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.
The U.S. economy is projected to grow by 6.7% in 2021, a notable recovery from last year's 2.5% contraction. This increase is supported by strong consumer spending, improving COVID-19 conditions, and anticipated fiscal stimulus. However, 2022 growth has been downgraded to 2.8%, reflecting concerns over inflation and higher interest rates. Fannie Mae anticipates $4.1 trillion in mortgage originations for 2021, a rise from earlier estimates, while warning of potential inflation risks due to robust economic growth.
Fannie Mae reported a net income of $11.8 billion for 2020 and $4.6 billion for Q4 2020. The company filed its 2020 Form 10-K, detailing its consolidated financial statements ending December 31, 2020. The results indicate strong performance, allowing Fannie Mae to continue supporting affordable housing initiatives across the U.S. A conference call to discuss results was held on February 12, 2021. Additional financial documents from the quarter are available on Fannie Mae's website.
Fannie Mae priced a $1.07 billion Multifamily DUS REMIC under its Fannie Mae Guaranteed Multifamily Structures (GeMS) program on February 10, 2021. The issuance, FNA 2021-M4, represents the third GeMS issuance of the year. Dan Dresser noted that the offering provided a low premium investment opportunity with a diverse investor base. All classes are backed by Fannie Mae, ensuring timely payment of interest and principal. The total original face amount for the issuance is $1,066,336,728, with key collateral features highlighted.
Fannie Mae (OTCQB: FNMA) will report its fourth quarter and full-year 2020 financial results on February 12, 2021, before U.S. market opens. A conference call for media discussion is scheduled for 8:00 a.m. ET on the same day. The earnings news release, annual report on Form 10-K, and supplementary information will be available on the company's website. Participants can join via listen-only mode or via phone.
The Home Purchase Sentiment Index (HPSI) by Fannie Mae rose to 77.7 in January, marking a 3.7-point increase from December. This improvement reflects a notable rise in consumer perception regarding home-selling conditions, with a 16-point net increase. However, the index shows a year-over-year decline of 15.3 points. Key metrics remained relatively stable, with 52% deeming it a good time to buy and 57% for selling. Nonetheless, expectations on home prices and mortgage rates exhibited slight pessimism. Overall, lower-income and renter groups demonstrated increased optimism, suggesting possible recovery signs amid ongoing economic challenges.
Fannie Mae has priced a $536 million Green Multifamily DUS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program, marking its ninth issuance in 2020. The new deal offers a Green 15-year tranche alongside traditional 10-year offerings. Notably, the collateral includes the first PHIUS+ certified deal in the Green Bonds industry, aimed at achieving net-zero energy usage. Since the program's inception, Fannie Mae has issued $78.5 billion in Green MBS and $11 billion in Green GeMS.
Fannie Mae's latest economic outlook revises third quarter 2020 GDP growth to 31.6% but lowers fourth quarter expectations to 4.9%, reflecting a complex economic environment influenced by consumer spending and COVID-19 risks. Full-year economic output is projected to contract by 2.6%. However, the housing sector remains robust, with expected residential fixed investment growth at 58.0%, surpassing pre-COVID levels. Fannie Mae foresees significant growth in home sales and mortgage origination compared to 2019, despite an anticipated rise in unemployment by the end of 2021.
Fannie Mae (OTCQB: FNMA) has initiated the marketing of its eighteenth sale of reperforming loans, aimed at decreasing its mortgage portfolio size. This sale comprises approximately 6,360 loans, with an unpaid principal balance of $734.2 million. Qualified bidders can submit bids until November 9, 2020. The loans, previously delinquent but now performing, may still show at-risk statuses. Buyers are required to implement loss mitigation strategies for borrowers likely to re-default within five years.
Fannie Mae (OTCQB: FNMA) announced the results of its seventeenth reperforming loan sale on October 13, 2020. This transaction involved approximately 19,670 loans with a total unpaid principal balance of $2.78 billion, divided into five pools. Winning bidders include Athene Annuity, PIMCO, and Goldman Sachs. Each pool has unique characteristics such as loan sizes and weighted average note rates, with the transaction expected to close on November 20, 2020. Bidders can register for updates and information on specific pools available for purchase.
Fannie Mae (FNMA) is issuing a reminder about mortgage assistance for those affected by Hurricane Delta. Homeowners can contact their mortgage servicer for help, which may include payment suspension for up to 90 days. They can also potentially reduce or suspend payments for up to 12 months without incurring late fees. Fannie Mae's Disaster Response Network offers personalized support, including help with financial relief from FEMA. Homeowners on COVID-19 forbearance plans are advised to reach out to their servicer for further assistance.