Description Federal National Mortgage Association (Fannie Mae) is a government-sponsored enterprise chartered by the Congress. The Company supports liquidity and stability in the secondary mortgage market where mortgage related assets are purchased and sold. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage backed securities (Fannie Mae MBS) and purchasing mortgage loans and mortgage-related securities, primarily for securitization and sale later. Fannie Mae operates in three business segments: Single-Family Credit Guaranty, Multifamily and Capital Markets. Its Single-Family Credit Guaranty and Multifamily businesses work with its lender customers to purchase and securitize mortgage loans customers deliver to the Company into Fannie Mae MBS. It obtains funds to support business activities by issuing a range of debt securities in various capital markets. It conducts business in the United States residential mortgage market and the global securities market.
FNMA trying to get back into the $2 range which has been tough to hold. Watching this move here to see if buyers will keep the pressure on.
Fannie Mae Reminds Homeowners and Servicers of Mortgage Assistance Options for Atlantic Coastal Areas Impacted by Hurricane Matthew https://finance.yahoo.com/news/fannie-mae-reminds-homeowners-servicers-135900899.html
Pretty serious buying volume today. The stock needs to get over those $2.50 highs from June and I think this has some room to fly!
Holding up pretty well still! That was serious volume on Friday, if we do not see a pullback lower today, this may still have more to go!
That resistance from last week is still the level to watch for, but some pull back to $2.40 in the cards to load up again?