What's your take on the new stock preferred of Fannie mae (FNM) that should be available this week. The yield is about 8.25%. Minimum purchase is 200 shares ($5000). Is it good to be true??

B.

Check out the outstanding, recently issued Freddie and Fannie preferreds and wait for the second or third round after this one to see if you STILL WANT to lock in 9-10% from lenders at the heart of the real estate storm.  This stuff won't get away from you on the upside. 

Dick