Fannie Mae (FNMA)

[obiterdictum]

I think Rosner is wrong here: The stock price requirements for NYSE listing are not $4 a share, as he says. According to an official NYSE document the minimum price can even be $2 a share, see Standard 3:
https://www.nyse.com/publicdocs/nyse/listing/NYSE_MKT_Listing_Standards.pdf
Therefore, there is no need for a reverse split.

It would be best if you call the NYSE to clarify this.

The link provided is not to the NYSE (New York Stock Exchange) initial listing chart. That link refers to the NYSE American LLC, formerly known as the American Stock Exchange (AMEX) and NYSE MKT.

The NYSE initial listing chart is found here:
https://www.nyse.com/publicdocs/nyse/listing/NYSE_Initial_Listing_Standards_Summary.pdf

The New York Stock Exchange (NYSE) Manual is found here:
https://bit.ly/2mdn8ji