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Fannie Mae Announces Another Redemption

WASHINGTON, DC-Fannie Mae officials plan to redeem a $10 million security on March 16 with an interest rate of 8.25%. The security had been slated for maturity in 2015.

By Wendy Watkins | Updated on March 07, 2001

WASHINGTON, DC-Fannie Mae has announced it will redeem a $10 million security on March 16, for the principal amount plus any interest accrued as of the date of redemption. The security, classified as type UUFI, has a CUSIP number of 31364KJY7 and had been set to mature on March 16, 2015, carrying an 8.25% interest rate. Fannie Mae officials say they redeem securities on an as-needed basis, when the market indicates it is most advantageous to them.

Fannie Mae is a publicly traded on the New York Stock Exchange and is the largest non-bank financial services company in the world. Operating under a federal charter, it is the nation’s largest source of financing for home mortgages. Company officials say they are working to shrink the nation’s “homeownership gaps” through a $2 trillion “American Dream Commitment” to increase homeownership rates and serve 18 million targeted American families by the end of the decade. Since 1968, Fannie Mae has provided $3 trillion of mortgage financing for more than 37 million families.

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