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United States

Federal National Mortgage Association (FNMFO.PK)

FNMFO.PK on OTC Markets Group - US Other OTC and Grey Market

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Latest Key Developments (Source: Significant Developments)

Fannie Mae projects 2017 U.S. economic growth of 2 pct
Friday, 20 Jan 2017 09:00am EST 

Federal National Mortgage Association : 2017 outlook: will policy changes extend the expansion? . Fannie Mae - projects 2017 u.s. Economic growth of 2.0 percent . Fannie Mae - improved consumer spending in Q3 drove a slight upward revision from prior forecast for 2017 u.s. Growth .Fannie Mae - "we expect housing to remain resilient and continue its recovery in 2017".  Full Article

Fannie Mae prices $1.351 billion Connecticut Avenue Securities risk sharing deal
Wednesday, 18 Jan 2017 02:00pm EST 

Federal National Mortgage Association : Fannie Mae prices $1.351 billion Connecticut Avenue Securities risk sharing deal .Federal National Mortgage Association says CAS series 2017-C01, a $1.351 billion note offering, is scheduled to settle on January 26, 2017.  Full Article

Federal National Mortgage Association says priced latest credit risk sharing transaction under Connecticut Avenue Securities program
Thursday, 1 Dec 2016 03:30pm EST 

Federal National Mortgage Association : Federal National Mortgage Association - priced latest credit risk sharing transaction under its Connecticut Avenue Securities program .Federal National Mortgage Association says CAS series 2016-C07, a $701.7 mln note offering, is scheduled to settle on December 8, 2016.  Full Article

Fannie Mae prices $1.03 bln multifamily DUS REMIC under its GeMS program
Tuesday, 15 Nov 2016 11:25am EST 

Federal National Mortgage Association : Fannie Mae prices $1.03 billion multifamily dus remic (FNA 2016-M12) under its GeMS program .All classes of FNA 2016-M12 are guaranteed by Fannie Mae with respect to full and timely payment of interest and principal.  Full Article

Fannie Mae announces sale of non-performing loans
Tuesday, 11 Oct 2016 04:01pm EDT 

Federal National Mortgage Association : Fannie Mae announces sale of non-performing loans . 5 pools of about 7,300 loans totaling $1.39 billion in unpaid principal balance, are available for purchase by qualified bidders .Sale of non-performing loans is being marketed in collaboration with Wells Fargo Securities, LLC as an advisor.  Full Article

Fannie Mae announces pilot sale of reperforming loans
Tuesday, 11 Oct 2016 10:30am EDT 

Fannie Mae : Fannie Mae announces pilot sale of reperforming loans . Fannie Mae - Began marketing first sale of reperforming loans as part of company's ongoing effort to reduce size of its retained mortgage portfolio . Fannie Mae - Pool of approximately 3,600 loans, totaling $806 million in unpaid principal balance, is available for purchase by qualified bidders .Fannie Mae- sale of reperforming loans is being marketed in collaboration with Citigroup Global Markets, Inc. bids are due on november 1, 2016.  Full Article

Fannie Mae- remain convinced that Fed will hold target rate steady this year
Thursday, 18 Aug 2016 09:00am EDT 

Fannie Mae : Fannie Mae says remain convinced that Fed will hold target rate steady this year . Fannie Mae says "continued momentum in consumer spending in Q3 is crucial for driving growth as business investment is struggling" . Fannie Mae says consumer spending appears "solid" heading into Q3, expect inventory investment to balance out after a "surprising" drawdown in Q2 . Fannie Mae says "tight housing inventory from a lack of new construction continues to create affordability challenges" .Federal National Mortgage Association -Economic growth is expected to rebound in second half of 2016 after a disappointing Q2.  Full Article

Fannie Mae reports Q2 net income of $2.9 bln
Thursday, 4 Aug 2016 07:30am EDT 

Federal National Mortgage Association : Fannie Mae reports net income of $2.9 billion and comprehensive income of $2.9 billion for second quarter 2016 . Reported net income of $2.9 billion for the second quarter of 2016, compared with net income of $4.6 billion . Qtrly net interest income $5,286 million versus $5,677 million . Qtrly net revenues $5,460 million versus $6,233 million . Net worth was $4.1 billion as of june 30, 2016, unchanged from december 31, 2015 . Fannie Mae expects to pay $2.9 billion in dividends to treasury in september 2016 . Net interest income was $5.3 billion for the second quarter of 2016 compared with $4.8 billion for the first quarter of 2016 . Qtrly total comprehensive income attributable to Fannie Mae $2.87 billion versus $4.36 billion . Net interest income for q2 driven by guaranty fee revenue and interest income earned on mortgage assets in retained mortgage portfolio . Single-Family net income was $2.7 billion in the second quarter of 2016, compared with $2.4 billion in the first quarter of 2016 . Forecast that total originations in the u.s. Single-Family mortgage market in 2016 will increase from 2015 levels by approximately 2% . Single-Family guaranty serious delinquency rate at quarter end of 1.32 % versus 1.44% at q1 end.  Full Article

Bluerock Residential Growth REIT buys apartment community in Atlanta
Monday, 18 Jul 2016 03:50pm EDT 

Bluerock Residential Growth REIT Inc: Purchase price of approximately $74.5 million . Acquired a leasehold interest in Class A, 336-unit, mixed-use tenside apartment homes in Atlanta, Georgia . Transaction was capitalized with a senior loan from Fannie Mae in amount of approximately $52 million .Brg invested about $22 million for 90% ownership interest, affiliate of carroll organization investing 10% in deal.  Full Article

Bank of America wins reversal of $1.27 billion penalty in "Hustle" case
Monday, 23 May 2016 10:49am EDT 

Bank of America Corp : Wins reversal of $1.27 billion penalty in "hustle" case . 2nd U.S. circuit court of appeals finds lack of evidence that the former countrywide financial intended to commit fraud . Appeals court also reverses judgment against defendant rebecca mairone . Appeals court directs that judgment be entered in favor of defendants.  Full Article

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Deutsche Bank CEO looks to future after mortgages settlement

FRANKFURT Deutsche Bank will be free to focus on a new growth strategy instead of devoting most of its energy to cleaning up past mistakes, Chief Executive John Cryan said after settling its most costly legal headache.