Mortgage lender Fannie Mae in a communiqué to NYSE said that it plans to bring the share price of its common stock in line with listing standards, possibly through a reverse stock split.

A reverse stock split reduces the number of shares and increases the share price proportionately.

Last week, Fannie Mae notified that it received notice from the NYSE that its stock has been unsuccessful to satisfy price-related requirements, and may lose its listing on the exchange.

After that Fannie Mae said it is working with its conservator, the Federal Housing Finance Agency, to decide how to raise the share price. If necessary, the company said it may carry out a reverse stock split, which would be subject to the approval of the U.S. Department of Treasury.

Under NYSE rules, Fannie Mae has until May 11 to fetch its share price and its average share price for 30 successive trading days above $1. If the company fails to do so, the NYSE will begin suspension and delisting procedures.

Fannie Mae was detained by federal regulators in September amid the subprime mortgage meltdown.