Orlando, FL -- (SBWIRE) -- 08/16/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Federal National Mortgage Association (OTCBB:FNMA), Federal Home Loan Mortgage Corp (OTCBB:FMCC).
Largest US home funding source Federal National Mortgage Association(OTCBB:FNMA) confirmed selling of $2.0 billion benchmark bills at higher rate of interest vis-à-vis as compared to previous week of sale of maturities.
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The firm had sold $1 billion of three-month bills which are due on Nov. 13, 2013 at a 0.079 percent stop-out rate, an increase of 0.062 percent rate for $1.0 billion of three-month bills sold on Aug. 7.
The firm had sold $1 billion of six-month bills which were due on Feb. 12, 2014 at 0.100 percent rate, up from 0.095 percent rate for $1.0 billion of six-month bills sold in the previous week.
The bills for three-month which are for 99.980 come with a yield of 0.079 percent whereas the bills for six-month were priced at 99.949 with a yield of 0.100 percent.
US-owned mortgage financier Freddie Mac would be paying $4.4 billion to Treasury Department after the improvement in housing-market has made the firm post a seventh consecutive profitable quarter.
The firm has operated under federal watch since 2008 and generated net income of $5 billion for the three-months ending June.
Federal Home Loan Mortgage Corp(OTCBB:FMCC) CEO Donal Layton opined that the financial results continue to benefit from the improvement in housing market minimalizing losses as well as making it look a better outlook for the business.
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The company had net worth of $7.4 billion at the end of the second quarter.
Freddie Mac as well as Fannie Mae were bailed out of crisis by a $190 billion assistance from the federal government.
They together have paid $131.6 billion in dividends since then. The firm may also give back about $28.6 billion to the federal government over the next two quarters.
Hedge funds including Paulson & Co. Inc. have been insisting Congress to give up on plans for liquidating companies as they buy up preferred stock.
Few of the owners of such shares have sued government for charging the firm’s profits which should be returned to shareholders.
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