Federal Nat Stock Price, News & Analysis

On September 15, 2020, Fannie Mae (FNMA) successfully priced its eighth Multifamily DUS REMIC of the year, totaling $930.3 million. This offering, known as FNA 2020-M42, is backed by DUS 10/9.5 collateral and has gained substantial demand in a competitive market. The offering includes multiple classes, with the largest being A2 at $619.3 million and a coupon of 1.27%. All classes are guaranteed for timely interest and principal payments, indicating strong backing from Fannie Mae.

Fannie Mae (OTCQB: FNMA) is offering mortgage assistance and disaster relief for homeowners affected by Hurricane Sally and West Coast Wildfires. Key options include:

• Mortgage servicers can suspend or reduce payments for up to 90 days without direct contact.
• Homeowners may suspend payments for up to 12 months without incurring late fees.
• The Disaster Response Network provides personalized recovery plans and financial relief guidance.

Homeowners are encouraged to contact their mortgage servicers for available assistance.

On September 15, 2020, Fannie Mae's Economic and Strategic Research (ESR) Group upgraded its 2020 GDP contraction forecast to -2.6%, an improvement from -3.1%. This revision is driven by resilient consumer spending and a projected 30.4% growth for Q3 2020. However, Q4 growth expectations dropped to 6.2% due to reduced COVID-19 stimulus. The housing market is thriving, with total mortgage originations expected at $3.87 trillion, a historic high. Despite these positives, there are risks from potential COVID-19 spikes and economic slowdown.

Fannie Mae (FNMA) has initiated the marketing of its seventeenth sale of reperforming loans, comprising about 19,800 loans with an unpaid principal balance of $2.8 billion. The loans, which may include some up to 90 days delinquent, are available for purchase by qualified bidders, with bids due on October 6, 2020. The buyers must implement loss mitigation options to assist borrowers who might re-default within five years and report on the outcomes of these measures. The sale is coordinated with Citigroup Global Markets, Inc.

Fannie Mae's Q3 2020 Mortgage Lender Sentiment Survey reveals a positive outlook for mortgage lenders, with 48% expecting profit margin increases. Strong consumer demand persists across all loan types, paralleling last year's figures. Purchase mortgage demand has risen significantly, while refinance demand remains stable. Tightening credit standards are noted but expected to hold steady. The average mortgage spread is 229 basis points, surpassing the long-term average. Despite optimism, lenders caution against potential long-term risks due to economic uncertainties caused by COVID-19.

Fannie Mae's Home Purchase Sentiment Index (HPSI) rose by 3.3 points to 77.5 in August 2020, showing a recovery after a slight dip in July. This increase was attributed to near-record low mortgage rates, improving consumers' outlook on homebuying and selling. However, the HPSI is down 16.3 points year-over-year. Key components include a rise in positivity about buying (59%) and selling (48%), but a decrease in expectations for home price increases (33%). Job security concerns showed slight improvement, with 78% feeling secure about their employment.

Fannie Mae (OTCQB: FNMA) has released its July 2020 Monthly Summary, detailing significant metrics on its mortgage portfolio. The report highlights activities related to gross mortgage holdings, mortgage-backed securities, and interest rate risk measures. It also provides updates on serious delinquency rates and loan modifications. This summary reflects Fannie Mae's ongoing efforts to support affordable housing and streamline the home buying process for Americans.

Fannie Mae (OTCQB: FNMA) announced the appointment of Jeffery Hayward as Executive Vice President and Chief Administrative Officer and Michele Evans as Executive Vice President and Head of Multifamily, effective immediately. Hayward will oversee teams focused on affordable housing, ESG, and diversity initiatives, while Evans, previously Chief Operating Officer, is tasked with leading the Multifamily sector amidst growing challenges in affordable rental housing.

These roles reflect Fannie Mae's commitment to enhancing housing opportunities and addressing urgent community needs.

Fannie Mae has announced an extension of the temporary moratorium on foreclosures and evictions related to single-family mortgages until December 31, 2020. This action supports households affected by COVID-19 and was previously set to expire on August 31, 2020. The moratorium applies to properties owned by Fannie Mae and provides options for homeowners facing financial hardship, including forbearance plans to postpone mortgage payments for up to 12 months.