BNET Industries
Fannie Mae (FNM) is in the Financial Services Industry
- Revenue
- Dec 31 2007
- $43.3B
- Profit
- Dec 31 2007
- ($2.0B)
- Market Cap
- Oct 09 2008
- $1.0B
Latest News and Analysis
New Home for a Fallen Housing Giant
Don't shed any tears for Franklin Raines, former chief executive of Fannie Mae and villain of the moment for Republicans. While Raines was being demonized by the McCain campaign for his stewardship of the mortgage finance giant, he was buying a $4.9 million bachelor pad in...
August Pending Home Sales Jump 7.4 Percent: NAR
By Lynn AdlerNEW YORK (Reuters) - Pending sales of existing U.S. homes unexpectedly jumped in August to the highest in over a year, data from a real estate trade group showed on Wednesday.The National Association of Realtors Pending Home Sales Index, based on signed contracts, rose 7.4 percent in August...
Former AIG Execs Draw Fire From U.S. Lawmakers
By Kim Dixon and Rachelle YounglaiWASHINGTON (Reuters UK) - Lawmakers criticized American International Group Inc AIG on Tuesday for ignoring financial warnings and for lavish spending, including an executive retreat just days after getting an $85 billion (48.6 billion pound) rescue loan.Former top executives, who blamed the insurer's woes on...
Regulator Says Fannie, Freddie Might Sell Bad Assets
By John PoirierWASHINGTON (Reuters) - Fannie Mae FNM and Freddie Mac FRE may sell some bad assets to the Treasury Department but a decision has not yet been made, the regulator of the two mortgage finance companies said on Sunday."They are financial institutions that could sell assets," James Lockhart, director...
So the Perpetrators Are Now Our Saviors?
Markham Lee submits: It's no secret that I'm of the opinion that Congressional hearings are often a waste of time, that the politicians on the Senate Banking and House Financial Services Committee are clueless, and that Congress is to blame for mismanaging the Mortgage GSEs. Lest you think that...
Interesting Times in the Agency Market
John Jansen submits: These are interesting times in the agency market . There is quite a bit of dialogue and conversation between portfolio managers and research people regarding the wide discrepancy between the spreads of the conservatory twins (FNMA FNM and Freddie Mac FRE) and Federal Home Loan debt.That...
How Much Are Fannie and Freddie to Blame?
Paul Kedrosky submits: Peter Wallison at AEI has out an attempted take-down of economist Paul Krugman ("Fannie, Freddie and You", 7/14/2008), and pretty much anyone else who thinks Freddie and Fannie's role in this crisis during the 2005-2007 period was irrelevant compared to private actors. It's provocative stuff, and...
Bailout: Let's Not Forget How We Got Into This Mess
David I. Templeton submits: Congress has a convenient way of twisting the truth about how this country got into the mortgage mess. Those who cannot remember the past are condemned to repeat it. by David I. Templeton
Barclays Gets Most Fannie, Freddie, FHLB Business
NEW YORK (Reuters) - Barclays Capital, the investment banking arm of Barclays Plc BARC, retained its spot as top underwriter in the $3 trillion federal agency debt markets in 2008 year-to-date from a year earlier, according to Thomson Reuters.The firm managed $69.1 billion in debt of issuers including Fannie Mae,...
Sovereign Bancorp Replaces CEO, Shares Surge
By Christian Plumb and Jonathan StempelNEW YORK (Reuters) - Sovereign Bancorp Inc SOV, the largest remaining U.S. savings and loan, has hired Paul Perrault as chief executive, replacing Joseph Campanelli, who had held the job less than two years.The Philadelphia-based lender was also upgraded by two analysts, and its shares...
Fannie, Freddie Get Federal Grand Jury Subpoenas
NEW YORK (Reuters) - Fannie Mae and Freddie Mac, the U.S. mortgage finance giants that were taken over by the government this month, said on Monday they were subpoenaed for documents as part of a federal grand jury investigation into their accounting.The U.S. Attorney's office for the Southern District of...
Subprime, Alt-A Mortgage Performance Continues To Decline [Housing Tracker]
Seeking Alpha's Housing Tracker is a collection of housing-related excerpts from various sources, grouped by topic. Feel free to post any interesting links on the subject in the comments section below. Speedier Bank Transfers Sought by Fannie. “Financial Services Roundtable, a trade group representing financial-services companies: Fannie Mae FNM...
Will The Bailout Create New Fannies and Freddies?
Donald Johnson submits: The Emergency Economic Stabilization Act of 2008 could turn into a massive bailout program for municipalities and counties that have seen their revenues “disrupted by the current market turmoil,” and it could create new Fannie Maes FNM and Freddie Macs FRE. And if passed as written...
3 Key Steps to Fix This Fiasco
Keith Fitz-Gerald submits: I was speaking to a standing-room-only crowd at a North Carolina investing conference recently when a sharply worded question soared over the group from a gentleman seated in the back row – and who was clearly agitated by my analysis of the whole bailout plan situation. ...
U.S. Bailout Pressure Mounts
By Jason SzepNEW YORK (Reuters UK) - Pressure mounted on lawmakers Friday to agree on a $700 billion (380 billion pounds) financial rescue plan after talks at the White House broke down in acrimony and the biggest bank closure in U.S. history roiled global markets.President George W. Bush said that...
Fannie and Freddie: Finally a Light at the End of the Tunnel?
Frederic Ruffy submits: Fannie Mae FNM and Freddie Mac FRE shares saw extreme volatility and heavy call volume Thursday. Shares of Freddie traded between $1.30 to $2.95 before settling the day down 3 cents to $1.86. In the options market, 115,000 calls and 21,000 puts traded on Freddie Thursday....
WaMu is Largest U.S. Bank Failure
By Elinor Comlay and Jonathan StempelNEW YORK/WASHINGTON (Reuters) - Washington Mutual Inc WM was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co JPM for $1.9 billion.The rescue marks a historic step to...
Fannie, Freddie Shares Jump as Shorts Book Profits
By Lynn Adler and Doris FrankelNEW YORK/CHICAGO (Reuters) - Fannie Mae and Freddie Mac shares jumped almost 50 percent on Thursday as Congress neared an agreement on a $700 billion bailout plan that would help the two mortgage finance companies, forcing some investors to reverse bets the stocks would fall.The...
Again ... It Wasn't Fannie and Freddie
Mark Thoma submits: There are two questions that are being confused in the debate over the source of the financial crisis: 1. What caused Fannie FNM and Freddie FRE to fail? 2. What caused the financial crisis? Answering the first question does not necessarily answer the second. Showing...
Bailout Plan Soothes Shareholders: Legg's Miller
By Muralikumar AnantharamanBALTIMORE (Reuters) - Warren Buffett's $5 billion investment in Goldman Sachs GS shows that shaken investors have been calmed by the $700 billion U.S. financial sector bailout plan and they are reopening their wallets to the industry, fund manager Bill Miller said.These shareholders had stopped investing fresh capital...
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- Incorporated: 1938
- CEO: Mr. Herb M. Allison Jr.
Fannie Mae is engaged in providing funds to mortgage lenders through its purchases of mortgage assets, and issuing and guaranteeing mortgage-related securities that facilitate the flow of additional funds into the mortgage market. Co. also makes other investments that increase the supply of affordable housing. Co.'s customers include mortgage banking companies, investment banks, savings and loan associations, savings banks, commercial banks, credit unions, community banks, insurance companies, and state and local housing finance agencies. Co. is organized in three business segments: Single-Family Credit Guaranty, Housing and Community Development, and Capital Markets.
Key Competitors
Fannie Mae Company Info
Board of Directors
Mr. Philip A. Laskawy
Non-Executive Chairman
Mr. Frederick B. Harvey III
Mr. Dennis R. Beresford
Ms. Brenda J. Gaines
Contact Information
3900 Wisconsin Avenue, NW
Washington, DC
202 752-7000
NAICS Code
Real Estate Credit: 522292Brought to you by IBM
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