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Quote: “This is a 4.28 Trillion Dollar company by Ent Value. If you sold all of its assets and gave it to its outstanding shareholders including the warrants in that total that's a whopping 3,784 USD per share of common stock.” End of Quote.
The enterprise value includes the debt. Fannie reported $77.6 billion in total equity, Form 10K page 68. I don’t understand how you’re calculating $3,784 USD per share. Sell the assets give all the money to the shareholders forget the debt owed??
Fannie Mae Financials From NASDAQ
https://www.nasdaq.com/market-activity/stocks/fnma/financials
Lamebrain has no idea what GSE intelligence is…he’s been above the law and using doublespeak for years.
How long will he torment GSE shareholders with his obvious biases by purposelessly extending the court case remains a mystery.
Fnma
Lamberth will toss the appeal. Of course he will wait 40 days to issue his decision.
Someone should turn him on to chatgbt...we'd get a decision in 10 minutes.
Nobody cares about the appeal
They try and say the jury erred in decision lol
they are the biggest secured debt holder in the world.
I don’t know why the FHFA would require more capital the Real Property would stand as collateral.
Freddie said it plans to keep a borrower’s loan-to-value ratio at less than 80% when
looking at both first and second-lien mortgages on a home, keeping an equity cushion in place in times of stress.
What’s the holdup with the Lamberth 8-0 verdict? You said appeal, I must have missed it. What’s the criminals doing now to delay? Link? Thanks
BOTTOM LINE. 2nd-lien mortgages turn into 1st-lien motgages, in the case of purchases of those cash-out refinancings.
After being bundled into UMBSs, it isn't a new product.
Is the purchase/sale of 2nd-lien mortgages in cash-out refinancings, a new product?
It would need approval, plus publication on the Federal Register for a comment period.
I don't think that it's a new product. Subject to the overall 80% LTV limit (Charter Act: the same Credit Enhancement clause that bars the CRTs) that takes into consideration the first mortgage it emanated from, when it was refinanced, and at the same interest rate.
So, not only mortgage-related but also it copycats the first mortgage.
It would be sold as a Uniform Mortgage-Backed Security (UMBS) like all others.
You may say that it's a new product because it's a new activity. It's the same activity when it was created: refinancing of the mortgage. Same collateral.
What we call "product" is the UMBS.
The same with the sale of RPL bundled into UMBS again. Nowadays RPL sold to GS.
It wouldn't be a good idea to consider it a new product, pricing-wise.
Not a personal loan at a 9.5% rate like the new proposal from Freddie Mac. This case, a new product.
Authorized in the Charter Act: "to lend on the security of a mortgage."
More if we are bound for a Charter-revoked scenario (2011 UST plan).
Ps drop week of April 22 -27
The thing is that that's a personal loan, not a second-lien mortgage.
A personal loan at a 9.5% rate, using the collateral (property) already owned by Freddie Mac.
Unrelated to a mortgage.
This is why it's been announced just after the CEO of Freddie Mac with 30+ years of experience in mortgage finance, resigned "in the 1Q2024". He finally left the company on March 15th.
I guess that Freddie Mac would have to apply for a banking licence.
High interest rates as a consequence of the price of the collateral ballooned (overheated), means that your are doubling down on credit risk, and at the time when FnF aren't allowed to take possession of that collateral that covers the credit risk, because they are compelled to sell their NPL and RPL to Goldman Sachs & Co and the hedge funds, even at a discount. Judicial states delay it, etc.
The same loan amount can be achieved with cash-out refinancings, when the entire UPB of the mortgage and more, is refinanced at low rates.
FnF purchase the first-lien mortgage and the banks keep the second-lien mortgage on their balance sheets.
You can read more about it in the FHFA website, in light of the request for comment on this new product.
I'm in favor of FnF purchasing the second-lien mortgages, but in cash-out refinancings (less risky: low rates and low home prices), not in personal loans that is what has been proposed.
There are second-lien mortgages worth $ billions in the banks' balance sheets, where FnF own the collateral, but the banks are allowed to do business with it (collateral-sharing)
This why the reason of the famous robosigning case with foreclosures in early conservatorship. The banks (servicers of the mortgages) wanted to foreclosure on the properties fast, in order to protect their second-lien mortgages. You would wonder why a 2nd-lien gets paid first.
The repurchase of all the second-lien mortgages in cash-out refinancings already outstanding, would boost the economy and the banks' battered balance sheets.
Fight, Fight, Fight to Right the Wrong done to Shareholders
Fight to Make it Right
Get Raging Mad
CDS and F&F.
According to the FDIC WaMu/WMB Securitized Two Trillion in RMBS of which $500 Billion was sold to F&F.
Those RMBS were insured by CDS to cover the losses. Derivatives!
The insurance losses need to be recovered.
The CDS insurance will cover all of F&F outstanding claims.
Ron
And you can buy F&F in Chase Bank also
Yes, that's wear my FNMA account is.
:)
Yes You Can Buy F&F on Schwab.
I did last month.
Ron
Can you buy fnma on Schwab?
Thx
I wouldn't touch that bank with a ten foot pole.
Please Read This Post Regarding CDS.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174266097
This is significant for the entire ABS Market generators like WaMu, Lehman’s and F&F.
The CDS insurance contracts need to pay for the ABS losses.
Asset Backed Securities;
MBS.
RMBS.
Others (credit cards).
Ron
Sofi does and they don’t charge fees for doing it. Schwab charges like $5/trade for otc. Needless to say I moved all my otc to sofi.
buyer on FNMAS up 4.3% today
warrants have not been satisfied
the GOV still has the right to exercise for about 4B shares
one can take them to court or whatever but that was all set up by HERA PAULSON and BUSH and nothing has changed
R U serious ?
This is the same DJT who was POTUS for for years of conservatorship
educate him? begin anew?
control housing mort market ? (how so more than DJT or BO ?)
and --- those subsidy programs that people keep pointing to --- are tiny and are PR by POTUS.
F and F would not be making hand over fist PROFIT - like never before !!! -- if money was being given away. There is a bunch of noise about the helping hand programs but all in all - it is noise and does not impact the 99% core function of F and F and its ability to build look alike reserves (reserves that look alike with the growing smoke and mirror LP that may be paid to GOV with our cash)
1. Reparations is not the word I would choose. Simple payment for the taking - like in the zone of 20-40 or whatever
2, My key point - I hoped to make in THAT post - was that while GOV owes us for a taking --- what is going on is NOT robbing future generations of the ability to buy homes etc. Whether we like it or not - F and F are operating just fine in providing liquidity in the housing market. We should own them !!! not the GOV quasi ownership -- but the ugliness of the taking is not impacting buyer and sellers of houses
I think you’re right.
“ Just like the day of getting put into conservatorship came out of nowhere... the exit will come out of nowhere.”
Looking at the trading patterns of both common and preferred the stocks are under accumulation.
Right now big money chomping on Ps
No major sell-off this week, despite of the government's motion to overrule the verdict.
This motion could have been made 6 months ago, before all this work on interest and distribution.
So, I think all they try to do is delay the ultimate outcome in favor of the shareholders.
The charts have deteriorated a little bit, but not enough to say we moved in a downturn.
Hope we have a great next week.
Go FNF.
Williams showed up with a red bucket of paint at end of day?
What makes you say that
‘Zackly, been screwing us since the beginning. He was a Reagan appointee, what would Ronnie think.
I hope the FNF cheer leaders show up soon. Maybe next week.......
Lamberth does NOT side with shareholders. That said, the unanimous jury verdict was handed down in August of 2023. Whatever time frames are mandated (if there are any mandates, I don't know), Lamberth knows the rules do not apply here.
#wrongdefendant
I was giving it a lot of thought, why did they do it all the way….i happen to agree with u. It’s do or die for all future cases, and the judicial system as a whole, next step would be Supreme Court over such an unconstitutional demand if lost. who knows about share price. If the judge upholds the whole system he sits on, it’s game over for them.
I think Lamberth sides with the shareholders. That said, how long til he announces his position? 30 days, 60 days, unlimited time frame?
This is the reason of the appeal lol > zzzz
If the appeal is thrown out it’s game over
Cship ends
too many folksy got bagged on OTC covid cure snakeoil stocks like ENZC
Same with Robinhood
I just got off the phone with Vanguard. As of August 2022 they no longer allow the purchase of OTC stocks. No one with Vanguard can buy the GSEs.
Morningstar DBRS assigned AAA ratings w “stable” outlook
to Fannie Mae & Freddie Mac on Thursday.
The rating service noted that the ratings were directly linked to the “long-term
local currency issuer rating” the firm currently has assigned to the U.S....
Sales of existing homes declined by 4.3% on a monthly basis in March, according to the
National Association of Realtors. “Though rebounding from cyclical lows, home sales are
stuck because interest rates have not made any major moves,” said Lawrence Yun,
chief economist at NAR.
Interest rates on mortgages have increased in April, hitting an average of 7.10% this week,
according to Freddie Mac...
His buddy Williams will show up later today with some lime sorbet FNMA
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