DALLAS, May 12, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Fannie Mae (NYSE:FNM). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/ads/FNM
Federal National Mortgage Assoc. (Fannie Mae) (FNM) is a government-sponsored enterprise (GSE) chartered by the U.S. Congress to support liquidity and stability in the secondary mortgage market, where mortgage related assets are purchased and sold. The Company's activities include providing market liquidity by securitizing mortgage loans originated by lenders in the primary mortgage market into Fannie Mae mortgage-backed securities (Fannie Mae MBS), and purchasing mortgage loans and mortgage-related securities in the secondary market for its mortgage portfolio. It also acquires funds to purchase mortgage-related assets for its mortgage portfolio by issuing a variety of debt securities in the domestic and international capital markets.
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In the report, the analyst notes:
"FNM recently asked for an additional $8.4 billion in government aid after losing $11.5 billion in the first quarter of 2010. The Company's quarterly losses would have been worse if not for accounting changes as well as unrealized gains on available-for-sale securities that accounted for a $3.3 billion reduction in its deficit. As a result of this draw, the Company stated that the aggregate liquidation preference of the senior preferred stock increased from $60.9 billion to $76.2 billion as of March 31, 2010, and will increase to $84.6 billion upon the receipt of funds from the Treasury to eliminate its first-quarter 2010 net worth deficit."
"'Due to current trends in the housing and financial markets, we continue to expect to have a net worth deficit in future periods, and therefore will be required to obtain additional funding from Treasury pursuant to the senior preferred stock purchase agreement,' the Company said in its release."
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