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) has announced it will report its first quarter 2022 financial results on May 3, 2022, before U.S. markets open. The company will host a conference call at 8:00 a.m. ET on the same day to discuss the results. Investors can access the news release, quarterly report on Form 10-Q, and other supplemental information via the company's financial results webpage.
Fannie Mae aims to enhance equitable access to homeownership and affordable rental housing across the U.S.
On April 19, 2022, Fannie Mae (OTCQB: FNMA) announced its fourth Credit Insurance Risk Transfer™ (CIRT™) transaction for 2022, transferring $844.8 million of mortgage credit risk to private insurers. This move aims to lower taxpayer risk and enhance private capital involvement in the mortgage sector. The covered loan pool includes 76,600 single-family mortgages totaling $23.1 billion. Fannie Mae retains risk for the first 45 basis points of loss, with insurers covering losses up to $844.8 million.
Fannie Mae's Economic Outlook predicts a slowdown in housing activity due to rising mortgage rates and tightening monetary policy. The 2022 GDP growth forecast has been reduced by 0.2% and 2.4% for 2023, suggesting a mild recession. Key factors include stronger mortgage credit quality and a less leveraged real estate system. Home sales and prices are expected to decline, with the 'lock-in' effect limiting mobility for homeowners and pushing first-time buyers out of the market.
Fannie Mae (OTCQB: FNMA) successfully priced a $736 million Multifamily DUS® REMIC, known as FNA 2022-M8, under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on April 11, 2022. This issuance is the fourth of 2022, showcasing a mix of traditional and floating-rate classes aimed at catering to smaller borrowers. The offering includes a notable 7-year SOFR-based floater with a 6% cap, expanding market participation. All classes are backed by Fannie Mae, ensuring timely interest and principal payments.
Fannie Mae has released the Fannie Mae Home Price Index (FNM-HPI), showing an unprecedented annual home price growth of 20.0% in Q1 2022, up from 19.1% in Q4 2021. Seasonally adjusted prices rose 4.8% quarterly. This acceleration is attributed to strong homebuying demand and limited inventory. Despite this growth, rising mortgage rates may cool demand and price growth as the year progresses. The index, available from Q1 1975, will be released quarterly.
On April 8, 2022, Fannie Mae announced leadership changes: Sheila C. Bair will resign as Board Chair effective May 1, with Michael J. Heid succeeding her. David C. Benson, currently President, will take on the role of Interim CEO, following the retirement of Hugh R. Frater. Bair highlighted the organization’s innovations in sustainable homeownership during her tenure. The Board intends to conduct a national search for a permanent CEO. Additionally, Antony Jenkins is resigning from the Board, citing time commitments.
Fannie Mae (OTCQB: FNMA) announced its twenty-fifth sale of reperforming loans, comprising approximately 7,600 loans with an unpaid principal balance of about $1.49 billion. The sale aims to reduce Fannie Mae's retained mortgage portfolio and is marketed in collaboration with Citigroup Global Markets. Bidding is open until May 3, 2022, with requirements for buyers to offer loss mitigation options to borrowers who may re-default. This initiative underscores Fannie Mae's commitment to responsible homeownership practices.
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Fannie Mae has launched an Expanded Housing Choice initiative aimed at increasing affordable housing accessibility for voucher holders in Texas and North Carolina. This initiative offers financing incentives to multifamily property owners who accept Housing Choice Vouchers from the U.S. Department of Housing and Urban Development. Announced on April 4, 2022, it seeks to make the rental market more inclusive and is supported by resources from Enterprise Community Partners. The initiative is part of Fannie Mae's ongoing mission to promote equitable housing solutions.
Fannie Mae (OTCQB: FNMA) has released its February 2022 Monthly Summary, detailing its activities regarding gross mortgage portfolio, mortgage-backed securities, and guarantees. The report provides insights into interest rate risk measures and serious delinquency rates. Fannie Mae continues to focus on enhancing access to homeownership and affordable housing across the U.S.