Federal National Mortgage Association is trading about 5% down at $6.31 following a sharp decline tied to new multifamily resecuritization rules.
- The move follows the announcement that bulk deliveries are now eligible for resecuritization, alongside additional requirements for multifamily transactions.
- Investors appear to be treating the update as a negative for the future economics or complexity of the company's securitizations.
- The downward pressure continues a trend from the previous session as the market digests the implications of the new policy requirements.