Welcome to our dedicated page for Federal Nat news (Ticker: FNMA), a resource for investors and traders seeking the latest updates and insights on Federal Nat stock.
Fannie Mae reports news centered on its role as a federally chartered housing finance company and government-sponsored enterprise traded on OTCQB under FNMA. Recurring updates include quarterly and annual financial results, earnings presentations, financial supplements, and monthly summaries of gross mortgage portfolio activity, mortgage-backed securities and other guarantees, interest rate risk measures, and serious delinquency rates.
Company announcements also cover Selling Guide updates for credit score modernization, including VantageScore 4.0 and FICO Score 10T, as well as capital markets activity involving Connecticut Avenue Securities notes. Governance and housing finance policy developments may appear alongside disclosures tied to Fannie Mae’s conservatorship framework.
Fannie Mae announced the winner of its twenty-fourth non-performing loan sale, totaling $214.2 million in UPB. The winning bidder was VWH Capital Management, LP. The transaction is expected to close on June 25, 2024. The deal included 1,154 deeply delinquent loans with an average loan size of $185,646 and a weighted average note rate of 4.22%. Bids for Fannie Mae's Community Impact Pool are due on May 16, 2024.
Fannie Mae has expanded its Income Calculator tool to help mortgage professionals assess self-employed borrower income accurately and quickly. The web-based tool is free and available on Fannie Mae's website, allowing lenders to streamline underwriting processes and reduce loan defects. The new enhancement aims to serve the increasing number of self-employed mortgage applicants in the U.S. with a user-friendly interface for income calculation.
The Fannie Mae (FNMA) Home Purchase Sentiment Index (HPSI) remained unchanged in April at 71.9, signaling a plateau as consumers adjust to higher interest rates and home prices. The sentiment for selling a home increased to 67%, while the sentiment for buying a home decreased to 20%. Expectations for lower mortgage rates fell to 26%. Despite this, the full index is up 5.1 points year over year.
Fannie Mae reported a net income of $4.3 billion for the first quarter of 2024. The company filed its First Quarter 2024 Form 10-Q with the SEC, providing consolidated financial statements for the quarter ending on March 31, 2024. Documents are available on Fannie Mae's website, including the press release, Form 10-Q, and the Q1 2024 Financial Supplement. Fannie Mae has scheduled a conference call to discuss the results.
Fannie Mae released its annual update to the Equitable Housing Finance Plan, aiming to address housing disparities for historically underserved consumers. The 2024 Plan outlines 23 specific actions, including expanding pre-purchase counseling for first-time homebuyers and creating a standard definition for 'first-generation homebuyer'. The Plan focuses on reducing housing barriers, providing affordable solutions, and enhancing financial literacy to make the housing system fairer and more equitable.
Fannie Mae announced the results of its fixed-price cash tender offers for certain CAS Notes, with approximately $1,706 million in original principal amount tendered and not withdrawn. The Offers were closed on April 26, 2024. The settlement date for accepted purchases is expected on April 30, 2024. BofA Securities and Wells Fargo Securities were the lead dealer managers. Academy Securities, Inc. and Drexel Hamilton, were engaged as advisors for the transaction. Global Bondholder Services was the tender and information agent for the Offers.
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