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PPS should be $325/share
PPS should be $325/share
Whalen & friends: 2 problems with the GSEs -
— Alec Mazo (@Alec_Mazo) April 15, 2024
1. Moody's will be forced to downgrade Fannie/Freddie's credit if they exit conservatorship.
2. The GSEs' work culture is like the U.S. Postal Service. Operationally incompetent.
Howard's (Fannie ex-CFO) reply:
1. No operational…
1) Fannie and Freddie had an implied guarantee for years without impact to ratings 2) today they would exit with a periodic commitment fee that provides a stand-by line behind significant statutory and regulatory capital. It seems Chris is playing for the greedy asset managers…
— joshua rosner (@JoshRosner) April 15, 2024
@rcwhalen
— MIA (@MIA95629998) April 16, 2024
2 problems he states are LIES.
He is corrupt.
He is FAKE NEWS.#fanniegate $fnma
Good Morning Joshua,
— D.L. (@outerspace987) April 16, 2024
A recent quote from the former CFO of Fannie Mae”The companies have over $125bn of capital and growing every quarter..The chances of them tapping into the paid-forTreasury line are minuscule.”Leads to question why an exit strategy hasn’t been implemented?
The Capital Rule is effective February 16, 2021.
Although the same Capital Rule stated that FnF must keep it secret until January 1st, 2022 (They only gave a broad figure with the 1Q2021 Earnings reports).
Therefore, the ERCF tables were posted for the first time with the 1Q2022 Earnings reports.
A measure tailored for representative French Hill in the annual testimony of the FHFA Director of July 2022, so he asked about the 2021 FHFA Report to Congress without the ERCF tables and huge regulatory capital shortfalls over capital requirements.
The same with representative McHenry in 2023. The 2022 FHFA Report to Congress in question was released in June 15, 2023, but he had already convened the annual testimony of the FHFA Director weeks earlier.
Anyway, the core capital available and Minimum Capital level have been posted every quarter since day one on their Earnings reports, because it's statutory (with the old weights).
The Risk-Based Capital requirement absent, because HERA struck the entire section with the formulaic in the FHEFSSA.
The capital shortfall is evidence in itself of a Separate Account plan (Adjusted $402B core capital shortfall over Minimum Leverage Capital requirement as of December 31, 2023, combined).
Bye bye receivership 
strong buy
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Fannie Mae (the Federal National Mortgage Association, or FNMA) is a government-sponsored enterprise (GSE) in the U.S. that was established in 1938. Its main purpose is to provide liquidity, stability, and affordability to the U.S. housing market. It does this by purchasing mortgages from lenders (like banks), packaging them into mortgage-backed securities (MBS), and selling those securities to investors. This process ensures that lenders have more capital to issue new home loans, helping more Americans get access to homeownership.
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