Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Is it just me or do idiots multiple quicker than normal people?
Fight for your right
A new journey to two starts today
Slap that ask
Door is open
Blowout earnings
Oh wow big day on deck
Crappy day
There were lots of big buys in
Take note
Strong buy anything under $2.50
Don’t let WB gobble up all the shares
We are begging another large bull run
Launch before lunch, moon before noon
Wiseman Quote: “ What has changed is the existence of a Common Equity Sweep, when it's substituted for SPS LP.
A NWS 2.0.” End of Quote
When you say Common Equity Sweep are you saying wipe out the Shareholders?
What is the right thing to do? The money kept by the Treasury by the NWS should it be applied to principle and 10% interest and over payment should be returned to the companies. $301 billion is more than enough to pay the liquidation preference and redeem the Senior Preferred Stock?
Same Financial Statement fraud: SPS LP increased for free and its offset with reduction of Retained Earnings in the same amount, are missing in their Balance Sheets.
If Fannie Mae states that
we had positive net worth under GAAP $82 billion.
we had positive net worth under GAAP $82 billion.
BOOM. Fannie Mae meets market expectations of $0.00 EPS.
YEEEEEEEEEE!
Beware of the fraudsters that take the Net Income to calculate the EPS, instead the Net Income Attributable to common shareholders after the payment of dividends or other compensation to Preferred Stocks, in order to conceal the ongoing Common Equity Sweep (NWS 2.0).
The Common Equity generated in the quarter (Net Income + Other Comprehensive Income), is the Net Worth increase in the quarter that later is used to assess the compensation to the Treasury.
Reminder: this compensation is another Capital Distribution (number 1 in its statutory definition), just like dividends (#1 too), and thus, restricted.
Common Equity held in escrow, in order to uphold the CFR 1237.12 (we use the exception to this Restriction on Capital Distribution to legalize it: for the recapitalization) and the fhfa-c's Rehab power as well.
EPS at the bottom of the image.
A determined traveler doesn't let a log
across the trail impede his journey
Go, Fannie, Go
Run, Freddie, Run
No doubt … I can’t tell you how many times I’ve breached the sanity barrier a la the Christian Bale and Steve Carell characters in The Big Short … knowing they were right about the corruption yet seeing their investments and funds bleeding to death waiting for reality to finally set in … we are all in the same position but may not reap any benefit … governments and agencies can remain corrupt much longer than we can remain liquid especially with the help of feckless courts and judges
Rip the band-aid once for all. Whichever way it's fine. Let the bleeding stop. Sick and tired
Oh wow. Did you just have a brain fart ? I recommend emergency surgery for you. Insert a brain stent and allow all excess gases to escape. The expulsion of all unwanted gaseous materials. Then you will be just fine. You will finally have eternal patience.
Quarter over quarter, as record profits accumulate and we continue to accumulate dust in our corner, I honestly don't mind receivership and just kill it off. Sick and tired of waiting for a solution.
Once again you seem to have out done yourself. You explain things in a way in which everyone can understand. Simple and to the point.
Thanks Vancmike for staying on subject.
As I have stated before, when it suits them, the govt claims the SPS was an investment. At other times that it's a loan. FnF sent their equity to the Treasury until stopped by the Fifth Circuit Enbanc. Since then the the Liquidation Preference has grown for each $ of earnings as per letter of agreement signed between Calabria and Mnuchin. When Fannie states "amounts attributable to Senior Preferred Stock" Fannie is signifying that the SPS is considered a loan.
Also, as I have repeatedly stated, if the SPS were a loan, it was paid back a decade ago. If it was an investment, then the corporations have always been capitalized, and there's been no need for the conservatorship.
Your post is exactly what they want
Delay
Delay
Delay
Until all the shareholders go away
Quarter over quarter, as record profits accumulate and we continue to accumulate dust in our corner, I honestly don't mind receivership and just kill it off. Sick and tired of waiting for a solution.
3 month list of Fannie share prices - from Yahoo
https://finance.yahoo.com/quote/FNMA/history?period1=1706667028&period2=1714525789
From Fannie Mae 10K:
"The GSE Act authorizes FHFA to establish an annual assessment for regulated entities, including Fannie Mae, which is payable on a semi-annual basis (April and October), for FHFA’s costs and expenses, as well as to maintain FHFA’s working capital. We recognized FHFA assessment fees, which are recorded in “Other administrative expenses” in our consolidated statements of operations and comprehensive income, of $159 million, $132 million and $140 million for the years ended December 31, 2023, 2022 and 2021, respectively."
Appears Calabria might have been trimming the fat at FHFA before he got fired.
My belief (backed by FHFA arguments in court and agreed by some court rulings) was that while they are in conservatorship, shareholder rights were transferred to FHFA. The tolling would begin once they were released and shareholder rights restored. However, during the Collins Hearing, one of the justices mentioned that every citizen has a right to file suit for takings. I wonder if the SCOTUS ruling in July 2022 would be the date when tolling begins.
I do miss the old GSE site where all the court cases were maintained. It was so easy to pull up the cases and cite the courts agreeing with FHFA.
Each state has it's own exceptions to tolling. One in common is minors. For them tolling begins when they reach the age of 18. Attaching an article that looks like it applies to us.
https://www.jdsupra.com/legalnews/equitable-tolling-estopping-the-clock-73341/
"how does FNMA create net worth if all income is sent to the Treasury?"
They don't! That's the foundation of this whole scandal started 16 years ago.
Guido, Donotunderstand ask me about the status of limitations running out to file lawsuit.
The FHFA / Treasury continue to change the contract, letter agreement dated January 14, 2021, So, the Statute of Limitations are not up. PAGE 6 Liquidation Preference increases dollar for dollar for all the retained earnings of the enterprises. So, every time the contract is changed this pushes the status of limits out further in time.
https://home.treasury.gov/system/files/136/Executed-Letter-Agreement-for-Fannie-Mae.pdf
Somehow we need to take in to consideration the recommendation of our friend Barron.
Quote: “ “Little Tucker Act” lawsuit for illegal exaction against the Treasury Department for money losses of less than $10,000 in my local district court. The purpose of this legal action is to introduce violations of the Charter Act and the Federal Enterprises Financial Safety and Soundness act of 1992 both as amended by HERA. Notice that FHFA will not be named as defendant. Relief sought is to enforce the provisions of the SPSPA that require the agreement be terminated and declared null and void if the agreement is found by a competent court of jurisdiction to be in violation of the GSE charter documents. Should this argument fail, a second prayer for relief will seek to force the consolidation of the enterprises onto the nations balance sheet due to violations of the GAO act and violations of the 14th amendment debt clause. At this time, money damages would be limited to court costs and Statute of limitations would rely on DOJ guidance for recurring claims due to material changes introduced in the letter agreements. For example the new increase of liquidation preference for free introduced within the last 6-years.” End of Quote
Any suggestions or comments?
Thanks Vancmike for staying on subject.
As I have stated before, when it suits them, the govt claims the SPS was an investment. At other times that it's a loan. FnF sent their equity to the Treasury until stopped by the Fifth Circuit Enbanc. Since then the the Liquidation Preference has grown for each $ of earnings as per letter of agreement signed between Calabria and Mnuchin. When Fannie states "amounts attributable to Senior Preferred Stock" Fannie is signifying that the SPS is considered a loan.
Also, as I have repeatedly stated, if the SPS were a loan, it was paid back a decade ago. If it was an investment, then the corporations have always been capitalized, and there's been no need for the conservatorship.
bwahahah oh god man this board is funny!!!
Rick, I wish I had that kind of influence.
For all you accounting knowledgeable people, (I have a basic understanding), how does FNMA create net worth if all income is sent to the Treasury?
Inquiring minds want to know.
Good bye gains from yesterday. It was nice to meet you.
Income v Revenue v Profit
When all the dust (expenses) settle - F and F have been making profit
That profit - as cash - is kept - it does not go anywhere
BUT an obligation - an IOU - is created - $ for $ - that is given to Treasury (this smoke and mirrors is Mnuchin)
The more our capital base grows - the more we owe the Treasury in LP measuring value of senior preferred paper
That paper - obligation if one prefers - should be declared to be ZERO for the 300B cash sent to Treasury (Gov argues the 110B over "investment is 15 years of dividend and or interest - which is legit but they must kill the SP - and brag about the 100B profit for us to be free)
YES
I wish I had font 100
YES
Celebrating Fair Housing Month: Honoring Progress and Commitment
https://www.fhfa.gov//Media/Blog/Pages/Celebrating-Fair-Housing-Month-Honoring-Progress-and-Commitment.aspx
Celebrating? Gimme a BRAKE so i can stop laughing
It will NOT be a 10 cent down day, today
Umm excuse me I think your post made the price drop even more.
you think? how? every penny made is swept to spsa. what may happen if they bring back a 5 year old like caalabra who raises capital required to 5% and keep hiding stress test as he did? the problem is they can do whatever they want as a conservator and regulator. whatever happened to the cfpb case that may potentially resolve this? whatever happened to the libor money? it almost seems like the solution may come from a place that no one anticipated (if) and with no timeline. no one knows considering they are fighting unanimous jury verdict. unbelievable right?
Keep up The Fight
Fight for what is Right
Fight to Right the Wrongs done to Shareholders
From the Condensed Consolidated Statements of Operations and Comprehensive Income:
"Dividends distributed or amounts attributable to senior preferred stock (4,324) $ millions"
It appears all income was sent to the Treasury
Questions:
1. Wasn't the sweep suspended until a certain capital level was reached?
2. What is FNMA's capital requirement?
The Door is Open -
Low Volume Today
means the door is open for
new investors to LOAD UP...
you won't regret it - this is an opportunity
seldom seen for FNMA and FMCC - Pack 'em in quick
Chicago PMI is destroying markets today, its all relevant with the Fed Decision tomorrow. day before and day after are never the same. GSEs are for you and me, holding up nicely today.
You’re right no Net Income for sure. Wiseman has it right to a degree Financial Statement fraud. Net Worth reported shareholder's equity $82 billion is deceitful.
We’re wiped out if the Senior Preferred are not cancelled.
And we're red. If we were considered a tech stock these earnings would have us up 20% or more.
the shortfall of 243 billion never goes down as 100% is still taken away. they can increase capital requirement to 5% and make it even worse, just need to bring calabria back. crazy right?
"Page 105 Quote: Regulatory Capital Requirements we had positive net worth under GAAP $82 billion. EXCLUDES the stated value of the Senior Preferred Stock $120.8 billion.
Short fall of $243 billion of available capital (deficit) to the total capital requirement."
Ten more quarters like this and Fannie will be able to release itself from conservatorship!
I still believe in the thesis, I'm just reducing exposure so I can mentally move on a bit.
If you've completely sold out, you should move forward and not look back at this. Otherwise you'll just end up like Amelia.
To da moon by noon, slap the ask, ready for another run to $2. Don’t let Buffet get all the shares. Hatsmashi candle sticks baby !
Hilarious!
oh no
GOV has to pay on a TAKING ?
Hey - as I have said - often - if GOV "wants to own F and F " -- well pay me a fair price then
We'll have to gen-up a tagline for you
"Don't believe your lying eyes!" 😀
Response to a previous about the 9 supremes who railroaded the gse's. I said with him it's 10.
Q1 comprehensive income of $4.32B vs. $3.96B in Q4 2023 and $3.77B in Q1 2023.
Fannie Mae (OTCQB:FNMA) stock climbed 4.8% in Tuesday premarket trading
so if none have
have you sent emails --- (not saying they will work - just wondering ? and may have asked before)
is time available or stat of limitations
Fannie Mae GAAP EPS of $0.00, revenue of $7.1B misses by $550M
Apr. 30, 2024 7:37 AM ETFederal National Mortgage Association (FNMA) StockBy: Deepa Sarvaiya, SA News Editor1 Comment
Fannie Mae press release (OTCQB:FNMA): Q1 GAAP EPS of $0.00.
Revenue of $7.1B (+3.6% Y/Y) misses by $550M.
$4.3 billion net income for the first quarter of 2024, with net worth reaching $82.0 billion as of March 31, 2024
Home prices grew 1.7% on a national basis in the first quarter of 2024 according to the Fannie Mae Home Price Index
The U.S. weekly average 30-year fixed-rate mortgage rate increased from 6.61% as of the end of 2023 to 6.79% as of the end of the first quarter of 2024
Blowout earnings.
Followers
|
2319
|
Posters
|
|
Posts (Today)
|
6
|
Posts (Total)
|
799046
|
Created
|
07/14/08
|
Type
|
Free
|
Moderators not one red cent ~NORC~ stockprofitter Ace Trader jeddiemack FOFreddie Wise Man |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |