incurring late fees. Fannie Mae's Disaster Response Network offers personalized support, including help with financial relief from FEMA. Homeowners on COVID-19 forbearance plans are advised to reach out to their servicer for further assistance.

Fannie Mae (OTCQB: FNMA) has released its August 2020 Monthly Summary, detailing key metrics regarding its gross mortgage portfolio, mortgage-backed securities, and interest rate risk measures. The report also includes updates on serious delinquency rates and loan modifications. This summary reflects Fannie Mae's ongoing efforts to facilitate affordable housing and improve the housing finance system in the United States.

The Federal Housing Finance Agency (FHFA), Fannie Mae (OTCQB: FNMA), and Freddie Mac have expanded the Mortgage Translations clearinghouse to include Vietnamese, Korean, and Tagalog resources. This initiative aims to assist consumers with limited English proficiency in navigating the mortgage process. The clearinghouse now offers documents in multiple languages and a listing of resources for oral interpretation services. These enhancements, designed to support sustainable homeownership, are part of a multi-year collaboration to improve access to mortgage information for diverse communities.

On September 15, 2020, Fannie Mae (FNMA) successfully priced its eighth Multifamily DUS REMIC of the year, totaling $930.3 million. This offering, known as FNA 2020-M42, is backed by DUS 10/9.5 collateral and has gained substantial demand in a competitive market. The offering includes multiple classes, with the largest being A2 at $619.3 million and a coupon of 1.27%. All classes are guaranteed for timely interest and principal payments, indicating strong backing from Fannie Mae.

Fannie Mae (OTCQB: FNMA) is offering mortgage assistance and disaster relief for homeowners affected by Hurricane Sally and West Coast Wildfires. Key options include:

• Mortgage servicers can suspend or reduce payments for up to 90 days without direct contact.
• Homeowners may suspend payments for up to 12 months without incurring late fees.
• The Disaster Response Network provides personalized recovery plans and financial relief guidance.

Homeowners are encouraged to contact their mortgage servicers for available assistance.

On September 15, 2020, Fannie Mae's Economic and Strategic Research (ESR) Group upgraded its 2020 GDP contraction forecast to -2.6%, an improvement from -3.1%. This revision is driven by resilient consumer spending and a projected 30.4% growth for Q3 2020. However, Q4 growth expectations dropped to 6.2% due to reduced COVID-19 stimulus. The housing market is thriving, with total mortgage originations expected at $3.87 trillion, a historic high. Despite these positives, there are risks from potential COVID-19 spikes and economic slowdown.

Fannie Mae (FNMA) has initiated the marketing of its seventeenth sale of reperforming loans, comprising about 19,800 loans with an unpaid principal balance of $2.8 billion. The loans, which may include some up to 90 days delinquent, are available for purchase by qualified bidders, with bids due on October 6, 2020. The buyers must implement loss mitigation options to assist borrowers who might re-default within five years and report on the outcomes of these measures. The sale is coordinated with Citigroup Global Markets, Inc.

Fannie Mae's Q3 2020 Mortgage Lender Sentiment Survey reveals a positive outlook for mortgage lenders, with 48% expecting profit margin increases. Strong consumer demand persists across all loan types, paralleling last year's figures. Purchase mortgage demand has risen significantly, while refinance demand remains stable. Tightening credit standards are noted but expected to hold steady. The average mortgage spread is 229 basis points, surpassing the long-term average. Despite optimism, lenders caution against potential long-term risks due to economic uncertainties caused by COVID-19.