NEW YORK, April 23, 2015 /PRNewswire/ -- Federal National Mortgage Association (OTCBB: FNMA) a government-sponsored enterprise (GSE) chartered by the United States Congress to support liquidity and stability in the secondary mortgage market, has been under pressure as a result of a weakening US housing market. Recent statistics have shown that the US housing may have be starting its recovery given that house resales rose 6.1% to an 18 – month high in March. The market is however quite dependent on the direction of interest rates. The Federal Reserve has hinted at raising these rates; however no action has been taken yet. The next meeting will be in June.
About the Federal National Mortgage Association
Fannie Mae operates in three business segments: Single-Family business, Multifamily Business (formerly Housing and Community Development (HCD)) and Capital Markets group. 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.
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BrokerBank Securities, Inc. is a member of the Financial Industry Regulatory Authority, CRD number #130116.
SOURCE BrokerBank Securities, Inc.