Shares of mortgage-finance giants, Fannie Mae and Freddie Mac will be again seen hovering on the over-the-counter market from today, as said by both firms. The new symbol of Freddie is FMCC, under which it’ll trade, and FNMA is the symbol of Fannie.
 
Prior to the opening of the market today, the trading of regular and favored stocks of Fannie were planned to be suspended by The New York and Chicago stock exchanges (NYSE), along with delisting of Freddie's stock, as well. The shares of Fannie Mae had dropped below $1 share-price verge that had been sustained by NYSE Euronext.
 
Therefore, Government was officially notified that Fannie Mae does not meet the listing standards now. Subsequently, the two companies were ordered to delist their shares from NYSE by their federal regulator in the previous month.
 
The Federal Housing Finance Agency is the regulator of these companies, who, after all this, voluntarily chose to delist the stocks, rather than again making efforts to hoist them back above $1. Also, it wasn’t sure if any further plans will be successful or not.
 
The shares of Fannie have achieved 5.7% to 26 cents in the later hours of trading, whereas, the shares of Freddie have lowered down by 8.8% to 31 cents.