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Last $2.35 USD
Change Today -0.02 / -0.84%
Volume 2.4M
As of 8:10 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

3900 Wisconsin Avenue, NW

Washington, DC 20016

United States

Phone: 202-752-7000

Fax:

ducts post-purchase quality control file reviews to ensure that loans sold to, and serviced for, the company meets its guidelines. Multifamily segment This segment provides mortgage market liquidity for properties with five or more residential units, which might be apartment communities, cooperative properties, seniors housing, dedicated student housing or manufactured housing communities. This segment works with the company’s lender customers to provide funds to the mortgage market primarily by securitizing multifamily mortgage loans into Fannie Mae MBS. The company also purchases multifamily mortgage loans and provides credit enhancement for bonds issued by state and local housing finance authorities to finance multifamily housing. This segment also works with the company’s Capital Markets segment to facilitate the purchase and securitization of multifamily mortgage loans and securities. The company’s multifamily guaranty book of business consists primarily of multifamily mortgage loans underlying Fannie Mae MBS and multifamily loans held in its retained mortgage portfolio. This segment has primary responsibility for pricing and managing the credit risk on its multifamily guaranty book of business, including managing the credit risk on multifamily loans and Fannie Mae MBS backed by multifamily loans that are held in the company’s retained mortgage portfolio. Multifamily Mortgage Securitizations This segment creates multifamily Fannie Mae MBS in lender swap transactions in a manner similar to the company’s Single-Family segment. The company’s multifamily lender customers typically deliver only one mortgage loan, often a fixed-rate loan, to back each multifamily Fannie Mae MBS. The company also issues structured transactions backed by multifamily Fannie Mae MBS through the Fannie Mae Guaranteed Multifamily Structures program. This provides additional liquidity and stability to the multifamily market, while expanding the investor base for multifamily Fannie Mae MBS. Delegated Underwriting and Servicing (DUS) DUS is a business model in the commercial mortgage industry. The company’s DUS model aligns the interests of the lender and Fannie Mae. Its 24-member DUS lender network, which includes large financial institutions and independent mortgage lenders, continues to be the company’s principal source of multifamily loan deliveries. Multifamily Mortgage Servicing As a seller-servicer, the lender is responsible for evaluating the financial condition of properties and property owners, administering various types of agreements (including agreements regarding replacement reserves, completion or repair, and operations and maintenance), as well as conducting routine property inspections. Capital Markets segment This segment manages the company’s mortgage-related assets and other interest-earning non-mortgage investments. The company funds its purchases primarily through proceeds that the company receives from the issuance of debt securities in the domestic and international capital markets. This segment has primary responsibility for managing the interest rate risk associated with its investments in mortgage assets. This segment’s business activity is primarily focused on making short-term use of its balance sheet rather than on long-term investments. As a result, this segment works with lender customers to provide funds to the mortgage market through short-term financing and investing activities. Activities that the company is undertaking to provide liquidity to the mortgage market include the following: Whole Loan Conduit: Whole loan conduit activities involve the company’s purchase of single-family loans principally for the purpose of securitizing them. The company purchases loans from a large group of lenders and then securitizes them as Fannie Mae MBS, which might then be sold to dealers and investors. Early Funding: Lenders who deliver whole loans or pools of whole loans to the company in exchange for MBS typically must wait between 30 and 45 days from the closing and settlement of the loans or pools and the issuance of the MBS. Under the company’s early lender funding programs, it

 

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FNMA Competitors

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Company Last Change
Ally Financial Inc $20.92 USD -0.94
Commerzbank AG €9.77 EUR +0.108
Federal Home Loan Mortgage Corp $2.25 USD -0.01
Genworth Financial Inc $4.85 USD -0.33
UniCredit SpA €5.71 EUR +0.08
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Valuation FNMA Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.6x
Price/Book NM Not Meaningful
Price/Cash Flow 0.2x
TEV/Sales NM Not Meaningful
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