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Article: Fannie Mae May Be the Best Investment You Never Heard Of.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 13, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Sep. 12 -- Its product is debt, the bulk of its customers are low and middle income, and many of us do business with it and don't even know it. The formula could spell disaster for another company, but not for Fannie Mae.
The nation's largest source of financing for home mortgages outperformed most other companies on the S&P 500 index last year, when it earned a record $3.4 billion, its 12th straight year of record profits. It's on pace to have another record year this year.
Of 21 analysts covering Fannie Mae, formally the Federal National Mortgage Association, 12 rate it a strong buy, and 7 call it a moderate ...