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Los Angelas, CA -- (SBWIRE) -- 01/22/2014 -- Hotpennystocknews.com issues special report on - Federal National Mortgage Association / Fannie Mae (FNMA), Freddie Mac (OTCBB:FMCC)
Federal National Mortgage Association / Fannie Mae (FNMA) is a government-sponsored enterprise (GSE) 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.
The Company’s activities include providing market liquidity by securitizing mortgage loans originated by lenders in the primary mortgage market into Fannie Mae mortgage-backed securities (Fannie Mae MBS), and purchasing mortgage loans and mortgage-related securities in the secondary market for its mortgage portfolio. Fannie Mae operates in three business segments: Single-Family business, Multifamily Business (formerly Housing and Community Development (HCD)) and Capital Markets group. Its Single-Family Credit Guaranty and Multifamily businesses work with its lender customers to purchase and securitize mortgage loans customers deliver to the Company into Fannie Mae MBS.
FNMA ended higher0.32 % and complete the day at $3.17. The total number of shares changed hands during the day was 1.16 million. After opening at $3.20, the stock hit as high as $3.22. However, it traded between $0.27 and $5.44 over the last twelve months.
For How Long FNMA will Fight for Profitability? Read This Trend Analysis report.
Freddie Mac (OTCBB:FMCC) was chartered by Congress in 1970 to provide liquidity, stability and affordability to the nation's housing market. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing.
Freddie Mac is operating under a conservatorship that began on September 6, 2008, conducting our business under the direction of the Federal Housing Finance Agency (FHFA).
They are focused on meeting the urgent liquidity needs of the U.S. residential mortgage market, lowering costs for borrowers and supporting the recovery of the housing market and U.S. economy.
Freddie Mac is both mindful and appreciative of the federal financial support we have received, and as an institution in conservatorship, we are highly focused on being good stewards of this support.
Freddie Mac’s three core business lines provide a constant source of mortgage funding for the nation’s housing markets – helping to make homeownership and rental housing more affordable for America’s families:
1. Single-Family Credit Guarantee Business
2. Multifamily Business
3. Investment Business
FMCC percentage change plunged -0.65% to close at $3.06 with the total traded volume of 2.44 million shares, along with average volume of 7.59 million shares. The 52 week range of the stock remained $0.28 - $5.00, while its day lowest price was $3.05. The share price hit the day highest price of $3.12.
Has FMCC Found The Bottom And Ready To Gain Momentum? Find Out Here.
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