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Stock Market & Financial Investment News

News Breaks
March 31, 2014
11:00 EDTFNMAAckman increases economic exposure to Fannie Mae to 11.31%
Bill Ackman's Pershing Square Capital confirmed in a regulatory filing that as of March 31 the fund and affiliates beneficially owned an aggregate of 115,569,796 shares of the common stock of Federal National Mortgage Association, or Fannie Mae, representing approximately 9.98% of its outstanding common stock. Pershing also has additional economic exposure to approximately 15,434,715 notional shares of common stock under certain cash-settled total return swaps, bringing total aggregate economic exposure to 131,004,511 shares of common stock, or approximately 11.31% of the outstanding common stock.
News For FNMA From The Last 14 Days
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October 24, 2014
18:52 EDTFNMAFannie Mae reaches shareholder lawsuit settlement for $170M, Reuters reports
Fannie Mae has settled a shareholder lawsuit for $170M, Reuters reports. The settlement will pay $123.8M to common stockholders and $46.2M to preferred stockholders between November 8, 2006, and September 5, 2008, Reuters added. The lawsuit accused Fannie Mae of defrauding its shareholders and pumping its stock by issuing false and misleading statements during the 2008 financial crisis. Reference Link
October 20, 2014
15:08 EDTFNMAHousing regulator reveals plan to ease tight credit, NY Times says
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13:40 EDTFNMAFannie Mae appoints Brian Brooks general counsel
Fannie Mae announced it has appointed Brian P. Brooks as EVP, general counsel, and corporate secretary effective November 10. Brooks joins Fannie Mae from OneWest Bank where he was vice chairman and chief legal officer. Reference Link
October 19, 2014
16:17 EDTFNMAFannie Mae, Freddie Mac near deal to loosen lending, WSJ says
Fannie Mae (FNMA), Freddie Mac (FMCC) together with mortgage lenders are near to an arrangement that would lower barriers and lending standards on home buyers with weak credit, says the Wall Street Journal. Reference Link
October 17, 2014
12:26 EDTFNMAFannie Mae, Freddie Mac close to deal to boost mortgage lending, WSJ reports
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