DALLAS, Sept. 7, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Federal National Mortgage Association (OTCBB:FNMA). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Federal National Mortgage Association (FNMA), also known as "Fannie Mae," is a government-sponsored enterprise (GSE) chartered by the U.S. Congress to support liquidity and stability in the secondary mortgage market, where mortgage loans are purchased and sold. The Company participates in the secondary mortgage market by purchasing mortgage loans and mortgage-related securities for its mortgage portfolio. It also makes other investments that increase the supply of affordable housing. The Company is organized in three business segments: Single-Family Credit Guaranty, Housing and Community Development (HCD) and Capital Markets.
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In the report, the analyst notes:
"FNMA reported a net loss of $11.5 billion in the first quarter of 2010, compared with a net loss of $15.2 billion in the fourth quarter of 2009. Including $1.5 billion of dividends on senior preferred stock held by the U.S. Department of Treasury, the net loss attributable to common stockholders was $13.1 billion, or ($2.29) per diluted share, compared with a loss of $16.3 billion, or ($2.87) per diluted share, in the fourth quarter of 2009.
"U.S. mortgage rates dropped to a record, the 11th straight week of matching or setting a new low, reducing borrowing costs for homebuyers as demand slumps. The average rate for a 30-year fixed mortgage fell to 4.32% in the week ended today from 4.36%, Freddie Mac said last week. That was the lowest since the McLean, Virginia-based company began compiling the data in 1971. The average 15-year rate was 3.83%, also a record."
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