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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
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- | Earnings
- | Dividends
- | M&A
- | On the move
- Friday, August 17, 2012, 7:30 AM More on the Fannie/Freddie revamp: One consequence of the new arrangement will be the prevention of the companies' building of capital that would allow them to emerge in pre-crisis form someday. The move seems likely to fry those investors who bought preferred shares in the companies hoping for distribution of profits beyond the 10% government dividend. 3 Comments [Financials, U.S. Economy]
- Friday, August 17, 2012, 7:23 AM The Treasury is set to announce as soon as today changes to its backstop of Fannie Mae and Freddie Mac. The new arrangement would have the firms turn over all quarterly profits to the government as dividend payment, with nothing due during periods of losses. Previously, the companies made a 10% dividend payment each quarter - often borrowing from Treasury to pay the Treasury. 2 Comments [Financials, U.S. Economy, Top Stories, Breaking News]
- Wednesday, August 15, 2012, 3:53 AM With Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) increasing their efforts to persuade banks to buy back soured mortgages, five top lenders - BofA (BAC), Wells Fargo (WFC), JPMorgan (JPM), Citigroup (C) and Ally Financial - set aside nearly $3B in H1 to repurchase the loans, Bloomberg calculates. Regional lenders such as SunTrust Banks (STI) put aside an extra $1.3B. 6 Comments [Financials, Consumer]
- Wednesday, August 8, 2012, 3:21 PM Fannie Mae, Freddie Mac, and HUD slashed their inventories of repossessed homes more than 18% last year, partly due to an improving market, partly due to new foreclosure guidelines slowing the process. Freddie Mac also reports the days it takes to sell a foreclosed home has stabilized around 200, and even started to fall last quarter. Comment! [U.S. Economy]
- Wednesday, August 8, 2012, 10:39 AM Fannie Mae (FNMA.OB +11.4%) reports Q2 income of $5.1B, up from $2.7B in Q1. Like Freddie Mac, the agency is benefitting from higher property prices/lower delinquencies. Like Freddie, Fannie is able to make its $2.9B dividend payment to the Treasury without having to draw from the Treasury. (PR) Comment! [U.S. Economy, Financials]
- Friday, August 3, 2012, 5:52 AM More on BofA (BAC): talks with Fannie Mae (FNMA.OB) over the latter's request that BofA buy back billions of dollars of bad mortgages have become more constructive recently, Reuters reports. In its 10-Q, BofA said that of $10.1B in unresolved claims, $7.3B relate to loans in which borrowers have been paying for over two years. (earlier) 11 Comments [Financials]
- Tuesday, July 31, 2012, 2:30 PM FHFA head Edward DeMarco says the benefits of principal writedowns don't outweigh the costs or risks. In an open letter on its website DeMarco states that after extensive analysis of the various programs, the FHFA has concluded principal forgiveness did not clearly improve foreclosure avoidance while reducing costs to taxpayers relative to the agencies current approaches. 2 Comments [U.S. Economy]
- Tuesday, July 31, 2012, 4:11 AM The FHFA calculates that Fannie Mae and Freddie Mac could save $3.6B by reducing the balances for some homeowners who are in negative equity, the WSJ reports. Until now, the agency has maintained that the firms' existing rescue programs were less expensive. The FHFA is due to soon decide on whether to drop its opposition to Fannie and Freddie taking part in a debt-forgiveness program. 1 Comment [Consumer, Financials]
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Tuesday, July 24, 2012, 6:16 AM
The Federal Housing Finance Agency hired PWC in May to formulate contingency plans for putting Fannie Mae and Freddie Mac into receivership, which would involve liquidating the companies. The FHFA says the plan "is routine and does not indicate any condition of the current status of the regulated entities."
11 Comments [U.S. Economy] - Tuesday, June 5, 2012, 5:00 PM Fannie Mae names general counsel Timothy Mayopoulos as its next CEO. Mayopoulos has an interesting story - he was fired from BofA on the eve of its takeover of Merrill to make way for Brian Moynihan; he now will have a hand in policy regarding put-backs of punk mortgages to or purchases of new ones from the bank. 1 Comment [Financials]
- Friday, May 25, 2012, 2:36 AM Fannie Mae (FNMA.OB) has narrowed its search for a chief executive down to two candidates, sources say, with Fannie's general counsel Timothy Mayopoulos in the lead. To get Mayopoulos, Fannie Mae may have to renege on its promise to cap exec pay at ~$500K. The other candidate is Radian (RDN) CEO S.A. Ibrahim. Comment!
- Wednesday, May 9, 2012, 9:38 AM Fannie Mae reports a $2.7B profit in Q1. Toss in appreciation of its securities holdings and it rises to $3.1B - more than the $2.8B dividend payment due to Treasury - meaning the GSE doesn't have to draw public funds for the 1st time since 2008. Mortgages acquired by Fannie in Q1 averaged a 763 FICO score and a LTV of 70%. The world has changed. 3 Comments [Financials, U.S. Economy]
- Tuesday, May 1, 2012, 5:36 AM Freddie Mac executive Anthony Renzi is leaving the company this month. Renzi, who oversees Freddie's single-family mortgage business, joins a growing list of industry veterans who have departed over the past year from both Fannie and Freddie, with more departures likely to follow. 6 Comments
- Wednesday, April 11, 2012, 5:36 AM Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) could save $1.7B by forgiving principal on some problem loans, FHFA Acting Director Edward DeMarco said yesterday. However, the net cost to the taxpayer would be $2.1B, as the savings would come from Treasury incentives via the expanded Home Affordable Modification Program and using TARP funds. 1 Comment [Financials, U.S. Economy]
- Monday, March 19, 2012, 9:38 AM The Treasury Department says taxpayers reaped a $25B profit on mortgage bonds purchased at the height of the financial crisis, the Treasury's biggest profit for any program tied to the 2008-09 crisis. The government last week sold the last of the bonds, winding down Treasury's ownership of debt backed by Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB). 1 Comment [U.S. Economy]
- Monday, March 19, 2012, 5:35 AM Paulson, Amherst and other Wall St. investors are considering bidding for pools of repossessed properties being sold by Fannie Mae (FNMA.OB). The bidders would buy to rent rather than to resell, and so help boost the housing sector by reducing the backlog of properties on the market. 1 Comment [U.S. Economy]
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Patrick Harden
Interesting decision to delist FRE and FNM. Maybe because a reverse split would expose how watered down these two stocks really are? - View all 0 replies
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Thomas Pan
Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case FNM FRE IYR URE SRS DRN DRV http://tinyurl.com/3ack62v - View all 0 replies
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Thomas Pan
Fannie and Freddie own or guarantee 53 percent of the nation's $10.7 trillion in residential mortgages FNM FRE - View all 0 replies
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candlestickpicks
$FNM completed a black hammer candlestick pattern on 5/3/2010. Look for an upward price movement on 5/04/2010 - View all 0 replies
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Jason Tillberg
Fear about to strike markets hard. Long overdue. Anyone who can do math and saw GM and FNM go bust knows full well the busts to come. - View all 0 replies
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Nathan W Martin
XLF above $17 for first time since mid-Oct 2008 with a gap to ~$20 created by the Lehman bankruptcy, FNM/FRE. GS still below Fall 2009 high - View all 0 replies
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