Fannie Mae-No Politics (FNMA)

[stockprofitter]

From Tim Rood re: Conservatorship

The very last sentence of a 28 page written testimony on the GSEs mentioned getting the GSEs ready for an exit from conservatorship. Judge for yourself what that means.

— Tim Rood (@tim_rood_) April 23, 2024

[navycmdr]

latest from FHFA ...

All Americans, especially in underserved communities, deserve access to safe, decent and affordable housing. FHFA works with Fannie Mae and Freddie Mac on Equitable Housing Finance Plans showing how we will work toward these goals. #FairHousingMonth #FairLending->FairHousing pic.twitter.com/uMKD9BbiGd

— FHFA (@FHFA) April 23, 2024

[Donotunderstand]

$25 - a sort of pre steal average - even in the rocky times?

Jul 01, 2008 19.1500 19.9600 6.6800 11.5000 11.4252 2,272,095,000
Jun 01, 2008 26.7800 27.8100 19.2300 19.5100 19.3831 386,690,900
May 01, 2008 28.3600 31.4800 26.1100 27.0200 26.8443 511,300,900
Apr 28, 2008 0.35 Dividend
Apr 01, 2008 28.0000 32.3100 24.6600 28.3000 27.7978 352,297,800
Mar 01, 2008 27.6900 35.5000 18.2500 26.3200 25.8530 735,943,700
Feb 01, 2008 33.8500 36.3000 25.3200 27.6500 27.1594 398,550,600
Jan 29, 2008 0.35 Dividend
Jan 01, 2008 40.2000 40.2000 29.1400 33.7800 32.8291 336,372,700
Dec 01, 2007 38.5100 40.4500 30.6600 39.9800 38.8546 271,914,800
Nov 01, 2007 56.4100 56.4100 26.3800 38.4200 37.3385 474,933,700

[Donotunderstand]

agree

and was this introduced in a court case and viewed as immaterial (post Presidency ?)

[jcromeenes]

Someone did. That is far too eloquent to be his 3rd grade prose.

[Donotunderstand]

Says NO to EO by POTUS - BO

Sherley v. Sebelius
In August 2010, Lamberth issued a temporary injunction blocking an executive order by President Barack Obama that expanded stem cell research. He indicated the policy violated a ban on federal money being used to destroy embryos,[14] called the Dickey–Wicker Amendment.[15] Susan Jacoby complained that his decision was more a reflection of his politics than a rigorous interpretation of the Dickey–Wicker Amendment.[16]


SEEMS To ME that saying he is a company man is based on a lack of simple research - as all these anti GOV actions took me - an old man - about two minutes to find

[Donotunderstand]

Again = not a friend of GOV in these cases - interestingly appears to want more information public?

Guantanamo cases
Lamberth has presided over Guantanamo captives habeas corpus petitions.[9][10]

On December 29, 2016, Lamberth ordered the preservation of the full classified United States Senate Intelligence Committee report on CIA torture.[11] The six thousand–page report had taken Intelligence Committee staff years to prepare. A six hundred–page unclassified summary was published in December 2014, when Democratic Senator Dianne Feinstein chaired the committee, against objections of the Committee's Republican minority. Its publication stirred controversy. Limited copies of the classified report had been made, and human rights workers were concerned that the CIA would work to have all copies of the document destroyed.[ci

[Donotunderstand]

983 Beirut barracks bombing case
In May 2003, in a case brought by families of the two hundred forty-one servicemen who were killed in the 1983 Beirut barracks bombing, Lamberth ordered the Islamic Republic of Iran to pay US$2.65 billion for the actions of Hezbollah, a Shia militia group determined to be involved in the bombing in Beirut, Lebanon.[8]

[Donotunderstand]

Lamberth == appointed by RR --- one major case

apparently - not a company man - to the point they funked him

Cobell v. Kempthorne
Lamberth presided over Cobell v. Kempthorne, a case in which a group of Native Americans sued the U.S. Department of the Interior for allegedly mismanaging a trust intended for their benefit.[6] Lamberth, appointed to the bench by President Ronald Reagan, was known for speaking his mind and repeatedly ruled for the Native Americans in their class-action lawsuit. His opinions condemned the government and found Interior secretaries Gale Norton and Bruce Babbitt in contempt of court for their handling of the case. The appellate court reversed Lamberth several times, including the contempt charge against Norton. After a particularly harsh opinion in 2005, in which Lamberth lambasted the Interior Department as racist, the government petitioned the Court of Appeals to remove him, alleging that he was too biased to continue with the case. On July 11, 2006, the U.S. Court of Appeals for the District of Columbia Circuit, siding with the government, removed Judge Lamberth from the case.[7]

[Donotunderstand]

Thank you for summary and pinpointing

Wait

[stockprofitter]

You’re being generous with $.05 lol

[RickNagra]

Commons keep going up. Preferreds keep going down. Commons headed to $325. Preferreds headed to $0.05.

[Sammy boy]

That’s what scares me, we’re playing poker with our cards facing the corrupt Govt. Very sad indeed !

[jog49]

"3 years old by a guy no longer President. Not sure he would remember this anyway. I haven't seen that he's mentioned the GSEs since that 3 year old letter. Has he?"

So what about Rand Paul? In one ear and out the other?

[jog49]

"I guess I am just trying to figure out why this is taking so long. "

Two reasons:

1) The judge and his staff know NOTHING about finance and are struggling with the division.

2) The judge, a government employee, NEVER wanted the plaintiffs to win, and they did, so he is dragging his feet as much as humanly possible (and doing a good job).

[skeptic7]

Lamberth will not rule in any way here that will benefit shareholders or harm the defendant. Company man.

[RickNagra]

Thompson talks abt eventual exit from conservatorship, as if it will magically happen.
She needs to work with Yellen to move ahead. Always the excuse, "waiting for Congress", Yellen is silent.
Mnuchin & Calabria knew a) HERA allows them to act, b) took steps to act on their own.

— Chris Roberts (@RobertsChris6) April 18, 2024

[Donotunderstand]

My potential profit on GSE holdings is not enough reason to vote for DJT or JOE

There are major issues on the table

Pick and Choose but voting on GSE profit - unless you own 1,000,000 shares I guess - is missing the forest for the tree

[Donotunderstand]

Did not read

but

tons of corporations - like Oil companies and Builders are absolutely looking 10-20 years out to what climate change will have done to our USA land and such

it is smart -- and does not need to be political just good BUSINESS

e.g. it is my understanding that oil companies have major difficulty issuing 30 year bonds without a big boost on interest paid --- it just is the market (Same IMO if Tesla tried to issue 30 year bonds --- into the haze around EV)

[Donotunderstand]

oops
I tried to think but had no time ?

[Donotunderstand]

792454

why not have Freddie and FNMA for JPS pay to equity holders ?

such payment - if it ever where to occur goes to equity holders AND the decrease of cash or surplus at the GSE is meaningless ---- until there is freedom

This tiny payment does zero damage to the value of F and F that equity holders wish to get back IMO

[stockprofitter]

Mortgage rate manipulation:

Homeowners in the US filed a class action lawsuit in October 2012 against twelve of the largest banks which alleged that Libor manipulation made mortgage repayments more expensive than they should have been from loans including Fannie Mae and Freddie Mac.

Statistical analysis indicated that the Libor rose consistently on the first day of each month between 2000 and 2009 on the day that most adjustable-rate mortgages had as a change date on which new repayment rates would "reset". An email referenced in the lawsuit from the Barclay's settlement, showed a trader asking for a higher Libor rate because "We're getting killed on our three-month resets. During the analysed period, the Libor rate rose on average more than two basis points above the average on the first day of the month, and between 2007 and 2009, the Libor rate rose on average more than seven and one-half basis points above the average on the first day of the month.

The fifteen lead plaintiffs included a pensioner whose home was repossessed after her subprime mortgage was securitised into Libor-based collateralised debt obligations, sold by banks to investors, and foreclosed. The plaintiffs could number 100,000, each of whom has lost thousands of dollars. The complaint estimates that the banks earned hundreds of millions, if not tens of billions of dollars, in wrongful profits as a result of artificially inflating Libor rates on the first day of each month during the complaint period.

[stockprofitter]

Thanks

[stockprofitter]

Punitive damages…hahaha!!

Can we just be happy with a cup and handle?

[JOoa0ky]

Why would you even respond to him?

[stockprofitter]

If I’m wrong so be it

See you on the other side lol

Let’s go Fannie!

[Golfbum22]

Rood mentions page 28.

Your post shows page 21.

Is there more info on page 28?

Page 21 you highlighted shows an intended Fhfa job description for after conservatorship has ended.

Interesting that she writes this.

Thx again for the info

[navycmdr]

Agreed

— D.L. (@outerspace987) April 23, 2024

The very last sentence of a 28 page written testimony on the GSEs mentioned getting the GSEs ready for an exit from conservatorship. Judge for yourself what that means.

— Tim Rood (@tim_rood_) April 23, 2024

Fascinating trend in legislating and fiscal spending - find ways for the private sector to pay for or just finance the policy and outcomes the gov wants. CARES Act (servicers and mom and pop investors - “you mind covering those missed payments?” Or the GSEs - (opportunistic…

— Tim Rood (@tim_rood_) April 23, 2024

[Rodney5]

You’re wrong I don’t defend the SPS LP increased for free. And I don’t support the Treasury confiscation of over $301 billion eluding to keep it in their coffer!

The separate account plan you are advocating the Treasury returns the money confiscated returns it back to the shareholders?? And will you kindly tell us the date this will happen??

[Freddie bagholder]

You are absolutely correct on Sandra. I urge everyone here to ask your family and friends to vote for Trump. Else I can bet NWS will start after they reach $200b capital as per Calabria/mnuchin agreement.
Parrot wanted to turn around calabria ship and he did that by installing dumb Sandra.

[Wise Man]

That's related to a LIBOR settlement approved in 2020. Hello?
The LIBOR case comprises several litigation alleging the existence of an international conspiracy, better known as "The Allies".
Your are talking about the brief filed yesterday by one plaintiff of those awarded a settlement, the Exchange-based Plaintiffs that transacted in LIBOR-based Eurodollar futures or options on exchanges, and regarding a dispute with his lawyer.
https://www.usdliboreurodollarsettlements.com/
As far as I know, FnF are in a different group of plaintiffs: The OTC Plaintiffs, basically those that used swaps for hedging interest rates.
There is also a Class Action for those with investments Libor-based.

You want to pass it off as a settlement with FnF using multiple aliases, "Hi Ron!", because you've been ordered to post court news no matter what.

You even post the estimation of calendar for the release of the first quarter of 2024 Earnings report wrong, because all the financial websites I checked out, provide an estimation of April 30th. At least, tell us your source.
Although we have to wait for the official announcement of the scheduled release by the managements a few days earlier.

Looks like Libor settlement will be announced in conjunction with earnings May 5-6, 2024.

[Wise Man]

By the way, Hamish, as part of a Takings case, not as part of the Separate Account plan (SPS LP increased for free is the Phase 3) in accordance with the law.
Another one crying out loud: "We've been robbed!"
Fanniegate will be an "inverse settlement" case with all the frivolous litigation.
The litigants and company will have to pay Punitive Damages to the Equity holders, accused of stock price manipulation, abuse of court process and Making False Statements for the cover-up of many statutory provisions and rules, like the Restriction on Capital Distributions, besides financial concepts.

There is a 6-box checklist for scrutiny of the plotters and to levy a penalty for punitive damages.
Although the checklist is extended to 9 boxes to see the extent of their involvement in the Fanniegate scandal.
It was posted here.

[Wise Man]

It's you who defends the SPS LP increased for free along with the rest of plaintiffs and other plotters (Ackman, Berkowitz, etc.), because you haven't brought it up to court in your lawsuit.
Only the attorney Hamish Hume just a few months ago in the Wazee case and with a 3rd amended complaint. But he is covering it up in the Lamberth court where he is a party too, because it would blast his case and the claim of damages of one-day share price drop on the 3rd amendment-day, as it is the same Common Equity Sweep as before with the NWS dividend, and also, it blasts the Class Action altogether, as it wouldn't put an end to the controversy as a prerequisite to authorize Class Actions.

We even have the case of the attorney for Berkowitz, the almighty and omnipresent David Thompson, who even claims in court in the Rop case that with the SPS LP increased for free, it has achieved a Wonderland scenario based on the Financial Statement fraud in FnF (these gifted SPS LP and its offset, reduction of Retained Earnings account, are absent from the Balance Sheets), where the UST gets rich with gifted SPS and, at the same time, FnF are recapitalized, and thus, he requested constitutional damages, arguing that the "for cause" removal restriction prevented this scenario from happening sooner, sacking Mel Watt before.

On the other hand, the Separate Account plan, that states that the SPS LP increased for free as compensation to the UST in the absence of dividend payments, is a capital distribution (Definition number 1: 12 U.S.Code §4502(5)(A)) restricted (U.S.Code §4614(e)), and therefore, it's applied towards the exception to the restriction in order to legalize it.
In this case, the exception added to the one the statute posted before, enacted in a July 20, 2011 Final Rule "for the transparency of the conservatorships", and also with the objective to uphold the FHFA-C's "PUT FnF IN A SOUND CONDITION" power: recapitalization in a separate account (12 CFR 1237.12, in either of the 4 exceptions, because it supplements and shall not replace or affect the restriction by statute posted before, that also means recapitalization at the same time the SPS LP is reduced, with assessments sent to UST under the guise of dividend payments, as they are restricted too -Number 1 in the definition of capital distribution-, besides unavailable Earnings for distribution as dividend, out of an Accumulated Deficit Retained Earnings accounts.)
Therefore, the way to comply with the law is simply: the Common Equity is held in escrow, pending unwinding the operations. Other theme is that it's unnecessary to do it in the Balance Sheet if the operations haven't been recorded in the first place.
We can see how it's held in escrow in this image:


Actions have consequences and now, no one can pretend that it didn't happen: It needs a settlement of this Securities Law violation (7 in total during conservatorship: SPS LP increased instead of issued, to skip the December 2009 deadline on purchases by UST of high yield SPS, etc.), that the S.E.C. is aware of:
S.E.C. complaint 15976-876-848 submitted on August 2020.
Important clarification: the charge on the Income Statement that makes FnF post $0 EPS every quarter, is correct.


Finally, it gets better. The Lamberth rebate is another capital distribution and thus, restricted, included in the definition of capital distribution in an amendment inserted by the FHFA Final Rule of July 20, 2011, thanks to an express grant of authority to do it in the FHEFSSA posted above (Definition number 3: CFR 1229.13)

The Liquidation Preference continues to increase. And this is okay?

This isn't solved asking for debt forgiveness, Argentina/IMF-style or a swap SPS to commons, so that the JPS mimic this swap too.
That's the Hedge Funds/Private Equity firms trade (John Paulson and Blackrock lying in wait).
It's solved applying the law and rules in force and basic finance: the Separate Account plan.

[RickNagra]

Yes we will make it to the 20th anniversary sadly. We are at $125B but need $200B per the capital rule. I doubt very much this rule will be amended by Thompson. She knows nothing. She is incapable of writing a new rule. I doubt she can read or write. I firmly believe she is illiterate. She should be cleaning and dusting the FHFA offices every night not running the place. The irony of it all. I am WhaleBalls.

What is it, the 16th Anniversary coming up? Will we make it to the 20th :/

[stockprofitter]

We are in excellent position better than ever before. Soft bashers will always pop up here and try and spread fear to scare you into selling and snap up your shares

Don’t get suckered

Strong Buy
FNMA

[not one red cent ~NORC~]

What is it, the 16th Anniversary coming up? Will we make it to the 20th :/

[EternalPatience]

Now as in next 0-4 years? May be..
possible.
Chances exist
Hopefully
Feasible
Probable
Might happen


Cannot say 4 sure

[Augie Boukalis]

The government has milked the gses for as much as it could now there going to release them 🛹🌵🇺🇸

[Patswil]

If you go back and click on the link from my post from stockprofiter has you’ll see that’s the real McCoy

[Ace Trader]

Yep ! low volume and short % way down here's to the next leg up !! Even the Fullstoc's line has crossed. This one's easy to predict !

[jcromeenes]

3 years old by a guy no longer President. Not sure he would remember this anyway. I haven't seen that he's mentioned the GSEs since that 3 year old letter. Has he?

[Fannie Heyyyyy]

Lol...
Are we speaking with..
Arnold or Benedict
right now?

[ninedoors]

[detearing]

The Freddie Mac and Fannie mae board Risk Committee has primary oversight of climate related risks....and have no acknowledgement of stealing shareholders retirement investment?

So the sky is falling?

Thieves will get their justice. I fret not over those who do evil...and envy not those that do wrong...they will wither...wither quite quickly.

Shareholders want justice...reparations!

Stop being the weather reporter and give back our money!

[jcromeenes]

Yeah, but that's from 4/20. Someone was smoking something! 🤣

[blownaccount9]

It just means case has gotten a verdict. Doesn’t mean appeals are through though.

[stockprofitter]

Toonie Tuesday!!

Twooooooooooo!

[Sammy boy]

Spot on as usual. Thanks for posting!

[Nerdy1]

Thank you @imbellish I guess I am just trying to figure out why this is taking so long. I think I was just getting hopeful that they are finally giving the rightful owners some of their money back.

[Viking61]

Sounds good AlongZ take your own advice and go away!