Las Vegas, NV -- (SBWIRE) -- 09/24/2013 -- Federal National Mortgage Association (OTCBB:FNMA) also well-known as Fannie Mae has its watchdogs to thrust the refinancing for underwater loans according to a web source on Monday, September 23rd, 2013.
According to the newsflash, the U.S. officials have started a campaign to encourage around 2 million borrowers with mortgages backed by Fannie Mae for properties that have lost value. The average rate on a 30-year home loan was 4.5 percent as of last week, a five-week low as itemized from the company’s records and statistics.
Fannie Mae provides stability to support services in the secondary mortgage market in the United States. They facilitate people to buy, refinance, or rent a home. The company securitizes mortgage loans originated by lenders in the primary mortgage market into Fannie Mae mortgage-backed securities.
To find out what OTCMAGIC projects for Federal National Mortgage Association for both short term and long term please click here: FNMA
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