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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.
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On November 16, 2021, Fannie Mae priced its Connecticut Avenue Securities (CAS) Series 2021-R02, a $984 million offering representing its second issuance of the year. The deal attracted significant investor demand and is based on a reference pool of approximately 125,000 mortgage loans worth about $35 billion. The securities aim to transfer credit risk and enhance financial transparency. Fannie Mae will retain portions of the 2M and 2B tranches to align interests with investors. With this transaction, Fannie Mae has issued over $49 billion in CAS notes since inception.
Fannie Mae (OTCQB: FNMA) has initiated cash tender offers for Connecticut Avenue Securities® (CAS) Debt Notes, set to expire on November 19, 2021. The total amount for the notes is approximately $3.22 billion, with specific offers ranging per note from $1,017.50 to $1,058.50. BofA Securities is the lead dealer manager, while Barclays serves as a dealer manager. Holders must tender their notes by the expiration to receive the tender offer consideration, with expected settlement on November 23, 2021. Forward-looking statements regarding the offers are included in the release.
Fannie Mae (OTCQB: FNMA) has released its 2022 Benchmark Securities Issuance Calendar, providing investors with key dates for the issuance of Benchmark Bills and Notes. Auctions for Benchmark Bills will occur weekly, typically on Wednesdays, with details announced on the same day. Monthly announcements for Benchmark Notes will also be made, indicating either the maturity date or the absence of an offering. The organization may choose to forgo scheduled issuances and will notify the market if this occurs.
Fannie Mae (OTCQB: FNMA) reported results from its 23rd reperforming loan sale, involving approximately 18,500 loans totaling $2.9 billion in unpaid principal balance. The sale, announced on October 7, 2021, will close on December 17, 2021. Winning bidders included PIMCO, JP Morgan, Goldman Sachs, and Credit Suisse. The pools featured loans with varying rates, such as 3.41% and 4.74%. The company emphasizes loss mitigation options for borrowers who may re-default, including loan modifications and forbearance.
Fannie Mae (OTCQB: FNMA) announced its first Credit Insurance Risk Transfer™ (CIRT™) transaction for 2021, covering $31.7 billion in unpaid principal balance (UPB) of fixed-rate loans. This deal, effective September 1, 2021, transferred nearly $1 billion of mortgage credit risk. Fannie Mae retains risk for the first 60 basis points of loss, with coverage up to $998 million from insurers and reinsurers. To date, the CIRT program has acquired $13.9 billion of insurance on $506 billion of loans. As of September 30, 2021, $616 billion in loans were referenced for credit risk transfer.
Fannie Mae (OTCQB: FNMA) announced that board members Renee L. Glover, Karin J. Kimbrough, and Christopher Brummer have been recognized on Savoy magazine's 2021 list of Most Influential Black Corporate Directors. Glover's inclusion marks her second recognition on this list. Chairwoman Sheila C. Bair praised their contributions to Fannie Mae's mission, which focuses on providing liquidity, stability, and affordability in U.S. housing finance. CEO Hugh R. Frater acknowledged their expertise, highlighting their role in fostering a safer housing finance system.
Fannie Mae (OTCQB: FNMA) has released its September 2021 Monthly Summary, detailing key metrics including its gross mortgage portfolio, mortgage-backed securities, and interest rate risk measures. The report also outlines serious delinquency rates and loan modifications, providing a comprehensive view of the organization's performance and activities year-to-date. This summary underscores Fannie Mae's commitment to making affordable housing accessible and enhancing the home-buying experience for Americans.
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.
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