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Federal National Mortgage Association (FNMA) Q4 2025 Earnings Call Prepared Remarks Transcript
Federal National Mortgage Association (OTCQB:FNMA) Q3 2025 Earnings Call October 29, 2025 8:00 AM EDT Company Participants Terence O'Hara - Director of Enterprise Communications Chryssa Halley - Executive VP & CFO Presentation Operator Good day, and welcome to the Fannie Mae Third Quarter 2025 Financial Results Webcast. At this time, I will now turn it over to your host, Terence O'Hara, Fannie Mae's Director of Enterprise Communications.
Fannie Mae and Freddie Mac, despite record net worths, remain in conservatorship with Trump expected to push for privatization and restructuring through incoming Treasury Secretary Scott Bessent. Bill Ackman argues common shares are undervalued, but preferred shares offer anti-dilution protection; I favor preferred shares due to uncertainty. Bessent's and Pulte's confirmation sets the stage for an equity restructuring, impacting common and junior preferred shareholders.
Donald Trump's 2024 win should boost stocks like GEO Group, CoreCivic, Target Hospitality, Affirm, Federal National Mortgage Association, and Bitcoin pre-market. GEO Group and CoreCivic benefit from Trump's policies, with potential gains similar to post-2016 election performances. Target Hospitality could see increased demand for facilities due to stricter immigration policies and more drilling activity.