Last $4.28 USD
Change Today +0.06 / 1.42%
Volume 925.3K
FNMA On Other Exchanges
Symbol
Exchange
OTC BB
Stuttgart
As of 10:11 AM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

3900 Wisconsin Avenue, NW

Washington, DC 20016

United States

Phone: 202-752-7000

Fax:

Federal National Mortgage Association (Fannie Mae) operates as a government-sponsored enterprise. The company operates its business in the United States and its territories. The company provides access to mortgage credit and indirectly enables families to buy, refinance or rent homes. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities that the company guarantees, which it refers to as Fannie Mae MBS. The company also purchases mortgage loans and mortgage-related securities for securitization and sale at a later date, and for its retained mortgage portfolio. It obtains funds to support its business activities by issuing various debt securities in the domestic and international capital markets. The company conducts business in the U.S. residential mortgage market and the global securities market. It supports market liquidity by securitizing mortgage loans, which means the company places loans in a trust and Fannie Mae MBS backed by the mortgage loans are then issued. The company securitizes a majority of the single-family and multifamily mortgage loans that the company acquires. The company’s securitization transactions primarily fall within two categories, such as lender swap transactions and portfolio securitizations. Segments The company operates through three business segments: Single-Family Credit Guaranty (Single-Family), Multifamily, and Capital Markets. SINGLE-FAMILY CREDIT GUARANTY This segment, working with the company’s lender customers, provides funds to the mortgage market by acquiring single-family loans through lender swap transactions or, working also with its Capital Markets group, through loan purchases. This segment has primary responsibility for pricing and managing the credit risk on its single-family guaranty book of business, which consists of single-family mortgage loans underlying Fannie Mae MBS and single-family loans held in its retained mortgage portfolio. This segment and Capital Markets group securitize and purchase primarily conventional (not federally insured or guaranteed) single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these types of loans. The company also securitizes or purchases loans insured by the Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs, loans guaranteed by the Rural Development Housing and Community Facilities Program of the Department of Agriculture (the ‘Department of Agriculture’), manufactured housing loans and other mortgage-related securities. Single-Family Mortgage Securitizations and Other Acquisitions The company’s Single-Family business securitizes single-family mortgage loans and issues single-class Fannie Mae MBS. Single-Family Mortgage Servicing, REO Management, and Lender Repurchases Servicing: The company’s mortgage servicers collect and deliver principal and interest payments, administer escrow accounts, monitor and report delinquencies, perform default prevention activities, evaluate transfers of ownership interests, respond to requests for partial releases of security, and handle proceeds from casualty and condemnation losses. Its mortgage servicers are the primary point of contact for borrowers and perform a major role in the implementation of its homeownership assistance initiatives, negotiation of workouts of troubled loans, and other loss mitigation activities. REO Management: If a loan defaults and the company acquires a home through foreclosure or a deed-in-lieu of foreclosure, it markets and sells the home through local real estate professionals. Lender Repurchase Evaluations: The company conducts post-purchase quality control file reviews to ensure that loans sold to, and serviced for, the company meet its guidelines. MULTIFAMILY This segment provides mortgage market liquidity for properties with five or more residential units, which might be apartment communities, cooperative properties, seniors housing, dedicated student housing or manufactured housing communities. This segment works with the company’s lender customers to provide funds to the mortgage market

 

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