fmcc stock price continues to test support levels near $11. That's not to say the current headwinds holding back the housing and mortgage markets will abate entirely in the near future. To the contrary, Fannie Mae researchers suggest that a combination of affordability challenges, low inventories, and the "lock-in effect" of existing homeowners with low rates on their mortgages will more likely mean there will be a "meaningful but slow" recovery in home sales in the coming year. Beacham pioneered the raising of capital markets for loans to residential real estate investors, asset classes functionally capped by a lack of institutional backing. By standardizing a process to spit out the product he sought, not unlike the GSEs, Beacham brought the first single-family rental (SFR) securitization to market in 2013, the first multi-borrower SFR securitization in 2015, and eventually the first residential transition loan (RTL) securitization in 2024. As of early afternoon, fmcc stock price remains steady at $11.