Las Vegas, NV -- (SBWIRE) -- 04/16/2013 -- Federal National Mortgage Association (OTC:FNMA) performed impressively by gaining 4.12% and closed at $0.759 in yesterday’s session.
Federal National Mortgage Association stock has remained elevated in the market, hitting the day’s high of $0.79 in its preceding session quite a few times. The stock had remained active throughout the session but the investors did not seem upbeat about the stock and supporting the trade.
The current traded volume stands at 16.04 million shares which is fairly lowers as compared to the average shares of 36.86 million for 30 days. Currently the market capitalization of the company stands at $878.98 million.
Despite the elevated stock, Fannie Mae may face some changes in U.S mortgage finance system soon. Shaun Donovan, Housing and Urban Development Secretary said that the lawmakers and regulators should be coming up with new strategies to renew the U.S mortgage finance system.
He said in an interview, “We need to ensure that we’re doing everything we can to put in place the housing finance system of the future.”
The mortgage financiers Fannie Mae and Freddie Mac, which have been held by the government in 2008 are said to be ‘wound down and replaced’, by President Barrack Obama and as well as Democrats and Republicans in Congress, though no detailed plans have come up to date.
Meanwhile both government-sponsored enterprises have begun posting quarterly profits regularly as the housing market backfires.
To find out what OTCMAGIC projects for Federal National Mortgage Associationfor both short term and long term please click here: FNMA
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