Fannie Mae Preferred S (FNMAS)

[trunkmonk]

Grab some shares under1?

[trunkmonk]

Those are as illegal as theft extortion or anything anyone is jail for.

[44centsAKAchoccake]

The SPSPAs are pretty clear on the possibility of dilution for the commons.
https://www.fhfa.gov/Conservatorship/Pages/Senior-Preferred-Stock-Purchase-Agreements.aspx

[44centsAKAchoccake]

The SPSPAs are pretty clear on the possibility of dilution for the commons.
https://www.fhfa.gov/Conservatorship/Pages/Senior-Preferred-Stock-Purchase-Agreements.aspx

[Fanatical Infidel]

See u below 1 for JPS.

Where will commons be if that happens?

I am not emotionally attached to my JPS like the common holders are on the FNMA board so I wouldn't be upset if it goes under a $1...I would buy more

Commons to the moon!!!

[trunkmonk]

See u below 1 for JPS.

[Fanatical Infidel]

Your reply contradicts your previous post on volume, which is it?

Not at all...if you look at the data on the preferreds when I wrote my post there were many issues of preferreds going up in price on much higher than normal volume.

Yesterday had one preferred, not several, with higher than normal volume and 90% of that volume wasn't associated with a drop in price - so no contradiction what so ever...but you knew that.

Commons to the moon!!!!

[trunkmonk]

Your reply contradicts your previous post on volume, which is it?

[Fanatical Infidel]

preferred volume high today, mostly selling

The only preferred I see with high volume is FMCKJ, with a little over 1.8 million shares traded. Looking at the intraday chart 1.6 million of those shares came with no price decline....I would disagree with your assessment.

[trunkmonk]

preferred volume high today, mostly selling

[stockprofitter]

Below a buck soon $1

[EternalPatience]

Or probably dumping if they are a SELL side transaction

[Fanatical Infidel]

Several of the JPS (FMCCS, FNMAM, FNMAS,FMCKJ,FNMAK, FNMAG) had much higher than normal volume...Maybe a HF is starting a position?

Hopefully they know something more than we do...

[Ace Trader]

I agree! Waiting for the bottom or double bottom to buy a BIG chunk of FNMAT

[trunkmonk]

Will preferreds accelerate to the downside? They are sinking at a high rate much higher than commons. Amazingly people ignore all the facts about commons because they are owners, if they fail so will preferreds. There will be no receivership nor dilution other than in fantasy land.

[Fanatical Infidel]

Under 2 coming. Must be that imminent par coming?

Definitely flirting with that amount....Been buying FMCCG since it has been one of the cheapest 50's

I will look to add some FMCC when it goes under 40 cents

[trunkmonk]

Under 2 coming. Must be that imminent par coming?

[trunkmonk]

Negative down to 2.14 today. Anyone else borrow the kitchen sink on preferred buying spree before these huge drops? Just curious.
Looking to pick up some below 1.

[trunkmonk]

Down over 1.7%. 2.19

[trunkmonk]

T board closed to posting. I’ll update here. T mostly sells today, same for S.

[trunkmonk]

Cmon 2, then 1. Counting down.

[trunkmonk]

Down 5%, yes

[trunkmonk]

Come on Ps to 1 dollar, keep on dropping. Lol.

[trunkmonk]

when one type of stocks only offense is to put down the other stocks, while winning nothing in court, which has happened for several years now, you know they got nothing. buy much lower, its going there.

[trunkmonk]

writedown ridedown, same thing, Ps going down. preferred cases have spoiled the courts chances of anything. their approach ruined it for all of us. only option is to ride it down with the implosion coming this year, and get in on P share rebound at the bottom. its gonna happen, and preferred cases in court caused it all. they truly messed up in SCOTUS. too bad for all those going into debt buying shares more than double what they are now, just borrow more money and buy in at the bottom instead of blaming commons for all their ill efforts.

[trunkmonk]

Lie cheat and steal. How else? Do u not follow their opinions and fantasies over the years in receivership to only way out is dilution pollution of commons. Cmon man.

[Fanatical Infidel]

How are the P's trying to screw the C's?

[trunkmonk]

Another day of GSE Ps trying to screw the Cs, greed always fails at some point. Let’s hope reason prevails. Many entities can make billions with common shares at fair value, it’s up to gov and treasury to stop stealing and make more than ever legitimately

[trunkmonk]

There are more opinions 6 ways from Sunday on every outcome imaginable. Almost none credible. It’s good to diversify.

[Fanatical Infidel]

I mainly have the variable preferreds...I don't think dividends will come into play

FMCCG, FMCCS, FMNAL, FMCCH, FMCCL, FMCCM, and FNMAP. About 80% $50's, 19% $25's and 1% FMCC

Overall markets will crash before anyone sees par.

Don't think you are mistaken but I would really like it if goes in reverse order.

[trunkmonk]

Which ones u got? Overall markets will crash before anyone sees par.

[Fanatical Infidel]

do i hear 1 dollar coming?

I don't see that happening anytime soon but I would be a buyer at that price...Right now I am sticking with cheaper 50's

[trunkmonk]

do i hear 1 dollar coming?

[trunkmonk]

Cmon 1???

[trunkmonk]

New talks of 12 to 18 month settlement, but Ps went up when it first came out, peaked, and now going down, reality of situation for Ps?

[trunkmonk]

Come on 2.

[Fanatical Infidel]

Definitely trending towards $2...we haven't had good news in a while.

FNMAS/FNMA ratio is a hair over 6 to 1. That has been fairly consistent over the past year.

If that ratio continues then a $2 FNMAS means .33 FNMA...

[trunkmonk]

Cmon 2

[trunkmonk]

Below 2 again? then what, i watch for a buy.

[Fanatical Infidel]

Warning : Impac Mortgage preferred just went to ZERO similar to what could happen to FNF Preferred

As a FnF common shareholder you better pray this doesn't happen to FnF preferred...They diluted the shit out the Impac common.


And who do you think made out better in this deal...Impac common or preferred?!!

...

Impac Mortgage Holdings, Inc. Announces Date of Redemption of Series B Preferred Stock and Series C Preferred Stock

IRVINE, Calif., October 28, 2022--(BUSINESS WIRE)--Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the "Company") today announced it intends to redeem all outstanding shares of the Company’s 9.375% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share (CUSIP: 45254P300) ("Series B Preferred Stock"), and all outstanding shares of the Company’s 9.125% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share (CUSIP: 45254P409) (the "Series C Preferred Stock," and together with the Series B Preferred Stock, the "Preferred Stock"). Preferred Stock held through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depository Trust Company.

The redemption date will be November 15, 2022 (the "Redemption Date"). Each outstanding share of Series B Preferred Stock will be redeemed for (i) thirty (30) shares of the Company’s 8.25% Series D Cumulative Redeemable Preferred Stock, par value $0.01 per share ("New Preferred Stock"), and (ii) 13.33 shares of the Company’s Common Stock, par value $0.01 per share (the "Common Stock") (collectively, the "Series B Redemption Price"). Each outstanding share of Series C Preferred Stock will be redeemed for (i) one share of New Preferred Stock, (ii) 1.25 shares of Common Stock, and (ii) a 1.5 warrants to purchase the same number of shares of Common Stock at a purchase price of $5.00 per share of Common Stock (collectively, the "Series C Redemption Price," and together with the Series B Redemption Price, the "Redemption Price").

[stockprofitter]

Warning : Impac Mortgage preferred just went to ZERO similar to what could happen to FNF Preferred

[trunkmonk]

somebody has to buy on the way down. when the correction really starts, all the genius's will say its bottom many times.

[Fanatical Infidel]

BOOOM I see several preferred dropping 50% next year.

Any logic for this epiphany?...or are you just pulling it out of your ass.

If that happens I might look to buy again.

[trunkmonk]

BOOOM I see several preferred dropping 50% next year.

[stockprofitter]

Some are saying $1 coming - hope it’s not true

[trunkmonk]

I will just watch preferred stocks today. It will tell me everything I need to know in court today quickly.

[trunkmonk]

It looks like common stocks don’t care about stalemate. Preferred has most to gain or lose in share price as well.

[trunkmonk]

Nope.

[Fanatical Infidel]

Bounced back over 3...will it hold?

Was able to get more FNMAP. Hopefully we get a good verdict and it pays for itself

[Fanatical Infidel]

below 3 again, oh my.

This downturn is a chance to buy some of the cheaper 50's...