Federal Nat Stock Price, News & Analysis

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.

Fannie Mae priced its first Connecticut Avenue Securities (CAS) REMIC transaction for 2021, totaling $1.2 billion. The offering, CAS Series 2021-R01, attracted strong demand from investors. It includes about 246,836 single-family mortgage loans with an outstanding balance of $72 billion. Fannie Mae plans to return to the market next month with CAS 2021-R02. This deal adds to Fannie Mae's 42 CAS transactions, which collectively represent $48 billion issued notes and over $1.5 trillion in credit risk transferred to private investors.

Fannie Mae's October 2021 commentary reveals ongoing global supply constraints impacting economic output and inflation concerns. The full-year 2021 GDP growth projection has been revised down from 5.4% to 4.9%. Annual inflation is projected to rise to 5.7%, influenced by high energy prices. The ESR Group anticipates the Federal Reserve to begin tapering asset purchases by year-end and hints at a potential rate hike in Q4 2022. Mortgage rates are expected to average 3.3% in 2022, while home price growth forecasts have been adjusted upwards, reflecting tight inventory and demand.

Fannie Mae (OTCQB: FNMA) has initiated its twenty-third sale of reperforming loans, comprising approximately 18,800 loans with an unpaid principal balance of $2.9 billion. This effort aims to reduce its retained mortgage portfolio. The sale is being conducted in collaboration with Citigroup Global Markets, and bids are due by November 2, 2021. Buyers must adhere to loss mitigation options for borrowers who re-default within five years post-sale, ensuring compliance with ongoing forbearance and modification efforts.

The Fannie Mae Home Purchase Sentiment Index (HPSI) fell by 1.2 points to 74.5 in September, reflecting consumers' negative perceptions about buying homes, with 66% stating it's a bad time to buy. Year-over-year, the index is down 6.5 points. While the sentiment for selling remains favorable, concerns persist about high home prices. Expectations for home price increases have softened, with only 37% anticipating a rise in the next year, down from 40%. Meanwhile, mortgage rate expectations have also shifted, with a slight increase in respondents who expect a decrease in rates.