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We cannot seem to breakthrough $1.46 Captain Tutt. Do something will ya ?
I’ll stick with $libtrs
It may be $SANDRA
We need more buying volume Captain Tutt.
Once she hits $444 my new license plate is $OBAMA
Gotta give the man credit where credit is due
Used to be red on Friday. Now I say it's green
$Freddie Mac's mortgage portfolio rose at annualized rate of 3.2% in March,
bringing its balance to $3.496 $Trillion the $GSE said on Thurs.
$Single-family $Refinance $Loan $Purchases and guarantee volume was $3.9B in
March, representing 15% of total single-fam mortgage.
Booom ! Freddie Mac mortgage portfolio increases at 3.2% annual rate in Marchhttps://t.co/LVFcNOro0e
— Cmdr Ron Luhmann (@usnavycmdr) April 25, 2024
Federal Home Loan Mortgage Corporation
(FMCC) | By: Liz Kiesche, SA News Editor
Glad you have come to your senses.
Great decision to dump JPS.
Commons to the MOON $444/SHARE 🚀🚀🚀
A layman making a comparison: Net Worth 2008-2023.
Notwithstanding that today's Balance Sheet (once the S.E.C. fixes their Financial Statement fraud with the $125B worth of SPS LP increased for free as of December 2017, and its offset with reduction of Retained Earnings account, absent from their Balance Sheets), is comprised of:
- $316B SPS LP outstanding.
- $-216B Accumulated Deficit Retained Earnings accounts, and account that absorbs the future (unexpected) losses, which is what the Capital ratios are for (Retained Earnings is Core Capital). So much for "rehabilitation".
Capital Stocks DO NOT absorb losses (reduction). They just offset a negative Retained Earnings account, so the Net Worth remains with positive balance.
Regarding their Net Worth, today's $125B NW has been built with the $125B SPS LP increased for free since December 2017, absent from the Balance Sheet. Thefore, out of $125B Net Worth, $0 corresponds to the Common Stocks and $0 corresponds to the JPS.
Your comparison of Net Worth 2008-2023 is another plan of deception, in order to conceal the reality of Fanniegate, with your boss Tim Pagliara involved for sure:
I have been involved in every aspect of this issue at the highest levels for 9 years. Source
With respect to capitalization, I am not a regulatory lawyer. I am a litigator....That's being watched by a number of sophisticated lawyers...
The ongoing Common Equity Sweep not only is seen in the Income Statement posted yesterday.
Net Income
Less the amount of SPS LP increased for free (10% and NWS dividends on SPS before)
= Net Income Attributable to common shareholders
Thus, close to $0 EPS every quarter.
It's also seen in the other Financial Statement, the Balance Sheet, if it wasn't because it's missing both the $125B SPS LP increased for free, and its offset with $125B reduction of Retained Earnings account (Financial Statement fraud).
Fannie Mae: There is always $121B SPS LP, when the real SPS LP oustanding as of December 31, 2023, including the one scheduled to be increased on March 31 that must show up as well, is $199B.
Freddie Mac: The SPS LP stuck at $73B every quarter, when the real SPS LP outanding, including the one scheduled to be increased on March 31, is $120B.
As we can see in the Adjusted Net Worth activity table:
Another capital distribution, restricted, we consider that this Common Equity is held in escrow, in compliance with the exception "for Recap" in the Restriction on Capital Distributions (CFR 1237.12) and also with the FHFA-C's Rehab power: Put FnF in a sound and solvent condition, related to Capital levels.
Because this payment existed and we are just legalizing. Carry out thanks to the FHFA-C's Incidental Power (Any action authorized by this section, in the best interests of FnF or the Agency): 3rd phase: "Just joking. Zing!"
This is what the FHFA is interested in.
Sandra Thompson continues to peddle the lie about capital requirements met with "$125B Capital Reserve" (amount of Net Worth above the Capital Stock) that she sees on the Balance Sheet, in her written testimony in Congress last week. Enough reason to fire her for cause, because the FHEFSSA and her own ERCF state otherwise (they are met either with Core Capital, Total Capital, CET1 or Tier 1 Capital)
By the way, once adjusted for the Financial Statement fraud mentioned, the Capital Reserve =$0 (All the Net Worth is SPS)
The FHFA Director doesn't have authority to break the Charter Act with the CRT operations.
Let alone to set up a parallel Housing Finance System with them, called "GSE Reform".
CRT is only authorized the UST with its portion (Capital Magnet Fund) of the 4.2 bps allocated to two Affordable Housing Funds managed by HUD and the UST. Source.
The CRT is a normal bond used as an excuse to make FnF pay interests, that began with a steep 5% - 6% rate, which looked like the fraud in early conservatorship with their 30-year zero coupon callable MTNs, where FnF paid an outstanding rate when they were redeemed soon after being issued.
Now, they include arrangements in these back-end CRT "Bonds" (after FnF had carried out foreclosure prevention actions to bail out these CRT investors), and thus, it serves at the will of a random FHFA director whether he requires the payment of claims or not (Utility Model).
On the other hand, the PMI required to borrowers with LTV >80%, and today's Commingled Securities (Catastrophic-Loss Reinsurance or resecuritizations) 100% insured by other guarantors against default, are authorized CRT operations (number 1 and number 3 in the clause Credit Enhancement of the Charte Act, respectively)
It's precisely, the Commingled Securites or Catastrophic-Loss Reinsurance, a new product for the 3-option Privatized Housing Finance System revamp, chosen by the UST in 2011 for the release from conservatorship, at the request of the Dodd-Frank law, because the option 3 is a Government Catastrophic-Loss Reinsurance and this product enables it:
This product can be used for a private Catastrophic-Loss Reinsurance as well, and then, we would be in the option 1 or 2.
It wasn't created to make FnF reinsure each other's UMBSs. Currently a pilot program, but, at some point, it has to be announced one of the 3 options.
This product was unveiled by Freddie Mac in June 2022 (Source. Notice how it's written that it began with a price of 50 bps. One week later, the FHFA changed it for 9.375 bps to better reflect the 2011 UST plan we are bound for, and not the ill-conceived Mnuchin's 2019 Plan with a Government Explicit Guarantee on MBSs)
It isn't the same a MBS with Govt Catastrophic-Loss Reinsurance and a MBS with Govt Explicit Gtee. In the first one, the credit risk is covered by private guarantors. It's activated once it files for bankruptcy.
Today, the MBS is guaranteed by FnF and there is only a cheap UST backup of FnF upon negative Net Worth. That's it. The "MBS with a Govt Implicit Gtee" is an attempt to conceal the reality of a UST backup of FnF.
The FHFA has a tendency to deviate from the normal course and it corrects itself, or, sometimes, it needs help.
The PLMBS was a product not authorized in this clause (Unlawful. Lack of credit enhancement operation) and it was one of the reasons for the conservatorships.
This time, the rogue FHFA can't be authorized to break the law again at its will, regardless that JPM, the Mnuchin Treasury Department and Mike Bloomberg (included in his electoral manifesto posted yesterday) love the CRTs. Barred in FnF.
The grounds for a Housing Finance System revamp ("GSE Reform") was initiated by FHFA's DeMarco, in light of the 2011 UST plan for the release, that included g-fee hikes, Basel framework for capital requirements: "capital standards that cover the risk as if it was held by the banks" (Mel Watt attempted to deviate from this course in his proposed Capital Rule, and he was corrected by Calabria),...., that would end up with the removal of the most privilege of all: the Charter's UST backup of FnF (Charter revoked).
ST TRIES TO OVERSHADOW DEMARCO AS MASTERMIND OF REFORM
— Conservatives against Trump (@CarlosVignote) April 25, 2024
In her written testimony.
DeMarco(written testimony, May 2011)unveiled the preps of a Privatized Housing Finance Sys revamp, chosen for the release by the UST in a Report to Congress 3 mths earlier: g-fee hikes,...#Fanniegate https://t.co/mgjrPMllgX pic.twitter.com/TDKYNXTug4
I see him responding to those I blocked because I consider them government stooges and not shareholders. Don't mind responding to shareholders with views different from mine. But there's no point in engaging those who argue that the government does no wrong.
— Rick Nagra (@RickNagra) April 25, 2024
No they didnt lose. The APA doesnt apply to the actions of a conservator under HERA. APA deals with rule making. I contend that the FHFA as regulator violated the APA when it allowed the FHFA as Conservator to sell to treasury a new novel investment product consisting of senior shares with an illegal commitment fee or charge in the form of a variable liquidation preference based on the amount of money leant from the Government’s treasury. This is a magical commitment fee whose form can change with the stroke of a pen. The statutory APA requirements for such a new investment product are written in the Safety and Soundness act of 1992. Well to continue the theme. The corrupt plaintiff Attorneys, or as FFF likes to say the dumb attorneys didn’t bother to bring an APA claim based on the actual laws that matter, choosing instead to play in the HERA actions of a Conservator sandbox. You know the actions that Congress bared the Courts to review? What a great idea, let’s ignore all the laws governing the GSEs and FHFA and instead focus all our efforts for 16 years on the actions of FHFA as Conservator. Now the Statute of limitations has run out. Better hope Crazy Carlos is right.
Which plan is that? Also, the way that reads is the only thing left to do is reach the needed capital reserves? Hopefully the enterprise regulatory capital framework can get fixed and made more realistic. In the meantime they are incredibly efficiently stacking cash so we will all be getting paid multiples for our shares once we are free.
Go and ask your dad to come and speak on this board. He has more rights than you as an investor in you..
The APA does not apply to the actions of the conservator; the SPSPA the contract Court threw that out.
The APA applied to the actions of the Regulator the Lawyers failed and never applied the Law! The argument in the courts “pay me my dividends.” The SCOTUS basically said we will not be an arbitrator in such matters of contract. Go figure!
We lost the APA (Administrative procedures act) in SCOTUS.
Not helpful?? What gives you the right to tell Barron to keep quiet? Go back to your seeking garbage and print more on how the common shareholders will be forever wiped out. You’re a hypocrite.
Barron is the one who brought it to the attention of this board. The Federal statutes are the Charter Act, the Safety and Soundness Act of 1992, as amended by HERA, and Administrative Procedures Act, and potentially the Chief Financial Officers Act. None of the litigation made any claims of violation of these acts.
So now we get to see if they mean what they say and if the 2022-2026 strategic plan is serious
Didn’t seem to impact Freddie
Yeah, we've a housing crisis.
Can’t believe it’s been almost 12 years since Ed DeMarco announced the Net Worth Sweep amendment at the 2012 MBA Annual Convention...
— Matt Hill (@hill_matt) April 25, 2024
He was pure fire!@FannieMae @FreddieMac @FHFA $FNMAS $FNMA #FannieGate pic.twitter.com/cp8YdUvdZv
Oh no we are in the slumps.
https://seekingalpha.com/news/4094526-fannie-mae-book-of-business-continues-slump-in-march
we will agree this particular group of 9 is shist
AND
AND
they both keep passing super stringent safety of capital TESTS !!!
but alas - still in jail
I do not see why WTS are dead or gone
And - the real issue re dilution ---- is the LP anyway - huge monster of 60B-120B share dilution --- not 4B
YES
Combine some good real news on F and F with some ??? about lowering mortgages etc. and heavy PR
sitting there waiting to be done !!!1 (indeed was available to DJT as well - so maybe I am missing something obvious)
YES
FNMA and FREDDIE sit as ripe and ready PR for Biden
(and as I noted prior - use Executive authority to suspend the FEE for 12 months ---- so interest rates drop right that day!!)
Chart pattern is suggesting another pennant pattern which looks like it is not done forming yet. The bollies are getting tight again.. The flag that is developing appears to be a lot larger than the ones that drove the price higher over the last six months, so FNMA may trade sideways for a little while until this bigger flag completes. Thats what it looks like anyways..
Stuck at $1.46 we need a proctologist. I will now call Dr. Ben Dover.
We'll continue to politely agree to disagree on Lamberth and his motives at any time during his tenure in these trials. Regarding SCOTUS, I recall vividly having correspondence regarding the amount of times it was pointed out that they said "nationalization" during the oral arguments. It was 23, if memory serves.
My only comments were that saying the companies had been nationalized and their profits taken as a result is one thing, but ruling on it is quite another. SCOTUS proved what myself and many others have known for a very long time...this is not a fair fight.
I’d pay good money to see someone tell Calabria shut the fuck up on X
Ahhh the never-ending cycle continues.
Wow, this part also stood out to me:
"...- both during conservatorship and following the conclusion of the conservatorships".
Sounds like its a done deal! Finally! Longest investment ever!
GREAT
GREAT
Is this administration - maybe building on prior and ? prior and ? -- building the case - step by step that - say in 2025
NOW -- BECAUSE the F and F you see/get are reformed and improved and fat with cash - NOW we can free them ?
I would love that
(and then as always - what happens to the LP $ of 300B is key)
The one piece about MIKE
Arguing to make them GOV -- in essence and agency --- is not illogical
Private - GOV regulated Monopoly privately owned utility - Agency
With any proposal to NOW --- NOW -- make them an agency ---- I hope we (equity of any sort) can then AGAIN bring up the TAKING - and use Charter act or whatever and focus away from NWS which is where we lost
Just thinking out loud - that becoming an agency via a PAID FOR taking - is fine by me --- (That is GOV policy beyond me - but we should get paid some average of PPS for the three months prior to Paulson Bush taking us (and then three more Presidents or administrations equally guilty by lack of reversal !) GOV has the right to take my store to build a needed and approved highway on my plot - but they must pay for that when they take it. YES - I view all of this as a TAKING (if not defacto by now) without the quid pro quo required - payment to us for taking these profitable companies away from Equity ownership
YUP
As I understand it ---- for purposes of the claims court and the case that went to SCOTUS (same or not?) ---- the thought process was something like --- NWS is so insanely obviously illegal - "on its face a taking" (all our equity profit?) --- that it was best to attack at what was viewed as the most vulnerable GOV action (BO starting the NWS - all profit) . We lost . Yet I am not sure there was no logic there at thinning the issue to one viewed by the plaintiffs and their attorneys as the most blatant clear illegal act
Others have argued for 5 10 ++ years they suits should have gone after HERA ---- I assume Charter Act and ... and
That is way beyond me --- . I see the logic of that!!!! I also see the logic of trying to slice off what was viewed as the most vulnerable action by GOV
Lawyers did not prove themselves right or particularly able? We suffered and they got paid
Yes, of course, The Cheat Code...why didn't we think of that?
That's the Answer
I will try to Google the cheat code.
We cannot seem to breakthrough $1.46 today.
The day is young still, and tomorrow is Friday
Load up now before the Buying Stampede gets here
FNMA/FMCC GET SOME NOW
Look at the facts, not "experts" opinions. Fannie & Freddie had $95 billion in capital before the fraudulent "temporary" conservatorship. Despite their conservators, including @MarkCalabria , swindling $301 billion of their equity they still have $125 billion.
— Guido da Costa Pereira (@GuidoPerei) April 25, 2024
Experts or facts?
Fairholme replies due in June and July
Investor Relations call a joke...it's like a slave owner talking to slaves they gunna get more bread and butter next week.
Trump only one that knows the reparations due, an will/can do anything.
Biden checked out, right? Pause.
All good.
Trust in Jesus as Savior as He THE only one that can pop-N-lock the FnmaFmcc Twins...
Hope of Hunter and Nancy loading and Obama/Biden stop stealing is a .0005% chance...
Do not fret over those who do evil and do not envy those who do wrong as they wither quickly like grass and wilt like tender plants
When yah get set free...yah feel free indeed...twins will be set free indeed imho
Font 2? I need to move to the next level reading glasses. Damn it.
Clearly you did not read the fine print with the asterisk that says "wishful thinking".
It's at the bottom of his post printed in font size #2
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