September 19, 2014 12:25 PM ET

Thrifts and Mortgage Finance

Company Overview of Federal National Mortgage Association

Company Overview

Federal National Mortgage Association (Fannie Mae) provides liquidity and stability support services for the mortgage market in the United States. The company securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (Fannie Mae MBS). The company’s Single-Family Credit Guaranty segment securitizes and purchases single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these loans; and loans that are insured by Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs and Rural Development Housing and Community Facilities Program of the Department of Agriculture, manufactured ...

3900 Wisconsin Avenue, NW

Washington, DC 20016

United States

Founded in 1938

7,400 Employees

Phone:

202-752-7000

Key Executives for Federal National Mortgage Association

Chief Executive Officer
Age: 55
Total Annual Compensation: $599.6K
Chief Financial Officer and Executive Vice President
Age: 54
Total Annual Compensation: $2.0M
Chief Operating Officer and Executive Vice President
Age: 59
Total Annual Compensation: $1.8M
Chief Risk Officer and Executive Vice President
Age: 52
Total Annual Compensation: $1.4M
Compensation as of Fiscal Year 2013.

Federal National Mortgage Association Key Developments

Federal National Mortgage Association To Sell Headquarters

Federal National Mortgage Association (OTCBB:FNMA) is planning to sell sell its headquarters. Pete Bakel, Spokesman of Federal National Mortgage Association, said that the decision to sell stemmed from two leases that will expire in coming years, deteriorating conditions in the headquarters building and the opportunity to consolidate employees from five locations into one.

Fannie Mae Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Other-Than-Temporary Impairments for the Second Quarter Ended June 30, 2014

Fannie Mae announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. For the quarter, total interest income was $28,746 million against $28,978 million for the same period of last year. Net interest income was $4,904 million against $5,667 million for the same period of last year. Income before federal income taxes was $5,419 million against $12,080 million for the same period of last year. Net income attributable to Fannie Mae was $3,666 million against $10,084 million for the same period of last year. Net loss attributable to common stockholders was $46 million against $159 million for the same period of last year. Loss per basic and diluted share was $0.01 against $0.03 for the same period of last year. The decrease was due primarily to a decline in the amount of income recognized by the company from settlement agreements related to private-label mortgage-related securities sold to the company. For the six months, total interest income was $57,925 million against $59,158 million for the same period of last year. Net interest income was $9,642 million against $11,971 million for the same period of last year. Income before federal income taxes was $13,328 million against $20,194 million for the same period of last year. Net income attributable to Fannie Mae was $8,991 million against $68,769 million for the same period of last year. Net loss attributable to common stockholders was $413 million against $842 million for the same period of last year. Loss per basic and diluted share was $0.07 against $0.15 for the same period of last year. Net cash provided by operating activities was $3,420 million against $4,802 million for the same period of last year. For the quarter, the company announced net other-than-temporary impairments were $23 million against $6 million for the same period of last year.

Fannie Mae Expects to Pay Dividend on Senior Preferred Stock

Fannie Mae reported a positive net worth of $6.1 billion as of June 30, 2014 and expects to pay $3.7 billion to Treasury in September 2014 as a dividend on the senior preferred stock.

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Date
Target
Merger/Acquisition
September 2, 2014
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Merger/Acquisition
August 14, 2014
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Merger/Acquisition
June 9, 2014
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