Federal National Mortgage Association OTCPK:FNMA Stock Report

Federal National Mortgage Association Announces Executive Changes

Fannie Mae Announces Resignation of Kimberly H. Johnson as Executive Vice President and Chief Operating Officer, Effective April 25, 2022

Fannie Mae (formally, the Federal National Mortgage Association) announced on March 25, 2022 that Kimberly H. Johnson, Executive Vice President and Chief Operating Officer of company, notified Fannie Mae that she is resigning from her position effective April 25, 2022.

Federal National Mortgage Association Appoints Sharifa A. Anderson as Senior Vice President and Chief Diversity and Inclusion Officer

Fannie Mae announced it has appointed Sharifa A. Anderson as Senior Vice President and Chief Diversity and Inclusion (D&I) Officer, effective February 28, 2022. Anderson will be a member of Fannie Mae's Management Committee and serve as the company's first Chief D&I Officer in this newly created role. The role signifies Fannie Mae's sustained commitment to promoting supplier diversity, enabling opportunities for minority- and women-owned firms in capital markets, and fostering an accessible, inclusive workplace that attracts, develops, and retains diverse talent. Anderson most recently served as the Chief Diversity and Inclusion Officer at Federal Home Loan Bank of Pittsburgh.Prior to Federal Home Loan Bank of Pittsburgh, Anderson worked as an attorney at Relman Colfax in Fair Lending Counseling and Compliance, at Ballard Spahr in Public Finance and Housing, and in the U.S. Department of Housing and Urban Development in the Office of General Counsel, Finance Division.

Federal National Mortgage Association to Report Q4, 2021 Results on Feb 15, 2022

Federal National Mortgage Association announced that they will report Q4, 2021 results Pre-Market on Feb 15, 2022

Fannie Mae Introduces New Underwriting Innovation To Help More Renters Become Homeowners

Fannie Mae announced the company will launch a new feature in its automated underwriting system to incorporate consumers' rent payments in the mortgage credit evaluation process. Beginning September 18, 2021, Fannie Mae's Desktop Underwriter (DU) will enable single-family lenders – with permission from mortgage applicants – to automatically identify recurring rent payments in the applicant's bank statement data to deliver a more inclusive credit assessment. For qualified renters who may have limited credit history but a strong rent payment history, Fannie Mae's DU enhancement creates new opportunities for homeownership while promoting safe and sound lending. The new update to DU is a positive change for eligibility – only consistent rent payments will be considered to improve eligibility. Any records of missed or inconsistent rent payments identified in the bank statement data will not negatively affect the applicant's ability to qualify for a loan sold to Fannie Mae. Rent payments that appear in the payment history of the borrower's bank account data can be identified, whether made via check or electronically, such as via a company's payment portal or other digital payment solution. Credit history is a key element in evaluating a borrower's ability to make a mortgage payment, but fewer than 5% of renters have their rent payments reported on their credit bureau report, putting many prospective first-time homebuyers at a disadvantage. Approximately 20% of the U.S. population overall has little established credit history – a group in which Black and Hispanic consumers are disproportionately represented. Additionally, Fannie Mae'sNational Housing Survey® found that Black consumers identify insufficient credit score or credit history as their single biggest obstacle to getting a mortgage and do so at a much higher rate compared to white consumers (29% to 18%). According to Fannie Mae research, lenders factoring in first-time homebuyers' history of consistent rent payments is one significant difference between applicants qualifying and not qualifying for a mortgage. In a recent sample of mortgage applicants who had not owned a home in the past three years and did not receive a favorable recommendation through Desktop Underwriter, 17% could have received an Approve/Eligible recommendation if their rental payment history had been considered.