Why Fannie (FNMA), Freddie (FMCC) Stock Are Lower Today

NEW YORK (TheStreet) -- Shares of Fannie Mae (FNMA) and Freddie Mac  (FMCC) are lower today as a U.S. Senate plan for the two mortgage financiers faces its first test this week with its authors making last minute changes to gather more support to wind them down.

Fannie Mae is down -1.82% to $3.77 and Freeddie Mac is down -2.31% to $3.81.

The Senate Banking Committee will decide as early as tomorrow if the bill, the culmination of more than a year of delicate negotiations among Democrats and Republicans, gains momentum or fizzles, Bloomberg reports.

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FNMA Chart

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