Federal Nat Stock Price, News & Analysis

Fannie Mae (OTCQB: FNMA) has successfully priced its Connecticut Avenue Securities (CAS) Series 2023-R01, a $731 million note offering, marking its first CAS REMIC transaction of the year. The reference pool encompasses approximately 68,000 single-family mortgage loans with an unpaid principal balance of $22.6 billion, acquired between January and February 2022. Notably, Fannie Mae retains portions of the first-loss tranches, enhancing its credit risk management strategy. With this deal, Fannie Mae has issued over $59 billion in notes through 54 CAS deals overall.

The Fannie Mae Home Purchase Sentiment Index (HPSI) rose by 3.7 points in December 2022 to 61.0, yet remains significantly below pre-pandemic levels. Despite a slight upturn, year-over-year the index is down 13.2 points, highlighting ongoing affordability issues due to high mortgage rates and home prices. Only 21% of consumers believe it is a good time to buy a home, attributed to persisting economic concerns. As 2023 begins, affordability continues to challenge potential homebuyers, with expectations that existing homeowners will hesitate to sell until rates improve.

Fannie Mae (OTCQB: FNMA) has released its November 2022 Monthly Summary, detailing key metrics regarding its mortgage portfolio, mortgage-backed securities, and interest rate risks. The report includes updates on serious delinquency rates and a comprehensive overview of year-to-date activities. Fannie Mae aims to promote equitable access to homeownership and affordable housing across the U.S.

Fannie Mae's Economic and Strategic Research Group forecasts a mild recession starting in early 2023, despite a slight GDP growth of 0.4% for 2022. Home sales projections for 2022 and 2023 have been revised to 5.72 million and 4.57 million units, respectively, mainly influenced by mortgage rate fluctuations. The ESR Group anticipates a rebound of 14.7% in home sales in 2024 as economic growth resumes. The report emphasizes ongoing affordability challenges in housing, impacting mortgage origination activity.

Fannie Mae (OTCQB: FNMA) announced the results of its fixed-price cash tender offers for certain Connecticut Avenue Securities (CAS) Notes, which concluded on December 9, 2022. Approximately $3,834 million in original principal amount of Notes were validly tendered. The settlement date for these Notes is expected on December 13, 2022. Key figures include a total tender amount of $5.25 billion, with an average percentage of original principal amount tendered at 72.98%. BofA Securities and Wells Fargo Securities served as lead dealer managers for this transaction.

Fannie Mae's Home Purchase Sentiment Index (HPSI) rose 0.6 points to 57.3 in November, breaking a nine-month decline but remaining near its all-time low. The full index is down 17.4 points year-over-year. Key factors include rising mortgage rates, with 62% of respondents expecting further increases, negatively impacting affordability. Both homebuying and selling sentiments dropped significantly compared to last year. While perceptions of a good time to sell improved, concerns about job security rose, with those confident about their job lessening from 85% to 78%.

Fannie Mae (FNMA/OTCQB) announced its third quarter 2022 financial results, revealing a net income of $2.4 billion for the quarter ending September 30, 2022. The company filed its Form 10-Q with the SEC, which includes key financial statements. Fannie Mae aims to enhance access to homeownership and affordable rental housing for Americans. The comprehensive results are available on Fannie Mae's website. A conference call discussing these results took place on November 8, 2022, at 8:00 AM ET, allowing analysts and stakeholders to delve into the financial performance details.

Fannie Mae (FNMA) has added Basis Multifamily Finance I, LLC to its network of approved Multifamily Delegated Underwriting and Servicing (DUS) lenders as of November 7, 2022. Basis, a certified Minority- and Women-Owned Business, aims to enhance liquidity in the multifamily market and promote economic inclusion. Basis is now authorized to underwrite Fannie Mae Multifamily loans. The DUS model allows lenders to retain a portion of the risk, ensuring responsible lending. This partnership aims to improve access to affordable housing across the U.S.

Fannie Mae's Home Purchase Sentiment Index (HPSI) fell to 56.7 in October, marking an 18.8-point decline year-over-year and the lowest since the index's inception in 2011. Only 16% of consumers believe it's a good time to buy a home, the lowest in the survey's history. The index's components show increasing pessimism about buying and selling conditions, with a rise in those expecting home prices to decline. The overall trend suggests a cooling housing market, driven by high prices and unfavorable mortgage rates, leading to decreased consumer demand.