Federal Nat Stock Price, News & Analysis

Fannie Mae has announced the winner of its twenty-fifth non-performing loan sale transaction. The deal, announced on September 10, 2024, involved the sale of 1,675 deeply delinquent loans with a total unpaid principal balance of $280.0 million. The winning bidder was VRMTG ACQ, (VWH Capital Management, LP), a Minority and Women-Owned Business.

The transaction is expected to close on November 22, 2024. The loan pool includes 1,675 loans with an average loan size of $167,172, a weighted average note rate of 3.88%, and a weighted average broker's price opinion loan-to-value ratio of 41%. The cover bid was 101.29% of UPB (41.35% of BPO).

Purchasers are required to honor any approved or in-process loss mitigation efforts and must offer delinquent borrowers a waterfall of loss mitigation options before initiating foreclosure.

Fannie Mae (OTCQB: FNMA) has announced the sale of reperforming loans as part of its strategy to reduce its retained mortgage portfolio. The sale includes approximately 8,721 loans with an unpaid principal balance of about $1.429 billion. Qualified bidders can register for the sale, which is being marketed in collaboration with Citigroup Global Markets, Inc. Bids are due on October 29, 2024.

The sale terms require buyers to offer loss mitigation options to borrowers who may re-default within five years after the sale closing. Purchasers must honor existing loss mitigation efforts and offer a waterfall of options, including loan modifications with potential principal forgiveness, before initiating foreclosure.

The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) increased 1.8 points in September to 73.9, its highest level in over two years. A record 42% of consumers expect mortgage rates to decline in the next 12 months, up from 39% in August. However, a plurality also anticipates home prices to increase, potentially offsetting affordability improvements.

Only 19% of respondents believe it's a good time to buy a home, while 65% think it's a good time to sell. The HPSI is up 9.4 points year-over-year. Notably, renter sentiment has improved, with 20% now believing it's a good time to buy, up from 13% three months ago.

The net share of those expecting home prices to rise increased 3 percentage points to 16%. The net share expecting mortgage rates to decrease rose 2 percentage points to 15%, a second consecutive survey high.

Fannie Mae (OTCQB: FNMA) is reminding homeowners, renters, and mortgage servicers of disaster relief options available for those affected by Hurricane Helene. Homeowners facing hardship due to the hurricane are encouraged to contact their mortgage servicers to discuss relief options. Fannie Mae offers a disaster recovery counseling hotline at 855-HERE2HELP (855-437-3243).

Under Fannie Mae's guidelines, homeowners impacted by disasters may be eligible for:

• Mortgage payment reduction or suspension for up to 12 months through forbearance plans
• Suspension of late fees, foreclosures, and other legal proceedings
• 90-day forbearance plans offered by servicers if homeowner contact hasn't been established
• Post-forbearance options like Disaster Payment Deferral and Fannie Mae Flex Modification

Homeowners on COVID-19-related forbearance plans who are subsequently impacted by a disaster may still be eligible for assistance.

Fannie Mae (OTCQB: FNMA) has released its August 2024 Monthly Summary, providing key insights into the company's financial activities. The report encompasses important data on Fannie Mae's gross mortgage portfolio, mortgage-backed securities, and other guarantees. Additionally, it includes information on interest rate risk measures and serious delinquency rates. This comprehensive summary offers a detailed overview of both monthly and year-to-date activities, serving as an essential resource for investors and analysts tracking Fannie Mae's performance in the mortgage finance sector.

Fannie Mae's Economic and Strategic Research (ESR) Group forecasts existing home sales to hit a nearly 30-year low in 2024, despite lower mortgage rates and improved supply in some regions. The slowest pace since 1995 is expected due to home-purchase demand at current affordability levels. Regional variations in housing supply are creating divergent affordability conditions, with significant inventory increases in Sun Belt and Mountain West regions. The ESR Group predicts that mortgage rates will average 5.7% by the end of 2025.

Economic growth outlook remains mostly unchanged, with the economy likely shifting into a slower growth path. The Federal Reserve is expected to move towards a more neutral monetary policy stance as inflation approaches the 2% target. Real GDP growth is anticipated to remain subdued before returning to the long-term trend by late 2025.

Fannie Mae (OTCQB: FNMA) has priced its sixth and final Connecticut Avenue Securities® (CAS) REMIC® transaction of 2024, a $708 million note offering. This brings the total CAS issuance for the year to approximately $4.3 billion. The CAS Series 2024-R06 reference pool includes about 50,000 single-family mortgage loans with an outstanding unpaid principal balance of $16.6 billion.

The reference pool consists of fixed-rate, 30-year term mortgages with loan-to-value ratios of 60.01% to 80.00%, acquired between October and December 2023. Fannie Mae will retain portions of various tranches and the full first-loss tranches. The offering includes multiple classes with different pricing levels and expected ratings.

This transaction marks Fannie Mae's 67th CAS deal, bringing its total issuance to nearly $69 billion in notes, transferring credit risk on approximately $2.3 trillion in single-family mortgage loans.

Fannie Mae (OTCQB: FNMA) has announced the results of its thirty-second reperforming loan sale transaction. The deal, announced on August 13, 2024, involved the sale of 3,092 loans totaling $607,166,012 in unpaid principal balance (UPB). The winning bidders were Goldman Sachs Mortgage Company for Pool 1 and RCAF Loan Acquisition, LP for Pool 2. The transaction is expected to close by October 25, 2024.

Pool 1 consists of 2,254 loans with an aggregate UPB of $461,758,162, while Pool 2 includes 838 loans with an aggregate UPB of $145,407,850. The cover bids were 87.25% of UPB for Pool 1 and 87.00% of UPB for Pool 2. The sale requires buyers to offer loss mitigation options to borrowers who may re-default within five years and honor any approved or in-process loss mitigation efforts.

Fannie Mae (OTCQB: FNMA) has announced its latest sale of non-performing loans, including its 25th Community Impact Pool (CIP). The sale comprises a large pool of approximately 1,766 deeply delinquent loans totaling $296.7 million in unpaid principal balance (UPB), and a CIP of about 29 loans totaling $7.2 million in UPB, focused on the New York area. This initiative is part of Fannie Mae's ongoing effort to reduce its retained mortgage portfolio size.

The sale, marketed in collaboration with BofA Securities, Inc. and First Financial Network, Inc., requires buyers to offer sustainable loss mitigation options to borrowers. Bids are due on October 3, 2024, for the large pool and October 17, 2024, for the CIP. The terms include honoring existing loss mitigation efforts and offering a waterfall of options before initiating foreclosure.