<h2>HomeReady 贷款审核变更引发关注</h2>
<p>最近，联邦国民抵押协会（OTCPK:FNMA）的 HomeReady 计划进行了贷款审核变更，现在允许借款人将已记录的室友或伴侣租金计入合格收入，这在高利率市场中引起了对该股票的新关注。</p>
<p>查看我们对联邦国民抵押协会的最新分析。</p>
<p>在这种背景下，联邦国民抵押协会的股价在短期内承压，30 天股价回报下跌了 5.39%，年初至今股价回报下跌了 29%。与此同时，1 年总股东回报为 13.52%，3 年总股东回报非常可观，这表明长期动能强劲，而近期对 HomeReady 变更的情绪有所降温。</p>
<p>如果这个 HomeReady 更新让你重新思考住房和融资趋势可能走向何方，现在可能是扩大搜索范围、查看 18 家顶尖创始人领导公司的好时机。</p>
<p>因此，联邦国民抵押协会的交易价格为 7.81 美元，而分析师的目标价格约为 12.08 美元，价值评分为 5，市场是否忽视了这里的上行空间，还是已经将未来的增长计入价格？</p>
<h2>最受欢迎的叙述：61% 被低估</h2>
<p>联邦国民抵押协会最近收盘价为 7.81 美元，而叙述的公允价值为 20.00 美元，最受关注的论点与市场呈现出截然不同的图景。</p>
<blockquote>
<p><em>联邦国民抵押协会的假设看涨目标价格为 20.0 美元，代表着比共识目标价格 12.08 美元高出最多两个标准差。这个估值基于可以假设的联邦国民抵押协会未来收益增长、利润率和其他风险因素的预期，这些来自于看涨分析师的观点。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>想看看即使预测指向较弱的收益和持平的利润率，是什么支撑了更高的公允价值吗？这个叙述依赖于特定的收入增长假设、股本变化和许多投资者通常与快速增长行业相关联的未来收益倍数。</p>
<p><strong>结果：公允价值为 20 美元（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，这种看涨的局面仍然依赖于多户住宅贷款的信用成本保持在可控范围内，以及投资组合增长不会引发更大的资本或融资压力。</p>
<p>了解联邦国民抵押协会叙述的关键风险。</p>
<h2>下一步</h2>
<p>在风险与收益明显分歧的情况下，现在是及时采取行动、直接审查基础数据并评估两种观点的适当时机，重点关注 3 个关键收益和 3 个重要警示信号。</p>
<h2>寻找更多投资想法？</h2>
<p>如果你只关注一只股票，你可能会错过其他更符合你目标的机会。通过有针对性的筛选器扩大你的视野。</p>
<ul>
<li>通过查看 51 只在质量和定价上都突出的高质量被低估股票，锁定更强的价值候选。</li>
<li>通过筛选 66 只低风险、在稳定性和下行保护上表现良好的抗风险股票，优先考虑韧性。</li>
<li>通过扫描包含 21 只高质量尚未被大多数投资者关注的潜力股的筛选器，抢先一步。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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房利美

DABS

房地产投资信托股 ETF - iShares

<p>房利美最近的 HomeReady 承保变更允许借款人将室友或伴侣的租金计入合格收入，这在高利率市场中影响了其股票。该股票在过去 30 天内下跌了 5.39%，年初至今下跌了 29%，尽管过去一年总回报为 13.52%。分析师认为该股票被低估，目标价为 12.08 美元，而一些估计甚至达到 20.00 美元，表明如果信贷成本保持稳定，仍有上涨潜力</p>

<h2>HomeReady underwriting change puts program in focus</h2>
<div class="lb-trans"><h2>HomeReady 贷款审核变更引发关注</h2>
</div><p>A recent underwriting change to Federal National Mortgage Association (OTCPK:FNMA)'s HomeReady program now lets borrowers count documented roommate or partner rent as qualifying income, drawing fresh attention to the stock in a high-rate market.</p>
<div class="lb-trans"><p>最近，联邦国民抵押协会（OTCPK:FNMA）的 HomeReady 计划进行了贷款审核变更，现在允许借款人将已记录的室友或伴侣租金计入合格收入，这在高利率市场中引起了对该股票的新关注。</p>
</div><p>See our latest analysis for Federal National Mortgage Association.</p>
<div class="lb-trans"><p>查看我们对联邦国民抵押协会的最新分析。</p>
</div><p>Against this backdrop, Federal National Mortgage Association’s share price has been under pressure in the short term, with the 30 day share price return down 5.39% and the year to date share price return down 29%. At the same time, the 1 year total shareholder return is 13.52% and the 3 year total shareholder return is very large, suggesting longer term momentum has been strong while shorter term sentiment has cooled around the recent HomeReady change.</p>
<div class="lb-trans"><p>在这种背景下，联邦国民抵押协会的股价在短期内承压，30 天股价回报下跌了 5.39%，年初至今股价回报下跌了 29%。与此同时，1 年总股东回报为 13.52%，3 年总股东回报非常可观，这表明长期动能强劲，而近期对 HomeReady 变更的情绪有所降温。</p>
</div><p>If this HomeReady update has you rethinking where housing and financing trends could lead next, it may be a good moment to broaden your search and check out 18 top founder-led companies</p>
<div class="lb-trans"><p>如果这个 HomeReady 更新让你重新思考住房和融资趋势可能走向何方，现在可能是扩大搜索范围、查看 18 家顶尖创始人领导公司的好时机。</p>
</div><p>So with Federal National Mortgage Association trading at US$7.81 against an analyst price target of about US$12.08 and a value score of 5, is the market overlooking upside here, or already pricing in any future growth?</p>
<div class="lb-trans"><p>因此，联邦国民抵押协会的交易价格为 7.81 美元，而分析师的目标价格约为 12.08 美元，价值评分为 5，市场是否忽视了这里的上行空间，还是已经将未来的增长计入价格？</p>
</div><h2>Most Popular Narrative: 61% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：61% 被低估</h2>
</div><p>With Federal National Mortgage Association last closing at $7.81 against a narrative fair value of $20.00, the most followed thesis paints a very different picture from the market.</p>
<div class="lb-trans"><p>联邦国民抵押协会最近收盘价为 7.81 美元，而叙述的公允价值为 20.00 美元，最受关注的论点与市场呈现出截然不同的图景。</p>
</div><blockquote>
<p><em>The assumed bullish price target for Federal National Mortgage Association is $20.0, which represents up to two standard deviations above the consensus price target of $12.08. This valuation is based on what can be assumed as the expectations of Federal National Mortgage Association's future earnings growth, profit margins and other risk factors from analysts on the bullish end of the spectrum.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>联邦国民抵押协会的假设看涨目标价格为 20.0 美元，代表着比共识目标价格 12.08 美元高出最多两个标准差。这个估值基于可以假设的联邦国民抵押协会未来收益增长、利润率和其他风险因素的预期，这些来自于看涨分析师的观点。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Want to see what justifies a higher fair value even as forecasts point to weaker earnings and flat margins? The narrative leans on specific revenue growth assumptions, share count changes and a required future earnings multiple that many investors usually associate with faster growing sectors.</p>
<div class="lb-trans"><p>想看看即使预测指向较弱的收益和持平的利润率，是什么支撑了更高的公允价值吗？这个叙述依赖于特定的收入增长假设、股本变化和许多投资者通常与快速增长行业相关联的未来收益倍数。</p>
</div><p><strong>Result: Fair Value of $20 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 20 美元（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, this bullish setup still hinges on credit costs in the multifamily book remaining contained and on portfolio growth not triggering heavier capital or funding pressures.</p>
<div class="lb-trans"><p>然而，这种看涨的局面仍然依赖于多户住宅贷款的信用成本保持在可控范围内，以及投资组合增长不会引发更大的资本或融资压力。</p>
</div><p>Find out about the key risks to this Federal National Mortgage Association narrative.</p>
<div class="lb-trans"><p>了解联邦国民抵押协会叙述的关键风险。</p>
</div><h2>Next Steps</h2>
<div class="lb-trans"><h2>下一步</h2>
</div><p>With sentiment clearly divided between risks and rewards, this is an appropriate moment to act promptly, review the underlying data directly, and evaluate both perspectives with 3 key rewards and 3 important warning signs</p>
<div class="lb-trans"><p>在风险与收益明显分歧的情况下，现在是及时采取行动、直接审查基础数据并评估两种观点的适当时机，重点关注 3 个关键收益和 3 个重要警示信号。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>If you stop your research with one stock, you risk missing other opportunities that might fit your goals even better. Broaden your scope with targeted screeners.</p>
<div class="lb-trans"><p>如果你只关注一只股票，你可能会错过其他更符合你目标的机会。通过有针对性的筛选器扩大你的视野。</p>
</div><ul>
<li>Target stronger value candidates by checking out 51 high quality undervalued stocks that currently stand out on both quality and pricing.</li>
<li>Prioritise resilience by running through 66 resilient stocks with low risk scores that score well on stability and downside protection.</li>
<li>Get ahead of the crowd by scanning a screener containing 21 high quality undiscovered gems that most investors are not watching yet.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过查看 51 只在质量和定价上都突出的高质量被低估股票，锁定更强的价值候选。</li>
<li>通过筛选 66 只低风险、在稳定性和下行保护上表现良好的抗风险股票，优先考虑韧性。</li>
<li>通过扫描包含 21 只高质量尚未被大多数投资者关注的潜力股的筛选器，抢先一步。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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<div class="lb-trans"><h3><strong>新：AI 股票筛选器和提醒</strong></h3>
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房利美（OTCPK:FNMA）在 HomeReady 承销变更后的估值情况分析