FNMAS Stock Price: A Guide to Fannie Mae Preferred Series S
The FNMAS stock price represents the market valuation of the Federal National Mortgage Association (Fannie Mae) 8.25% Non-Cumulative Preferred Stock, Series S. Unlike common equity, FNMAS is a specific class of preferred shares that offers a glimpse into the complex world of Government-Sponsored Enterprise (GSE) reform and distressed asset trading.
What is FNMAS?
FNMAS is the ticker symbol for one of the most liquid preferred share series issued by Fannie Mae. As of 2024, these shares trade on the OTCQB (Over-the-Counter) markets. Fannie Mae is a pillar of the U.S. housing finance system, but since the 2008 financial crisis, it has operated under the conservatorship of the Federal Housing Finance Agency (FHFA).
The Series S preferred stock was originally issued with a fixed dividend rate of 8.25%. However, because it is "non-cumulative," the company is not legaly obligated to pay missed dividends to shareholders. Since the implementation of the "Net Worth Sweep" in 2012, dividend payments on FNMAS have been suspended, causing the stock to trade at a significant discount to its par value.
Factors Influencing the FNMAS Stock Price
Tracking the FNMAS stock price requires an understanding of legal and political developments rather than traditional corporate earnings. Key drivers include:
- Legal Rulings: Major court cases, such as those involving Fairholme Funds or Pershing Square, impact investor sentiment. Decisions regarding the legality of the government’s retention of Fannie Mae’s profits often lead to sharp price volatility.
- Regulatory Policy: Statements from the Treasury Department or the FHFA regarding the "re-privatization" of Fannie Mae can cause the stock price to surge or drop.
- Liquidation Preference: Investors often compare the current market price to the share's liquidation preference (typically $25 or $50), speculating on a potential payout if the conservatorship ends.
Market Performance and Metrics
According to data from OTC Markets and Yahoo Finance, the FNMAS stock price often exhibits low liquidity compared to NYSE-listed stocks. As of late 2023 and early 2024, the stock has traded in a "distressed" range, often fluctuating based on the perceived probability of the GSEs exiting government control. High trading volume typically coincides with Supreme Court updates or legislative proposals related to housing finance reform.
Risks of Investing in FNMAS
While the potential for high returns exists, the risks associated with FNMAS are substantial:
- Dilution Risk: Any plan to exit conservatorship might involve issuing massive amounts of new common stock, which could impact the value of existing preferred shares.
- Zero Value Potential: There is a possibility that the government could cancel these shares entirely during a restructuring.
- No Dividends: Currently, there is no timeline for the resumption of the 8.25% dividend yield.
Diversifying Beyond Traditional Equities
The volatility seen in symbols like FNMAS highlights the importance of a diversified portfolio. Many investors who follow high-risk, high-reward assets are also exploring the digital asset space. While FNMAS is tied to traditional housing finance, platforms like Bitget allow users to explore the growing world of cryptocurrencies and blockchain technology.
If you are looking to hedge against traditional market risks or explore assets with high liquidity and 24/7 trading, Bitget provides a secure environment for trading Bitcoin, Ethereum, and other emerging tokens. Much like the speculative nature of GSE stocks, the crypto market offers various opportunities for informed participants to manage their wealth in the Web3 era.
Future Outlook for Fannie Mae Series S
The long-term trajectory of the FNMAS stock price remains tied to Washington D.C. Whether through a legislative overhaul or a court-ordered settlement, the resolution of Fannie Mae’s conservatorship is the only catalyst that could return FNMAS to its par value. Until then, it remains a highly speculative instrument for those tracking the intersection of finance and law.
For those interested in exploring modern financial alternatives, consider visiting Bitget to learn how decentralized finance is reshaping the global economy.


















