Gallagher & Associates Team

Gallagher & Associates Team

Sunday, July 4, 2010

Fannie Mae Delisted from NYSE

Fannie Mae Delisted from NYSE

Federal regulators' decision week to remove shares of Fannie Mae (FNM) and Freddie Mac (FRE) from the New York Stock Exchange marks a fundamental change for the two mortgage agencies now operating under conservatorship.
The conservator, the Federal Housing Finance Agency, said the move was a result of both companies trading around $1 for more than 30 days. Freddie was recently down 40% at 73 cents, while Fannie traded 38% lower at 57 cents.

The government took over the nominally independent mortgage finance companies at the height of the credit crisis in September 2008. Since then, while many plans for reform and restructuring have been discussed, there is no clear plan on how to get them out of government protection.

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