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Abolishment of Fannie and Freddie in the offing
Malaysia Sun
Sunday 20th June, 2010
The Federal National Mortgage Association, otherwise known as Fannie Mae, has told the New York stock exchange it intends to delist.
The company will delist common and preferred stock due to low prices.
Fannie Mae said the move had been prompted by the New York Stock Exchange, which had informed the mortgage company that it no longer met minimum standards on prices to maintain a presence on the exchange.
The Federal Home Loan Mortgage Corp, or Freddie Mac, was also ordered off of stock listings.
Shares of both mortgage giants fell on Friday, compounded by the delist news and Congressional Budget Office estimates that show $400 billion will be needed to keep the companies going.
Malaysia Sun
Sunday 20th June, 2010
The Federal National Mortgage Association, otherwise known as Fannie Mae, has told the New York stock exchange it intends to delist.
The company will delist common and preferred stock due to low prices.
Fannie Mae said the move had been prompted by the New York Stock Exchange, which had informed the mortgage company that it no longer met minimum standards on prices to maintain a presence on the exchange.
The Federal Home Loan Mortgage Corp, or Freddie Mac, was also ordered off of stock listings.
Shares of both mortgage giants fell on Friday, compounded by the delist news and Congressional Budget Office estimates that show $400 billion will be needed to keep the companies going.
