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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Federal National Mortgage Association    FNMA

FEDERAL NATIONAL MORTGAGE ASSOCIATION

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Federal National Mortgage Association : ABA-FHFA Director Flags Risk from Nonbank Mortgage Lenders

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06/14/2019 | 08:36am EDT

Almost 50% of all mortgage originations sold to Fannie Mae or Freddie Mac last year came from non-depository institutions, FHFA Director Mark Calabria said today at an industry event in Washington, D.C.

Noting that 'there are some key differences between banks and non-banks that we need to address in a responsible way,' Calabria said that under his leadership, FHFA will work to improve counterparty risk standards at Fannie and Freddie. 'Our goal is to ensure that originators have the financial strength to continue lending through any market weakness or stressed environment,' he said.

Calabria also outlined his plan for removing the GSEs from conservatorship. A critical step in that process will be building capital at Fannie and Freddie, a process he expects to be underway by next year. He added that he will continue to work with Congress on a legislative solution to housing finance reform, which could include, among other things, an explicit guarantee. Should Congress create an explicit guarantee, he emphasized that 'it should be limited, clearly defined and paid for.'

(C) 2019 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
FEDERAL HOME LOAN MORTGAGE CORP 8.45% 1.54 End-of-day quote.-12.35%
FEDERAL NATIONAL MORTGAGE ASSOCIATION -0.17% 2.94 Delayed Quote.177.83%
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Financials ($)
Sales 2019 20 398 M
EBIT 2019 -
Net income 2019 19,5 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 636,40
P/E ratio 2020
Capi. / Sales 2019 0,18x
Capi. / Sales 2020 0,17x
Capitalization 3 685 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Average target price 1,50 $
Spread / Average Target -53%
EPS Revisions
Managers
NameTitle
Hugh R. Frater Chief Executive Officer & Director
David C. Benson President
Jonathan Plutzik Chairman
Bruce Lee Senior VP, Head-Operations & Technology
Celeste Marie Brown Chief Financial Officer & Executive Vice President
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