Why is Ferronordic Machines stock surging today?

Federal Housing Finance Agency Director Bill Pulte ordered Fannie Mae and Freddie Mac to allow all lenders to use VantageScore, a move aimed at increasing competition in the credit scoring market. FICO, which has long dominated the market, saw its shares fall in April after the initial announcement. Pulte also criticized credit bureaus Equifax, Experian, and TransUnion for overcharging consumers.

Fannie Mae raised its long-term mortgage rate forecast, now expecting rates to average 6.8% by 2027, up from 6.3%. This led to a reduction in single-family origination projections to $2.17 trillion. Refinance volume fell to 25% but is expected to rise to 34% by Q4. Fannie also adjusted housing start and sales forecasts, with existing home sales estimated at 4.11 million units in 2026, down from 4.13 million.

Fannie Mae reported Q2 metrics on its earnings call, including 77% weighted average original loan-to-value and 756 average FICO for single-family acquisitions. Multifamily new business volume was $14B and guaranty book $545B; net income rose 29% to $704M. The company increased total allowance for credit losses by $161M and issued $25B of debt.

Fannie Mae reported $4.0B net income for Q2 2026, with net revenues up 4% to $7.6B and net worth rising to $116.5B, according to its SEC filing. Single-family acquisition volume reached $111.2B, the highest since Q3 2022, supported by $125B liquidity and 417,000 home purchases and refinances. First-time buyers were 55% of purchase loans.

Fannie Mae reported Q2 net income of $4.0B. Net revenue rose 4% to $7.6B, helped by higher net interest income and deferred guaranty fee income, plus lower expenses. Credit loss provision increased to $485M from $277M. Single-family net income rose to $3.3B; multifamily net income rose 29% to $704M. Fannie Mae said multifamily delinquencies may rise.

Fannie Mae reported second-quarter net income of $4.0 billion, up from $3.7 billion in the prior quarter, with net revenues rising to $7.6 billion. Credit loss provisions and negative fair value changes totaled $561 million, offset by higher interest income and gains. Fannie acquired $111 billion in single-family mortgages, and net worth was $116.5 billion.