DALLAS, Oct. 5, 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. The Single-Family Credit Guaranty segment securitizes single-family mortgage loans into Fannie Mae mortgage-backed securities (MBS) and facilitates the purchase of single-family mortgage loans for the Company's mortgage portfolio.
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In the report, the analyst notes:
"FNMA recently reported a net loss of $1.2 billion in the second quarter of 2010, compared to a net loss of $11.5 billion in the first quarter of the year. During the quarter, loans from FNMA's 2009-2010 book of business continued to perform solidly while credit-related expenses on the overall book of business decreased by more than $7 billion.
"FNMA recently announced that it plans to sell $500 million of three-month benchmark bills due Jan. 5, 2011, and $500 million of six-month bills due April 6, 2011, on Wednesday in a Dutch auction. In such uniform price auctions, successful bidders pay only the price of the lowest accepted bid rather than the actual price as in a conventional multiple-price auction. Bids will be accepted from authorized dealers from 9:00 a.m. (1300 GMT) until 9:45 a.m."
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