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Fannie Mae Delinquencies: August Still At Distressed LevelsSold At The Top • Tue, Oct 11, 2011 -
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Fannie Mae, Q1 2008 Earnings Call TranscriptTue, May 6, 2008 • 2 Comments
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Fannie Mae Q4 2006 Earnings Call TranscriptThu, Aug 16, 2007
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FNMA.OB vs. ETF Alternatives
Company Description
Fannie Mae is a government-sponsored enterprise that was chartered by Congress in 1938 to support liquidity, stability and affordability in the secondary mortgage market, where existing mortgage-related assets are purchased and sold. Our charter does not permit us to originate loans and lend... More
Country: United States
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Monday, January 28, 9:54 AM A sweet deal, Fannie and Freddie launch a new program to allow certain underwater homeowners to walk away and face a so-called deed-in-lieu rather than foreclosure. "Extraordinarily generous," says University of MD's Phillip Swagel. "We're giving people an incentive to walk away right when the housing market is starting to right itself." 1 Comment [U.S. Economy]
- Tuesday, January 8, 12:45 PM Fannie Mae's (FNMA.OB) major settlement with Bank of America yesterday takes care of about 75% of the GSE's buyback issue, says CEO Tim Mayopoulos. "Many of those resources we were devoting to legacy issues ... can now be put to other uses." 3 Comments [U.S. Economy]
- Wednesday, December 26, 2012, 7:10 AM The Obama Administration considers expanding its mortgage-refinance program to include those loans not held by the GSE's. Fannie and Freddie back just 50% of the nation's mortgages, leaving a big chunk of the 10.8M underwater mortgage loans not qualified for the HAMP. What happened to weaning the nation off of public mortgage finance? 40 Comments [U.S. Economy]
- Wednesday, December 19, 2012, 3:01 PM Fannie Mae and Freddie Mac may have lost more than $3B as a result of Libor-rigging (UBS settlement earlier), according to an FHFA report, which urges the GSEs to sue the banks involved. The companies have begun exploring legal options. 3 Comments [Financials, U.S. Economy, Global & FX]
- Friday, December 14, 2012, 11:47 AM Talking his book at a Brookings conference, Bank of America (BAC) CEO Moynihan warns against a hasty exit for Frannie from the mortgage market. Private capital would like to get a shot at the business, he says, but it's not there yet. "(Fannie and Freddie) will be critical to the transition." Comment! [Financials, U.S. Economy]
- Monday, November 26, 2012, 4:17 AM UBS (UBS) is due to ask an Appeals Court today to dismiss a lawsuit from the FHFA over losses on $6.4B in mortgage bonds sold to Fannie Mae and Freddie Mac. UBS argues that the claims expired in 2010 and so are time-barred by the statute of repose. The stakes are high not just for UBS but also for several other banks that the FHFA has sued for a similar reason, including JPM, Barclays (BCS) and GS. Comment! [Financials, Top Stories]
- Wednesday, November 7, 2012, 9:11 PM Fannie Mae (FNMA.OB) reports Q3 net income of $1.8B vs. a $5.1B loss a year ago as an improving housing market allowed a $9B drop in loan loss reserves to $67B. Like with Freddie Mac, more and more of the loan book (63% now) consists of mortgages originated post-bubble - thus making them stellar credits. The company expects to report an annual profit for the first time since 2006. (PR) Comment! [Financials, U.S. Economy, Earnings]
- Wednesday, November 7, 2012, 12:48 PM Principal write-downs on mortgages could be coming as the President's reelection likely means Ed DeMarco's days as FHFA chief are numbered. Applying the quaint notion the housing agencies are to be stewards of taxpayer money, DeMarco has blocked administration plans for write-downs, arguing they would not just be costly, but ineffective as well. Nice to know you, Mr. DeMarco. 12 Comments [U.S. Economy]
- Wednesday, October 31, 2012, 12:41 PM The game is changed for mortgage servicers with regards to short sales as new guidelines agreed to by Fannie Mae and its insurers - among them Genworth (GNW) and Radian (RDN) - go into effect. The changes allow the servicers to approve such sales (as well as deeds-in-lieu) without getting approval from the insurers. The servicing business gets better and better. (earlier) Comment! [Financials, U.S. Economy]
- Friday, October 26, 2012, 3:01 PM The improving housing market is expected to allow Fannie and Freddie to begin paying back their taxpayer bailout faster than expected, according to a new FHFA report. The baseline forecast now sees the two agencies as just owing $76B by 2014's end, against $124B estimated this time a year ago. Getting down to $0? It's probably never going to happen. 1 Comment [Financials, U.S. Economy]
- Friday, October 26, 2012, 6:12 AM Bank of America (BAC) staff could face civil fraud charges as part of a government lawsuit that accuses the bank of misrepresenting the quality of home loans its Countrywide unit sold to Fannie and Freddie, causing losses of over $1B to taxpayers. It would be a rare move given the lack of cases brought against individuals over the financial crisis. 2 Comments [Financials]
- Friday, October 26, 2012, 5:46 AM Freddie Mac (FMCC.OB) resisted allowing mortgage-borrowers to refinance to cheaper loans partly due to concerns the move would hurt profits and prevent it from paying back its bailout, a ProPublica investigation finds. More aggressive refinancing from Freddie and Fannie Mae (FNMA.OB) could have helped an extra 9M people and saved them almost $75B in interest payments, economist Christopher Mayer estimates. 1 Comment [U.S. Economy]
- Wednesday, October 24, 2012, 2:51 PM Job number one of the next Obama administration would appear to be the ousting of FHFA chief Ed DeMarco, who has blocked Treasury's efforts for principal reductions for troubled mortgages. Doing the job he was hired to do, DeMarco contends such moves sound nice, but have proven to be worse than existing programs at reducing foreclosures and saving the taxpayer money. 3 Comments [Financials]
- Friday, August 31, 2012, 2:35 PM Winding down state-sponsored mortgage finance will be easier said than done, as Fannie Mae purchased $81.9B mortgages in July, nearly double the amount from a year ago. The growing business for the GSEs is another signal housing is rebounding, but exactly how do politicians expect to replace them? 4 Comments [U.S. Economy]
- Friday, August 17, 2012, 12:56 PM Can't get enough of the Treasury/GSE news? Behind the move, speculates ZH, is Tim Geithner's fury at FHFA head DeMarco's snubbing of administration plans to impose principal reductions on mortgages ahead of the election. More? From the Treasury PR: "(This ends) the circular practice of the Treasury advancing funds to the GSEs simply to pay back dividends to Treasury." Did Treasury just admit it was running a Ponzi operation? 6 Comments [Financials, On the Move]
- Friday, August 17, 2012, 12:48 PM The Treasury's move to help itself to all of the profits of Fannie Mae and Freddie Mac has indeed blown up a popular trade - that of buying up the preferreds in the hope the companies would one day earn enough to again make payments on them. One issue, the Fannie 8.25s, is off 59%. 6 Comments [U.S. Economy, Financials]
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Derek Pilecki
I posted a brief review of Freddie's Q2 earnings to my blog http://bit.ly/q45QDT/ $FMCC.OB $FNMA.OB - View all 0 replies
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Michael Bryant
Fannie Mae's (FNMA.OB) "fundamentals are clearly improving." http://yhoo.it/hd4p7z I got burned by Freddie Mac (FMCC.OB). - View all 0 replies
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Michael Terry
The regulator of FNM and FRE said it is trying to determine if issuers of private mtg bonds are liable for losses suffered by the agencies. - View all 0 replies
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David White
CNBC posits that the FRM & FNM takeovers could cost US taxpayers $1T. More bad news for today's market. - View all 0 replies
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Wall St. Cheat Sheet
Fannie and Freddie are HUGE off balance sheet liabilities. Seems like Uncle Sam learned something from Ken Lay and Enron $FRE $FNM #mkt - View all 0 replies
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