Federal National Mortgage Association (PNK:FNMA) Q4 2023 Earnings Call Transcript

Page 3 of 3

We expect rent growth to remain below recent averages in the 1% to 1.5% range in 2024 as a result of rising levels of consumer debt, elevated new construction completions, and anticipated slowing job growth. Multi-family origination volumes are expected to remain subdued in 2024 at between $295 billion and $325 billion. I invite you to visit our web pages where you’ll find a financial supplement with today’s filing that provides additional insights into our business. Thank you for joining us today.

Operator: Thank you, everyone. That concludes today’s call. You may disconnect.

End of Q&A:

Follow Federal National Mortgage Association Fannie Mae (OTCBB:FNMA)

Page 3 of 3