Federal National Mortgage Stock (OTC: FNMAL)

Latest news for Federal National Mortgage (OTC:FNMAL) Stock

FED NATL MTG PFD M

Federal National Mortgage Association Fannie Mae is a source of financing for mortgages in the United States. The company has two segments namely the Single-Family business that operates in the secondary mortgage market relating to single-family mortgage loans, which are secured by properties containing four or fewer residential dwelling units and the Multifamily business operates in the secondary mortgage market relating mainly to multifamily mortgage loans, which are secured by properties containing five or more residential units. The majority of the revenue is derived from the Single-Family segment.

4.75 % Non Cum Pfd Registered Shs Series -M-

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Fannie Mae And Freddie Mac Saw Massive Increases In Trading Volume In January

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Fannie Mae, Freddie Mac Preferred Shareholders Could See Huge Upside From Conversion Process

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Federal National Mortgage

<p>Trading data from OTC Markets Group shows that shares of government-sponsored entities Fannie Mae and Freddie Mac saw a dramatic increase in dollar trading volume last month.</p>

<p>Common shares of <strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMA#OTCQB">FNMA</a>) and <strong>Freddie Mac</strong> (OTCQB:<a class="ticker" href="/stock/FMCC#OTCQB">FMCC</a>) experienced 795 percent and 529 percent month-over-month increases in dollar volume respectively. The increase was also seen in preferred shares as well, as some share classes saw month-over-month dollar volume increases of over 1,000 percent.</p>

<h3>Fannie Mae</h3>

<table border="1" cellpadding="1" cellspacing="1" style="width:600px">
	<thead>
		<tr>
			<th scope="col">SHARE CLASS</th>
			<th scope="col">JAN VOLUME ($)</th>
			<th scope="col">DEC VOLUME ($)</th>
			<th scope="col">% CHANGE</th>
			<th scope="col">&nbsp;</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td><strong>Fannie Mae </strong>(OTCQB:<a class="ticker" href="/stock/FNMFM#OTCQB">FNMFM</a>)</td>
			<td>$16,353,371</td>
			<td>$296,958</td>
			<td>5,407%</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMAL#OTCQB">FNMAL</a>)</td>
			<td>$19,762,626</td>
			<td>$963,258</td>
			<td>1,952%</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMFO#OTCQB">FNMFO</a>)</td>
			<td>$41,523,292</td>
			<td>$4,359,500</td>
			<td>852%</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMA#OTCQB">FNMA</a>)</td>
			<td>$828,721,292</td>
			<td>$92,618,310</td>
			<td>795%</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae </strong>(OTCQB:<a class="ticker" href="/stock/FNMAH#OTCQB">FNMAH</a>)</td>
			<td>$21,246,439</td>
			<td>$3,580,183</td>
			<td>493%</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMAS#OTCQB">FNMAS</a>)</td>
			<td>$619,571,945</td>
			<td>$185,522,821</td>
			<td>234%</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMFN#OTCQB">FNMFN</a>)</td>
			<td>$29,382,633</td>
			<td>$14,570,150</td>
			<td>102%</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMAT#OTCQB">FNMAT</a>)</td>
			<td>$20,891,849</td>
			<td>$29,954,226</td>
			<td>-30%</td>
			<td>&nbsp;</td>
		</tr>
	</tbody>
</table>

<h3>Freddie Mac</h3>

<table border="1" cellpadding="1" cellspacing="1" style="width:600px">
	<thead>
		<tr>
			<th scope="col">SHARE CLASS</th>
			<th scope="col">JAN VOLUME ($)</th>
			<th scope="col">DEC VOLUME ($)</th>
			<th scope="col">% CHANGE</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td><strong>Freddie Mac</strong> (OTCQB:<a class="ticker" href="/stock/FMCKN#OTCQB">FMCKN</a>)</td>
			<td>$23,759,616</td>
			<td>$213,971</td>
			<td>11,004%</td>
		</tr>
		<tr>
			<td><strong>Freddie Mac</strong> (OTCQB:<a class="ticker" href="/stock/FMCC#OTCQB">FMCC</a>)</td>
			<td>$343,034,008</td>
			<td>$54,520,692</td>
			<td>529%</td>
		</tr>
		<tr>
			<td><strong>Freddie Mac</strong> (OTCQB:<a class="ticker" href="/stock/FMCKJ#OTCQB">FMCKJ</a>)</td>
			<td>$470,164,203</td>
			<td>$133,416,829</td>
			<td>252%</td>
		</tr>
		<tr>
			<td><strong>Freddie Mac</strong> (OTCQB:<a class="ticker" href="/stock/FMCKI#OTCQB">FMCKI</a>)</td>
			<td>$16,489,145</td>
			<td>$5,073,644</td>
			<td>225%</td>
		</tr>
	</tbody>
</table>

<p>The mortgage liquidity providers, which have been under conservatorship since 2008, appear to finally be heading towards a viable long-term solution. With Mark Calabria awaiting Senate confirmation to become director of the Federal Housing Finance Agency (the agency that oversees the two companies), acting director Joseph Otting has <a href="https://www.marketwatch.com/story/fhfa-head-offers-olive-branch-to-congress-on-privatizing-fannie-mae-freddie-mac-2019-01-30">reportedly told employees and members of Congress</a> that a plan to privatize the companies is in the works.</p>

<p>The comments<a href="https://www.washingtonpost.com/outlook/2019/02/04/could-this-congress-white-house-actually-legislate-solution-fannie-mae-freddie-mac-maybe/?utm_term=.96ea73160fc8"> have some </a><a href="https://www.washingtonpost.com/outlook/2019/02/04/could-this-congress-white-house-actually-legislate-solution-fannie-mae-freddie-mac-maybe/?utm_term=.96ea73160fc8">hopeful</a> that Congress is finally heading towards a resolution. In the wake of the end of the Federal Reserve&rsquo;s quantitative easing program, finding a long-term fix for Fannie and Freddie remains the biggest unanswered question from the financial crisis. Since 2012, profits from Fannie and Freddie&mdash;<a href="https://www.wsj.com/articles/popular-hedge-fund-bet-on-fannie-and-freddie-is-paying-off-big-this-year-11548504001?mod=article_inline">roughly $292 billion</a>&mdash;have gone into the Treasury, but January&rsquo;s volume increase may indicate that the market expects that arrangement to soon end.</p>

<h3>Other Notable OTC Markets Group Trends From January</h3>

<p>As seen in prior months data, Swiss pharmaceutical giant Roche, German chemical company BASF, and French food conglomerate Danone were among the most actively traded securities on the OTCQX Best Market, the top tier of OTC Markets. Roche remains the most active security, as over $1 billion worth of shares traded hands last month. The Grayscale Bitcoin Trust and French firms BNP Paribas and AXA also maintained their ranks among the market&rsquo;s most-active names.</p>

<p>On the OTCQB Venture Market, the markets&rsquo; middle tier, cannabis companies KushCo, CV Sciences, and MariMed were each among the most actively traded securities after Fannie and Freddie. This marks the fifth month in a row that those three names were among the OTCQB Market&rsquo;s top 10 most active securities.</p>

<p>Overall, these were the top 10 most active securities traded on the OTCQX Best Market in January, according to issuer data.</p>

<table border="1" cellpadding="1" cellspacing="1" style="width:500px">
	<thead>
		<tr>
			<th scope="col">COMPANY</th>
			<th scope="col">COUNTRY</th>
			<th scope="col">JANUARY VOLUME ($)</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td><strong>Roche Holding Ltd </strong>(OTCQX:<a class="ticker" href="/stock/RHHBY#OTCQX">RHHBY</a>)</td>
			<td>Switzerland</td>
			<td>$1,079,606,596</td>
		</tr>
		<tr>
			<td><strong>Imperial Brands PLC</strong> (OTCQX:<a class="ticker" href="/stock/IMBBY#OTCQX">IMBBY</a>)</td>
			<td>United Kingdom</td>
			<td>$248,207,558</td>
		</tr>
		<tr>
			<td><strong>BASF SE </strong>(OTCQX:<a class="ticker" href="/stock/BASFY#OTCQX">BASFY</a>)</td>
			<td>Germany</td>
			<td>$222,497,371</td>
		</tr>
		<tr>
			<td><strong>Danone </strong>(OTCQX:<a class="ticker" href="/stock/DANOY#OTCQX">DANOY</a>)</td>
			<td>France</td>
			<td>$204,292,004</td>
		</tr>
		<tr>
			<td><strong>Infineon Technologies AG </strong>(OTCQX:<a class="ticker" href="/stock/IFNNY#OTCQX">IFNNY</a>)</td>
			<td>Germany</td>
			<td>$181,194,091</td>
		</tr>
		<tr>
			<td><strong>adidas AG</strong> (OTCQX:<a class="ticker" href="/stock/ADDYY#OTCQX">ADDYY</a>)</td>
			<td>Germany</td>
			<td>$169,355,902</td>
		</tr>
		<tr>
			<td><strong>Grayscale Bitcoin Trust (BTC)</strong>&nbsp;(OTCQX:<a class="ticker" href="/stock/GBTC#OTCQX">GBTC</a>)</td>
			<td>USA</td>
			<td>$161,681,343</td>
		</tr>
		<tr>
			<td><strong>AXA </strong>(OTCQX:<a class="ticker" href="/stock/AXAHY#OTCQX">AXAHY</a>)</td>
			<td>France</td>
			<td>$161,375,225</td>
		</tr>
		<tr>
			<td><strong>BNP Paribas </strong>(OTCQX:<a class="ticker" href="/stock/BNPQY#OTCQX">BNPQY</a>)</td>
			<td>France</td>
			<td>$146,710,509</td>
		</tr>
		<tr>
			<td><strong>Kingfisher plc</strong> (OTCQX:<a class="ticker" href="/stock/KGFHY#OTCQX">KGFHY</a>)</td>
			<td>United Kingdom</td>
			<td>$103,039,853</td>
		</tr>
	</tbody>
</table>

<p>And here are January&rsquo;s top 10 most active securities traded on the OTCQB Venture Market.</p>

<table border="1" cellpadding="1" cellspacing="1" style="width:500px">
	<thead>
		<tr>
			<th scope="col">COMPANY</th>
			<th scope="col">COUNTRY</th>
			<th scope="col">JANUARY VOLUME ($)</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMA#OTCQB">FNMA</a>)</td>
			<td>USA</td>
			<td>$828,721,292</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMAS#OTCQB">FNMAS</a>)</td>
			<td>USA</td>
			<td>$619,571,945</td>
		</tr>
		<tr>
			<td><strong>Freddie Mac</strong> (OTCQB:<a class="ticker" href="/stock/FMCKJ#OTCQB">FMCKJ</a>)</td>
			<td>USA</td>
			<td>$470,164,203</td>
		</tr>
		<tr>
			<td><strong>Freddie Mac</strong> (OTCQB:<a class="ticker" href="/stock/FMCC#OTCQB">FMCC</a>)</td>
			<td>USA</td>
			<td>$343,034,008</td>
		</tr>
		<tr>
			<td><strong>KushCo</strong><strong> Holdings, Inc. </strong>(OTCQB:<a class="ticker" href="/stock/KSHB#OTCQB">KSHB</a>)</td>
			<td>USA</td>
			<td>$174,152,341</td>
		</tr>
		<tr>
			<td><strong>CV Sciences, Inc.</strong> (OTCQB:<a class="ticker" href="/stock/CVSI#OTCQB">CVSI</a>)</td>
			<td>USA</td>
			<td>$104,212,212</td>
		</tr>
		<tr>
			<td><strong>MariMed Inc.</strong> (OTCQB:<a class="ticker" href="/stock/MRMD#OTCQB">MRMD</a>)</td>
			<td>USA</td>
			<td>$60,554,338</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae</strong> (OTCQB:<a class="ticker" href="/stock/FNMFO#OTCQB">FNMFO</a>)</td>
			<td>USA</td>
			<td>$41,523,292</td>
		</tr>
		<tr>
			<td><strong>MPM Holdings Inc.</strong> (OTCQB:<a class="ticker" href="/stock/MPMQ#OTCQB">MPMQ</a>)</td>
			<td>USA</td>
			<td>$30,914,437</td>
		</tr>
		<tr>
			<td><strong>Fannie Mae </strong>(OTCQB:<a class="ticker" href="/stock/FNMFN#OTCQB">FNMFN</a>)</td>
			<td>USA</td>
			<td>$29,382,633</td>
		</tr>
	</tbody>
</table>

<p><em>OTC Markets is a content partner of Benzinga</em></p>


<p><strong>Federal National Mortgage Association</strong> (OTC:<a class="ticker" href="/stock/FNMA#OTC">FNMA</a>) and <strong>Federal Home Loan Mortgage Corp</strong> (OTC:<a class="ticker" href="/stock/FMCC#OTC">FMCC</a>) investors got some good news this week when the Treasury Department and the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will be allowed to retain $3 billion of income each in Q4 to start building up a capital cushion.</p>
<p>Now that capital retention is confirmed, Height Securities analyst Edwin Groshans says potential upside for Fannie and Freddie investors hinges on the details of the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/11/10852891/fannie-and-freddie-watch-the-latest-news-out-of-washing">housing finance</a> reform bill that is expected out <a href="https://www.housingwire.com/blogs/1-rewired/post/41888-housings-biggest-questions-going-into-2018">in January</a>.</p>
<h3>
	<strong>Devil&#39;s In The Details</strong></h3>
<p>&ldquo;GSE capital retention and a legislative vehicle that leads to privatization are positive developments for Fannie Mae and Freddie Mac; however, the potential upside for junior preferred shareholders will be determined by the value allocated to the class in the transition plan, which we expect Treasury and FHFA to develop,&rdquo; Groshans wrote Friday.</p>
<p>He recently sat down and crunched the numbers on how much upside Fannie and Freddie junior preferred shares could deliver if they&#39;re converted to common shares at par value of $50 and $25 at conversion rates of 100 percent, 75 percent and 50 percent.</p>
<h3>
	<strong>Path To Upside</strong></h3>
<p>To arrive at his estimates, Groshans divided the par value of the preferred shares by the closing price of the common shares as of Dec. 21 ($2.83 for Fannie Mae and $2.67 for Freddie Mac). Groshans then estimated that the value of those common shares will decline by 35 percent after the conversion process.</p>
<p>If the preferred shares are converted at a 100 percent rate, Height estimates 130 percent average upside for Freddie preferred shares and 117 percent average upside for Fannie preferred shares. Even at a 50 percent conversion rate, Groshans sees an average of 15 percent upside for Feddie preferreds and 8 percent upside for Fannie preferreds.</p>
<h3>
	<strong>How To Play It</strong></h3>
<p>Groshans sees the most potential upside for Freddie Mac variable rate series B, G, L, M, and N preferred shares, which he estimates could each more than triple in value if converted at a 100 percent rate. Among Fannie Mae preferred shares, Groshans estimates the most potential upside (at least 160 percent) for series E, M, and G shares.</p>
<p>Here is a rundown of the tickers of the junior preferred shares mentioned above:</p>
<ul>
	<li>
		<strong>FED HOME LOAN MTG</strong> (OTC:<a class="ticker" href="/stock/FMCCI#OTC">FMCCI</a>)</li>
	<li>
		<strong>FED HOME LOAN MTG</strong> (OTC:<a class="ticker" href="/stock/FMCCG#OTC">FMCCG</a>)</li>
	<li>
		<strong>FED HOME LOAN MTG</strong> (OTC:<a class="ticker" href="/stock/FMCCL#OTC">FMCCL</a>)</li>
	<li>
		<strong>FED HOME LOAN MTG</strong> (OTC:<a class="ticker" href="/stock/FMCCM#OTC">FMCCM</a>)</li>
	<li>
		<strong>FED HOME LOAN MTG</strong> (OTC:<a class="ticker" href="/stock/FMCCN#OTC">FMCCN</a>)</li>
	<li>
		<strong>FED NATL MORT ASSC </strong>(OTC:<a class="ticker" href="/stock/FNMFM#OTC">FNMFM</a>)</li>
	<li>
		<strong>FED NATL MORT ASSC </strong>(OTC:<a class="ticker" href="/stock/FNMAL#OTC">FNMAL</a>)</li>
	<li>
		<strong>FED NATL MORT ASSC</strong> (OTC:<a class="ticker" href="/stock/FNMAO#OTC">FNMAO</a>)</li>
</ul>
<p><em>Related Links:</em></p>
<p><em><a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/12/10945568/a-sea-change-underway-fannie-mae-freddie-mac-to-retain-">&#39;A Sea Change Underway&#39;: Fannie Mae, Freddie Mac To Retain Capital Again</a></em></p>
<p><em><a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/12/10886250/why-fannie-and-freddie-have-a-path-to-survival">Why Fannie And Freddie Have A Path To Survival</a></em></p>
<p><em>Image Credit: Carol M. Highsmith [Public domain], via <a href="https://commons.wikimedia.org/wiki/File:Federal_National_Mortgage_Association,_or_%22Fannie_Mae,%22_headquarters_building_in_Washington,_D.C_LCCN2011632166.tif">Wikimedia Commons</a></em></p>


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