Orlando, FL -- (SBWIRE) -- 08/20/2013 -- 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(OTC:FNMA), Federal Home Loan Mortgage Corp(OTC:FMCC).
Federal National Mortgage Association(OTC:FNMA) shares declined 3.68% to $1.31. The company on August 19 said it plans to sell $2.5 billion of benchmark bills. The sale will include $1 billion of three-month bills, due Nov. 20, 2013, and $1.5 billion of six-month bills, due Feb. 19, 2014. Settlement is Aug. 21-22.
Additionally, the company on July 29 said it plans to sell $2 billion of benchmark bills. The sale will include $1 billion of three-month bills, due Oct. 30, 2013, and $1 billion of six-month bills, due Jan. 29, 2014. Settlement is July 31-Aug. 1.
Additionally, Fairholme Funds Inc., a mutual fund headed by Bruce Berkowitz, on July 10 accused the U.S. in a lawsuit of expropriating the value of its investors’ preferred shares of Fannie Mae and Freddie Mac by seizing the companies’ profit.
Are investors worried about the recent updates with FNMA? Find out with a free trend analysis HERE
Federal Home Loan Mortgage Corp(OTC:FMCC) shares declined 3.94% to $1.22. The company on August 19 said it sold $3 billion of reference bills at mixed rates and mixed demand compared with the most recent sales of similar maturities and comparable amounts. Freddie Mac sold $500 million of one-month bills, due Sept. 16, 2013, at a 0.045 percent rate, up from the 0.018 percent rate for its $500 million one-month bills auctioned July 22.
Additionally, the company on August 13 released the results of its second quarter 2013 quarterly refinance analysis, showing that borrowers are continuing to take advantage of near record low mortgage rates to lower their monthly payments, shorten their loan terms and overwhelmingly choosing the safety of long-term fixed-rate mortgages. Borrowers who refinanced in the second quarter of 2013 will save on net approximately $6 billion in interest over the next 12 months.
Moeover, the company on August 6 announced that former PNC Mortgage president and chief executive officer Saiyid T. Naqvi was elected as a director on the company's board. Naqvi, age 63, was responsible for management of PNC Mortgage's $121 billion portfolio and national network of 91 retail mortgage offices.
Is FMCC going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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