Volume Spike Investor

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) may have traded lower anyway with the markets, but the Mortgage Bankers Association is calling for Congress to effectively breakup the mortgage GSEs.  While the MBA is non-governmental, this is just another reminder of ‘no remaining value’ in the stocks.  At 8:28 AM EST we have seen a drop of 8% to $1.46 on 3.6 million shares in Fannie Mae.  At the same time, Freddie Mac is down over 7% at $1.75 on 1.7 million shares.  The mayhem continues. -JON C. OGG