OTC Stock Price, News & Analysis

Fannie Mae (OTCQB: FNMA) reported a net income of $12.9 billion for 2022, with a fourth-quarter income of $1.4 billion. The financial results are detailed in its 2022 Form 10-K filed with the SEC on February 14, 2023. The filing includes consolidated financial statements for the year ending December 31, 2022. Fannie Mae has also scheduled a conference call to discuss the results at 8:00 a.m. ET on the same day. Investors can find related documents and further details on Fannie Mae’s website.

On February 7, 2023, Fannie Mae (OTC: FNMA) priced its Connecticut Avenue Securities (CAS) Series 2023-R02, a $709 million note offering, marking its second CAS REMIC transaction of the year. The reference pool encompasses about 64,000 single-family mortgage loans valued at approximately $20.3 billion. Loans were acquired between February and March 2022, with loan-to-value ratios ranging from 60.01% to 80.00%. Fannie Mae will retain portions of several tranches and has issued over $60 billion in CAS notes overall, transferring credit risk on more than $2 trillion in single-family mortgages.

BNCCORP, INC. (OTC: BNCC) reported a fourth-quarter net income of $1.5 million, or $0.41 per diluted share, down from $3.3 million, or $0.92 per share in Q4 2021. The Community Banking segment generated a net income of $3.5 million, while the Mortgage Banking segment faced a net loss of $1.7 million. Mortgage revenue plummeted to $1.1 million versus $5.7 million in the prior year. However, net interest margin increased to 3.94% from 2.88%. Loan origination grew by $86.9 million, marking a 16.4% rise in loans held for investment, now at $616.5 million. Non-performing assets decreased to $1.4 million, and the allowance for credit losses was at 1.43% as of December 31, 2022.

Touchstone Bankshares (OTC: TSBA) reported its Q4 and annual financial results for 2022, showing a net income of $4.1 million for the year, down 9% from 2021. Earnings per share were $1.24, compared to $1.33 the previous year. The bank experienced a notable 21% growth in total loans, totaling $487.2 million. However, it faced a significant deposit outflow in Q4, which management considered temporary. The bank raised $10 million in subordinated debt and completed a $1.5 million stock repurchase program. Additionally, noninterest income decreased by 7.7%, and noninterest expenses rose by 10.5% year-over-year.

Fannie Mae (OTC: FNMA) reported providing over $69 billion in debt financing in 2022 to support affordable housing through its DUS® platform and Low-Income Housing Tax Credit equity. This marked a significant achievement, with Multifamily Affordable Housing volumes rising nearly 7% to $10.3 billion. Structured Transactions surged by 82.6% to $10.3 billion, and Seniors Housing financing rose over 26% to $1 billion. Fannie Mae's LIHTC investments created or preserved more than 35,000 affordable units and committed $1.7 billion in capital for 2021 and 2022.

Sterling Consolidated Corp. (OTC: STCC) reported significant financial growth for the nine months ending September 30, 2022, with sales reaching $11,498,796, marking a 51% increase from the previous year. The third quarter saw sales of $4,728,018, a remarkable 79% rise compared to 2021. The company achieved a nine-month net income of $100,837. CEO Darren DeRosa highlighted the ability to navigate global supply chain challenges and credited the workforce for these results. The company remains focused on meeting growing demand in the hydraulic and pneumatic seal markets.

Fannie Mae forecasts a modest recession beginning in early 2023, driven by elevated mortgage rates and home prices constraining housing activity. The Economic and Strategic Research Group predicts a 0.6% decline in GDP growth for 2023 and a cumulative 6.7% drop in home prices over two years, although they do not foresee a repeat of the Great Financial Crisis. Existing home sales are expected to remain depressed due to affordability issues, while new home sales may outperform. Economic signals indicate a potential soft landing, although a tight labor market could lead to prolonged elevated rates by the Federal Reserve.

Fannie Mae's latest Home Price Index (FNM-HPI) report indicates a decline in annual home price growth to 9.2% in Q4 2022, a significant drop from 13.1% the previous quarter. Non-seasonally adjusted, home prices fell by 1.0% from Q3 2022, while seasonally adjusted prices rose 0.2%. Rising mortgage rates and inflation are squeezing buyer affordability, contributing to a slowdown in home sales and reduced supply due to homeowners' reluctance to give up lower-rate mortgages. The FNM-HPI serves as a key indicator of single-family home price trends in the U.S.

Retail Holdings N.V. (RHDGF) announced its financial results for the year ending December 31, 2022, revealing a net loss of $439 thousand from discontinued operations. This represents a decline compared to an income of $334 thousand in the previous year. The loss attributable to shareholders increased to $373 thousand or $0.08 per share, compared to $259 thousand or $0.06 per share in 2021. The Company is progressing towards the liquidation of its parent entity, with unresolved issues still pending.