FNMA and FMCC Will EACH Have $3 Billion Cash On December 31st.
Do the math on how much Fannie & Freddie are worth today based on $3B in cash with approximately 1200M and 600M shares outstanding.
I am thinking that not a lot of people are actually aware that they are worth minimum $5 share without even applying a PE multiple.
Industry average for mortgage companies currently at 22 PE.
DO THE MATH PEOPLE. SIMPLE!