A new research report released during the Republican National Convention blames the Bush administration for the lackluster performance of Fannie Mae's stock price.The Bernstein Research report notes that over the past five years Fannie's earnings have grown 18%, versus 4% for the Standard & Poor's 500, "yet its share price is virtually unchanged." The report says, "This disappointing investment performance in the face of stellar fundamental results has been due to the Bush administration's advocacy of policies which would restrict the GSEs' growth." Penned by analysts Jonathan Gray and Adam Weinrich, the report predicts that if Sen. John Kerry, D-Mass., becomes president there could be a "surge" in Fannie's share price. Recent polls show the election is a virtual dead heat.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
6h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
10h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24