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 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 (OTCQB: FNMA) announced its twenty-eighth sale of reperforming loans, comprising around 10,400 loans with an unpaid principal balance of approximately $1.95 billion. This move is part of Fannie Mae's strategy to reduce its mortgage portfolio. Bids for the loans, marketed with Citigroup Global Markets, are due by November 1, 2022. Buyers are required to provide loss mitigation options for borrowers potentially re-defaulting within five years. Interested bidders can register for more information on Fannie Mae's website.
Fannie Mae (OTCQB: FNMA) has released its August 2022 Monthly Summary, detailing key metrics regarding its gross mortgage portfolio, mortgage-backed securities, and serious delinquency rates. The report highlights activities year-to-date, offering insights into the organization’s financial health and interest rate risk measures. Fannie Mae continues to focus on its mission to enhance access to homeownership and affordable rental housing across the U.S.
Fannie Mae (FNMA) is reminding homeowners and renters affected by Hurricane Ian, particularly in Florida and the southeastern U.S., about available mortgage assistance and disaster relief options. Homeowners can request support through their mortgage servicer and may qualify for a 90-day forbearance plan. They may also reduce or suspend payments for up to 12 months without incurring late fees. Additionally, Fannie Mae's Disaster Response Network offers personalized recovery plans, financial relief assistance, and ongoing guidance for up to 18 months, available in multiple languages.
Fannie Mae (FNMA) has launched the Multifamily Positive Rent Payment Reporting pilot program, effective September 27, 2022. This initiative enables eligible multifamily property owners to report rent payments to credit bureaus, helping renters build their credit history and improve credit scores. The program aims to promote equitable access to credit, especially for underrepresented groups with limited credit histories. Fannie Mae will cover associated costs for 12 months to encourage participation among borrowers.
Fannie Mae (OTCQB: FNMA) has completed its ninth Credit Insurance Risk Transfer™ (CIRT™) transaction for 2022, transferring $700 million of mortgage credit risk to private insurers. This initiative aims to reduce taxpayer risk while increasing private capital in the mortgage market. The covered pool includes approximately 69,000 loans with a total unpaid principal balance of $21 billion. Fannie Mae retains risk for the first 55 basis points of loss, with insurers covering further losses up to $700 million.
Fannie Mae (FNMA) reminds homeowners and renters affected by natural disasters, particularly Hurricane Fiona in Puerto Rico, of available mortgage assistance. Under its guidelines, homeowners can request assistance through their mortgage servicer, who may offer a forbearance plan for up to 90 days. For those impacted, mortgage payments can be reduced or suspended for up to 12 months without incurring late fees. Fannie Mae also provides support through its Disaster Response Network, offering personalized recovery plans and help navigating financial relief options.
Fannie Mae’s Economic and Strategic Research Group has revised its forecasts, predicting a moderate recession starting Q1 2023 due to high inflation and mortgage rates. Despite an anticipated 0.0% real GDP growth in 2022, the full-year 2023 growth forecast has been adjusted to -0.5%. Mortgage rates are expected to peak between 3.50-3.75% in early 2023, contributing to a projected decrease in single-family home sales to 5.71 million in 2022 and 4.98 million in 2023, reflecting declines of 17.2% and 12.8%, respectively. Multifamily construction remains strong but has also seen a forecast reduction.
Fannie Mae (OTCQB: FNMA) announced the results of its twenty-seventh reperforming loan sale, comprising approximately 6,060 loans totaling $986.4 million in unpaid principal balance (UPB). The transaction, which will close on October 26, 2022, features three loan pools awarded to distinct bidders: PIMCO, Credit Suisse, and Barclays. Notably, Pool 1 consists of 1,790 loans with a UPB of $337.8 million, while Pool 2 has 2,217 loans valued at $338.9 million, and Pool 3 includes 2,055 loans worth $309.7 million. The sale emphasizes loss mitigation options for borrowers.
Fannie Mae (OTCQB: FNMA) has priced a $604 million Multifamily DUS REMIC under its Guaranteed Multifamily Structures (GeMS™) program, marking the seventh issuance in 2022. The FNA 2022-M13 deal, priced on September 8, 2022, offers attractive features, including a 10-year call-protected, fixed-rate collateral. Dan Dresser, Senior VP, noted strong investor interest amidst a crowded market. All classes of this REMIC are guaranteed by Fannie Mae for timely interest and principal payments. The structure provides insights into the performance of multifamily loans across diverse U.S. regions.
Fannie Mae's Home Purchase Sentiment Index (HPSI) fell by 0.8 points in August to 62.0, marking six consecutive months of decline. The index is down 13.7 points year-over-year, reflecting heightened concerns over home affordability due to rising prices and mortgage rates. While 73% of respondents viewed it as a 'bad time to buy,' home-selling sentiment also waned. Expectations for home prices turned neutral, with an increasing number anticipating price declines. Additionally, the sentiment about mortgage rates showed a slight increase in those expecting them to drop.