The Real Deal Miami

Fannie, Freddie ordered to delist from NYSE

June 16, 2010 01:30PM

Government-sponsored mortgage giants Fannie Mae and Freddie Mac have been ordered by their regulator, the Federal Housing Finance Agency, to delist their shares from the New York Stock Exchange after Fannie’s stock price fell below the required minimum of $1 per share, according to the Associated Press. Shares of Fannie, which closed at 92 cents yesterday, have been below the $1 threshold for 30 trading days. Freddie’s shares closed at $1.22 yesterday. “FHFA’s determination to direct each company to delist does not constitute any reflection on either enterprise’s current performance or future direction, nor does delisting imply any other findings or determination on the part of FHFA as regulator or conservator,” said Edward DeMarco, acting director of the agency. [AP via Crain’s]