Federal National Mortgage Association - FNMA STOCK NEWS

Fannie Mae (FNMA) Announces 2024 CAS Issuance Calendar, Expects $4 Billion Volume

Fannie Mae (FNMA) Survey Panel Expects Annual National Home Price Growth of 2.4% in 2024 and 2.7% in 2025

Fannie Mae (FNMA) Home Purchase Sentiment Index® (HPSI) decreased 0.6 points in November, with only 14% of consumers believing it's a good time to buy a home, a new survey low. The HPSI is up 7.0 points compared to the same time last year, reflecting persistent consumer pessimism regarding the state of the housing market.

Fannie Mae (FNMA) Receives 100 on 2023-2024 Corporate Equality Index for Ninth Consecutive Year

Fannie Mae (OTCQB: FNMA) announces record-breaking third-quarter profits, with a 15% increase in net income compared to the same period last year.

Fannie Mae (FNMA) predicts a mild recession in 2024 but a return to growth in 2025. Existing home sales are expected to decline further in the near term but bottom out in early 2024. Mortgage rates are forecasted to average 6.8 percent by the fourth quarter of 2024, leading to a modest increase in home sales but constrained by the 'lock-in effect' and low supply of homes for sale. New home sales and starts are expected to remain resilient in 2024.

Fannie Mae (FNMA) announces the winning bidder for its twenty-second Community Impact Pool (CIP) of non-performing loans, totaling $18.4 million in unpaid principal balance. The winning bidder, 510 Residential Loan Acquisition V LLC (400 Capital), will close the transaction on January 22, 2024. The pool includes 61 loans with an average size of $301,717 and a weighted average note rate of 5.75%. The cover bid for the CIP was 82.12% of UPB (30.89% of BPO). All purchasers must honor loss mitigation efforts and offer delinquent borrowers a waterfall of options before initiating foreclosure.

Fannie Mae (OTCQB: FNMA) executed its final Credit Insurance Risk Transfer™ (CIRT™) transaction of 2023, transferring $270.7 million of mortgage credit risk to private insurers and reinsurers. Year to date, Fannie Mae acquired approximately $3.66 billion of insurance coverage on $121 billion of single-family loans from nine CIRT deals issued in 2023. The covered loan pool for CIRT 2023-9 consists of approximately 34,000 single-family mortgage loans with an outstanding unpaid principal balance of approximately $11.5 billion. Fannie Mae will retain risk for the first 165 basis points of loss on the $11.5 billion covered loan pool, with 21 reinsurers covering the next 235 basis points of loss on the pool, up to a maximum coverage of $270.7 million. The coverage for this deal is provided based upon actual losses for a term of 12.5 years, with the potential for reduction based on paydown and delinquency. Fannie Mae has acquired approximately $25.9 billion of insurance coverage on $870.2 billion of single-family loans through the CIRT program since its inception. The engagement from reinsurer partners has been instrumental, and Fannie Mae provides robust disclosure data and access to resources through its credit risk transfer webpages.

Fannie Mae (OTCQB: FNMA) returns to the market with its third Multifamily Connecticut Avenue Securities® (MCAS™) transaction, MCAS Series 2023-01, a $595 million note offering. The MCAS program shares credit risk on Fannie Mae's multifamily conventional guaranty book of business, complementing its Delegated Underwriting and Servicing (DUS®) and Multifamily Credit Insurance Risk Transfer (MCIRT™) programs. The reference pool for MCAS Series 2023-01 consists of 432 multifamily mortgage loans with an outstanding unpaid principal balance of approximately $24 billion. Fannie Mae will retain at least five percent of the underlying credit risk, corresponding to a vertical slice of each of the reference tranches, and will retain the full B-2H first-loss tranche. BofA Securities, Inc. is the lead structuring manager and bookrunner, and Nomura Securities International Inc. is the non-structuring lead manager.