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Fannie and Freddie Shares Jump 7%

Submitted by WSN_Staff on Tue, 06/22/2010 - 10:33.
in
Freddie (NYSE:FRE) and Fannie (NYSE:FNM)

Shares of Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) are up 7% today after taking a massive beating last week.  Today Freddie shares are at 50 cents and Fannie are at 44 cents.

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Last week Fannie Mae (FNM) and Freddie Mac (FRE), the largest residential mortgage lenders in the US, will have the trading of their shares stopped (de-listed) on the New York Stock Exchange (NYSE). The firms shares failed to meet the minimum trading price requirement, the Federal Housing Finance Agency (FHFA) said on Wednesday.

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The de-listing announcement of Fannie and Freddie did not come as a surprise to market analysts. Analysts estimate that the government, which now owns 80% of Fannie Mae and Freddie Mac, could run up a bill as high as $1 trillion to fix the two companies.

CHARTS

FNM

FRE

 

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