Fannie Mae-No Politics (FNMA)

[ada]

A couple of those 2.77 buys were mine

[Patswil]

Sell Volume exceeding Buy Volume

[Release us]

They can write them.

But they can't pass them.

This congress can only write negative bills and pay off donors

bummer

[navycmdr]

what part of - The MKT OVER REACTS EVERYDAY

and you can PROFIT FROM THAT FACT ....

is it that you need further explanation on ?....

you've been here loooong enuf to WITNESS IT

numerous times OVER and OVER again ....

[ada]

Gap filled. Order filled. FNMA gap is like money in the bank.

[Clark6290]

Hopefully you sold at the exact high today and will buy back in at the exact low.

If we could all have your trading prowess it would be great.

[Clutch29]

Only 2 fingers have lost grip of the branch its the last two to worry about

[robpad]

I think it was just trying to fill a gap

[wil318466]

Hang on the to tree limbs!!!

[navycmdr]

when the mkt is BUYIN' .... take PROFITS

when the MKT is SELLIN' .... take ADVANTAGE of IT !

[Donotunderstand]

Hope you are right

I own a bunch new common (and still a bunch of preferred)

Equity is equity in many ways --- very hard to repay preferred stock holders to PAR and nothing to common ....

all IMO as the market thinks otherwise - but as far as I see - based on one comment ?

[Spicoli]

Ahh the good ‘ole days of huge swings. Grab your Dramamine!!!

[wil318466]

Honestly we've seen a few of these days in the past. Large dip and then a decent recovery.

Let's see what happens.

[jamesthefifth]

:D.

[Patswil]

Pretty Serious Volume !!

9.2 million

[stink stack]

Told yas they would shake out the weak feeble hands.

[navycmdr]

the GSE Rollercoaster ... NOT for the faint hearted

TRADERS LOVE IT ! ...

[budmgd]

Bear trap???

[wil318466]

If they are shaking the tree they sure are shaking it hard.

[Clutch29]

Squeezing the F out of us but im not giving in

[955]

Me too FNMA!

[tutt1126]

https://www.insidemortgagefinance.com/issues/imfpubs_igse/index.html

[NobodyFromNowhere]

good tax write off for the average joe

[Jason-H]

Recent gap closed. Was wondering how it gets closed. Now it is! Great

[Cubshawk]

What just happened? Why the sudden fall?

[wil318466]

This hurts. -5200 swing just today

[MoCubano]

Scare tactics don't working us looking longs! Try harder...long and very strong!!

[Cubshawk]

Bill to stop funding housing trust fund -


It appears the anti-GSE folks in Congress are using that bill as a way to force the GSE's to make full net worth sweep payments. They're against the housing trust fund - I assume because it interferes with their divided sweeps and wind-down of the GSE's. And thus, the bill introduced today is just a convenient way for them to extort full payment from the GSE's and is in no way something good for us.

Previous article pertaining to funding the trust fund:

However, some lawmakers tried to stop the lifting of the suspension of the NHTF, including House Financial Services Committee Chairman Jeb Hensarling (R-TX). He responded to the announcement of the first contribution saying that the GSEs were at the center of the financial crisis and that “diverting assets from taxpayers to housing trust funds re-invites the same politically directed lending abuses” and could lead to the next crisis.

http://www.nmhc.org/News/Fannie-Freddie-Contribute-$186M-to-Housing-Trust-Fund/

[navycmdr]

got a bunch more Freddie on the DIP

Dry Powder ...



price below - outside lower Bollie Band and RSI below 20 (18.259)
price always springs back inside Bollie Band ...

BE A TRADER .... NOT a LEMMING

[Cubshawk]

jog49 I read it as a method to stop Fannie and Freddie paying for the Obama ACA medical insurance subsidies. Nobody seems to be able to say just stop taking F&F money to pay for these subsidies so we have to play political games by introducing legislation. If it works....fine!

I think the obamacare subsidies were being funded (in part) by the net worth sweep - not the housing trust fund. Stopping the housing trust fund won't have any effect on the subsidy and/or general treasury funds.

[Jason-H]

true. I bought the dip

[jog49]

I read it as a method to stop Fannie and Freddie paying for the Obama ACA medical insurance subsidies. Nobody seems to be able to say just stop taking F&F money to pay for these subsidies so we have to play political games by introducing legislation. If it works....fine!

[Cubshawk]

navycmdr When the mkt Lemmings OVER REACT -

Recognize it ... Take Advantage of it .... and TRADE ACCORDINGLY

Fannie & Freddie making $Billions CASH PROFITS each QTR

liquidating Shareholders & Assetts is a processs of Receivership & Bankruptcy

NEITHER ONE APPLY to FANNIE and FREDDIE

I hear what you are saying - but the net worth sweep didn't follow any legal precedent and it's been sustained thus far. So far the courts are saying the Gov can do basically anything it wants to with the GSE's.

Don't get me wrong - I'm fully invested in Fannie and Freddie. But I don't know if 'the law' is necessarily what's going to win this for us (if we do prevail). Logic tells me this is too big of a gamble to bet heavily on the right thing happening. But I like to think the rule of law still matters in the US. Maybe I'm a naive fool...

[Warhead]

YEEEHAWWWW! Buy the dip!

[Cubshawk]

jog49:

What? We've actually got some friends in Congress?????!!!!!!!

I don't know if I read that as a friendly position. Isn't this a way to force the GSE's to continue to make full dividend payments? In other words - if FHFA only makes a partial payment then they can't contribute to the housing trust fund. It's a way to force the GSE's to make full payments.

Am I reading this wrong?




H.R.4560 - To suspend contributions by Fannie Mae and Freddie Mac to the Housing Trust Fund during any period that the full required dividend payments under the Senior Preferred Stock Purchase Agreements for such enterprises are not made, and for other purposes.

[HoldenWalker99]

Administrative solution does not preclude a legislative one. Congress could write Moelis word-for-word into a bill and implement it. Just because it was intended as a administrative solution (thinking Congress wouldn't act) doesn't mean it can't be implemented legislatively, probably with some edits.

[navycmdr]

When the mkt Lemmings OVER REACT -

Recognize it ... Take Advantage of it .... and TRADE ACCORDINGLY

Fannie & Freddie making $Billions CASH PROFITS each QTR

liquidating Shareholders & Assetts is a processs of Receivership & Bankruptcy

NEITHER ONE APPLY to FANNIE and FREDDIE

Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.
In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

In law, receivership is a situation in which an institution or enterprise is held by a receiver—
a person "placed in the custodial responsibility for the property of others, including tangible
and intangible assets and rights"—especially in cases where a company cannot meet
financial obligations or enters bankruptcy.

[HoldenWalker99]

Easiest way to cash out is load up on Fannie/Freddie shares and save the GSEs. We should all hope that they're corrupt and greedy. Helps us.

[eltatriton]

Does anyone have anything thoughts on the new GSE Jumpstart bill? Looking around on the internet, people say it's bad news?

It looks like a standalone bill, while the original one was attached to a spending bill? This means the house and Senate will need to vote on it.

Glen: Given the limited information yesterday, it looked like Moelis was the plan, but today is a new day and with all the new information coming to light and the new GSE extension bill, how do you feel about Moelis being implemented? Moelis was purely administrative, but it looks like with will be dealt with legislatively seeing so many parties have their own ideas.

[stink stack]

Porker is a Puke

[jog49]

What? We've actually got some friends in Congress?????!!!!!!!

[kthomp19]

Corker-Warner/Moelis is the plan.

This doesn't make any sense. The Moelis plan was drafted as a purely administrative reform. We don't have nearly enough information about Corker-Warner II to make any comparisons yet.

[snapple]

8 years of waiting I want my company bk that u stole all u pos

[NobodyFromNowhere]

Every time I hear the name Mike Bright, the stock tanks. I think Mike Milken planted him to destroy current shareholders

[kip128932156]

https://www.congress.gov/bill/115th-congress/house-bill/4560/all-actions?r

[FreeFNMA]

Its funny they waited this long to try and do something. they know that if they wait till after Jan 2nd they will have no say in the matter....good luck getting this to pass

[stockprofitter]

One of the two will have a better ratio of return and put all skeptisicm to rest. $$$$$

[ZZ Fannie]

Both Hensarling and Corker want to cash out so that they'll be set for life after they leave Senate. Political Greedy Vultures... SO GROSSED OUT!

[navycmdr]

Short Takes: Not Happy with Jeb’s GSE Comments
Lame Duck or Not…
White House Leaning Toward Michael Bright
Granite Ramps Up Commercial Commitments

Thursday Dec 7, 2017 ... By Paul Muolo ... [e-mail]



Rep. Jeb Hensarling’s comment Wednesday about his (continued) desire to euthanize Fannie Mae and Freddie Mac didn’t go over well with several GSE partisans in Washington, DC. The Community Mortgage Lenders of America said the Texas Republican’s “proposed course of action” would be harmful to small and medium-sized originators…

One GSE watcher who used to work for the Mortgage Bankers Association dismissed much of what Hensarling said, noting that he’s a “lame duck.” Hensarling will retire from Congress after his term ends. However, if the mortgage industry wants to see a GSE/housing reform bill in 2018 any legislation will have to get past Hensarling, who chairs the powerful House Financial Services Committee…

We understand that it’s only a matter of time before the White House officially nominates acting Ginnie Mae President Michael Bright to be the permanent head of the agency. The previous candidate for the job, mortgage executive David Kittle, got tired of waiting to be nominated and threw in the towel…

Commercial mortgage REIT Granite Point Mortgage Trust said it closed additional senior floating rate commercial real estate loans (commitments) of $252 million in October and November. Granite was spun off by Two Harbors this fall…

[navycmdr]

New CFPB Acting Director Mulvaney Moves Quickly to Intervene in Legal Case

Thursday Dec 7, 2017 ... By Thomas Ressler ... [e-mail]



Under new management, the Consumer Financial Protection Bureau this week took action that may be a harbinger of a more laissez-faire approach to regulatory enforcement.

In the spring of 2015, the bureau sued Ohio-based Nationwide Biweekly Administration and Loan Payment Administration in federal district court, accusing them of misrepresenting the interest savings consumers would achieve through a biweekly mortgage payment program. The defendants collected roughly $49 million in setup fees between 2011 and 2014, according to the bureau’s account.

This past September, the CFPB got a split verdict in a ruling from the U.S. District Court for the Northern District of California in the case. The agency won a $7.9 million civil penalty from the defendants, but lost on $74 million in sought-after restitution. Claiming financial distress, the defendants asked the court to hold off on collecting the civil penalty.

On Nov. 27, the day Mick Mulvaney assumed control of the bureau, the agency filed a brief insisting that the defendants be required to post a bond if the penalty is delayed. Two days later – reportedly after Mulvaney was informed about the brief by an attorney representing the defendants – the CFPB reversed course.