Fannie Mae and Freddie Mac to Delist Shares from NYSE

Fannie Mae (FNM) and Freddie Mac (FRE) are pulling their shares from The New York Stock Exchange. Their shares will be pulled from NYSE effective July 18th. The two mortgage companies were ordered to do so by the federal housing agency.

They will be traded OTC.

The government took over the pair in September of 2008, after they suffered heavy loan losses following the housing crash.

Since the two companies were taken over, most of the month the transaction price is not eligible for the New York Stock Exchange.

June 15, 2010 Fannie Mae closed at 92 cents per share, Freddie Mac closed at 1.22 dollars per share.

Before the downturn in 2007, Fannie Mae was trading at more than 65 dollars per share and Freddic Mac at 55 dollars per share.