Fannie Mae-No Politics (FNMA)

[navycmdr]

I spent the weekend speaking with some great leaders at Fannie Mae and Freddie Mac. There are some really great people inside of these businesses, and the good news for them is there is a lot of upward mobility, to earn and grow MORE!

— Pulte (@pulte) March 16, 2025

[jcromeenes]

If you're talking about the Lamberth case, someone did some calculations before and estimated it worked out to about 8 cents per share. I don't believe FNMA Commons were part of the case.

[TightCoil]

Ever wonder what constitutes Fraud?
Fraud typically involves intentional deception or misrepresentation, often for personal or financial gain, and can manifest in various forms such as false statements, concealment of facts, or dishonest conduct intended to mislead others.
Here's a more detailed breakdown of what constitutes fraudulent conduct:
Core Elements of Fraud:

Intentional Deception:
Fraud requires a deliberate attempt to mislead or deceive another person or entity.

Misrepresentation or Concealment:
This can involve making false statements, omitting crucial information, or presenting something as true when it is not.
Materiality:
The false statement or omission must be significant and relevant to the situation, causing the person to rely on the false information.
Reliance:
The person who is deceived must rely on the false information or misrepresentation when making a decision or taking action.
Harm or Injury:
The fraudulent conduct must result in some form of harm or injury to the person who relied on the deception, such as financial loss or other damages.

Examples of Fraudulent Conduct:

False Statements: Making intentionally untrue statements about a product, service, or situation.

Concealment of Facts: Deliberately hiding or failing to disclose important information that is relevant to a situation.
Forgery: Creating or altering documents or signatures with the intent to deceive.
Embezzlement: Misappropriating or stealing funds or assets that one is entrusted to manage.
Financial Statement Fraud: Falsifying financial records or reports to mislead investors or creditors.
Insider Trading: Using non-public information to gain an unfair advantage in the stock market.
Mortgage Fraud: Obtaining a mortgage through false or misleading information.
Tax Fraud: Intentionally evading taxes or making false statements on tax returns.
Identity Theft: Using someone else's personal information without their consent.
Fraud is a deliberate act (or failure to act) with the intention of obtaining an unauthorized benefit, either for oneself or for the institution, by using deception or false suggestions or suppression of truth or other unethical means, which are believed and relied upon by others.

[Yo Frankie]

$812M.
What does that work out to, 50 cents per share or less?

[TightCoil]

Put Me on Ignore and
watch Fannie Launch
to The Upper Regions

[TightCoil]

ELIMINATING MORTGAGE FRAUD
and FRAUD IN GENERAL will put us
back in The Game - Put Release in the back
of your minds and put RE-LISTING and
ELIMINATING MORTGAGE FRAUD and FRAUD IN GENERAL in the front of your minds.

[tzebedee]

right on lol.. inflation is real when people are talking about plastic houses for the masses from their stick built towers lol.

[ron_66271]

Monday St Patrick Day Colors are GREEN.

✅✅✅✅



Ron

[RickNagra]

Sure. Also eliminate kitchens. Just do take out. And probably can get rid of bathrooms. Just go outside.

We are hearing a lot from Pulte about our recommendations on how to improve FHFA and FnF. I think the answers can be found in 3 places. First, there is a need for frugal houses to be planned intelligently....eliminating bad design and bad features. I think the target square foot size should be between 1000 sqft and 1300sq. for a 3 bdrm 2 bath home. That should accomodate most small families. Next, don't ever feature a fireplace....where will the owners ever find firewood? Instead, put in an entertainment center....a place for a good TV. Also, never feature a wet bar! Also, instead of putting in bath tubs, put in nice showers. The objective should be a very nice home built on a frugal budget. The objective should be a very good home with no waste.
Next, in order to build a home at a frugal price it will need to be built using the most modern technology and that is 3-D printing. This is something FnF should incourage by awarding the top 10 developers of the technolog cash rewards on an annual basis for their achievements.
And 3rd FnF should give the buyers of homes made with the new technology a price break on their mortgage. This seems fair as the technology evolves and is perfected.
So, by following this path, FnF could save on purchasing mortgages of 19 homes and afford to use the saving to buy the mortgage of a 20th home. That is an improvement of 5%.

[imbellish]

Pre-09 FNM and FRE would buy MBS to maintain the rate spread between the US 10Y and the MBS market. They couldn't in conservatorship. It used to be 150 basis points, now it's more like 350, because the Fed took over buying MBS for so long and so much and they realistically can't anymore due to their own negative equity.

Economically speaking, the quintessentially Leninist experiment of printing money to direct economic activity (Fed buying MBS) comes to a close, and the private market takes over maintaining the spread, which I think will have the effect of 1) lowering borrowing costs on the debt side of the equation and 2) lowering asset prices on the equity side of the equation due to a lack of surplus of Fed funbucks being injected. In the words of Andrew Mellon (Bessent is a Mellonist), "enterprising people will pick up the wrecks from less competent people".

One big uncertainty is how the Fed will (have to?) respond if they are released. QE/MBS money was never supposed to "leak" outside of the financial system and into the real economy but release is a potential vector. Part of the reason I suspect some people in power wanted it permanent.

Post-conservatorship so long as they don't get back into rate arbitrage business and keep parallel to their stated mission, they'll continue to make money on their monoline insurance business as they always have and will be able to price it out with or without government support. Biggest hurdle is probably finding qualified actuaries.

[Gusued]

Trump: “I want a dynamic country where private enterprise carries the day, not the government.” pic.twitter.com/itB4FPgGBI

— unusual_whales (@unusual_whales) March 16, 2025

[Jxx]

[Jxx]

[TightCoil]

Repeat of Previous Post but with emphasis on what counts:

ELIMINATING MORTGAGE FRAUD and FRAUD IN GENERAL will be A MAIN FOCUS at Fannie and Freddie...

[krab]

I really think Ackman presentation was a setup, it didn't reveal anything conclusive !!!

[jcromeenes]

I thought the same thing about the Ackman presentation back in January and we went down instead. I clearly have no idea but am still excited for Monday.

[Guido2]

Thanks Roger. Here it is:

https://x.com/i/grok/share/CsZZ3fGygQ6ItAt8waSNsLGxN

3 and out.

[jog49]

Who wants to park their two $80,000 vehicles in front of a cracker box?

[jog49]

"is chamath into it too? i don't think that is good but i am not sure. he is a manipulator if my memory serves right"

At this point in time, I don't give a diddly damn. If he can manipulate Fannie and Freddie out of those suppressive conservatorships, HE'S THE MAN!

[RogerWillco]

Guido2, you've got to use the 'Copy share link' arrow on the left to share Grok's answer rather than pasting the URL displayed at the top of your screen.

[MRJ25]

Come Monday it'll be alright....

[TightCoil]

FNMA
I JUST DID A GOOG SEARCH FOR
"BUY RATING FOR FNMA STOCK" and here's what it answered:

Currently there's no upside potential for FNMA, based on the analysts' average price target. Federal National Mortgage Association has a consensus ratig of Moderate Sell which is based on 0 buy ratings, 0 hold ratings and 2 sell ratings. The average price target for Federal National Mortgage Association is $2.50.

[Boat Shoes From Yahoo]

Boom! I've never looked forward to a Monday in my life.-Boat

[krab]

DOGE visiting FHFA soon !!

[Guido2]

For those wondering if you are entitled to dividends, here's what GROK has to say:
https://x.com/i/grok?conversation=1901356676143534384

[TightCoil]

Here's a quote from Pulte
“Eliminating mortgage fraud and fraud in general will be a main focus at Fannie, Freddie, and the Federal Home Loan Banks.“

[bobstruths]

We are hearing a lot from Pulte about our recommendations on how to improve FHFA and FnF. I think the answers can be found in 3 places. First, there is a need for frugal houses to be planned intelligently....eliminating bad design and bad features. I think the target square foot size should be between 1000 sqft and 1300sq. for a 3 bdrm 2 bath home. That should accomodate most small families. Next, don't ever feature a fireplace....where will the owners ever find firewood? Instead, put in an entertainment center....a place for a good TV. Also, never feature a wet bar! Also, instead of putting in bath tubs, put in nice showers. The objective should be a very nice home built on a frugal budget. The objective should be a very good home with no waste.
Next, in order to build a home at a frugal price it will need to be built using the most modern technology and that is 3-D printing. This is something FnF should incourage by awarding the top 10 developers of the technolog cash rewards on an annual basis for their achievements.
And 3rd FnF should give the buyers of homes made with the new technology a price break on their mortgage. This seems fair as the technology evolves and is perfected.
So, by following this path, FnF could save on purchasing mortgages of 19 homes and afford to use the saving to buy the mortgage of a 20th home. That is an improvement of 5%.

[DCBill]

Think of these ideas; all of the "junk fees" on which the lending community and its cohorts make money, could be reduced by GSE strategic entry into some of those markets; including the crazy 6% the NAR keeps asking buyers/sellers or negotiate downward (but it's member constantly fight); the appraisal and Title search fees that could be dramatically (even doing away with)?? Permitted SE "pilot programs" already are cutting some of those costs.
Just keep it away from Warren, Warner, and a few others, or the positive effects and savings, never will emerge........and remember, I am a lifelong Democrat..

[Wingsjr]

They will no longer have to pay for the FHFA. Their funding is 100% FnF, not taxpayers.

[Patswil]

I have found that the ignore function does in fact work very well.   You would no longer see posts from him or anybody else you would ignore 

[navycmdr]

what would we do without our daily

dose of the always cheerful JackWagon

[MRJ25]

There are appr. 15000 employees at FNF and appr. 1500 employees at FHFA.
That ratio is insane. 1 to 10 to be regulated. Regulation could be done with 10 people.

[CCSAB]

A little old but will some articles that will help provide some insight into mortgage market.

https://www.schwab.com/learn/story/us-agency-bonds-what-you-should-know

https://www.richmondfed.org/publications/research/economic_brief/2023/eb_23-27

Without solving for supply, as one poster said earlier, this administration will be chasing its tail trying to bring down housing costs via cheaper financing.

[RickNagra]

We are working very hard to make buying & owning a home more affordable.

— Pulte (@pulte) March 16, 2025

[Clark6290]

$$$BOOM!!! 🙈 Things ARE looking UP for our GSEs. I will FINALLY see a $$YUGE increase in the value OF MY shares. Stay STRONG my Navy pal and GSE brother. Lowering one to attack others is a weakness, stand tall.

[RickNagra]

Monday 6 pm EST.

Monday Special Report will come to you live from @HUDgov with behind the scenes details and an interview with Secretary Scott Turner @foxnews pic.twitter.com/G5sBIYqjxj

— Bret Baier (@BretBaier) March 15, 2025

[FOFreddie]

Hi CCSAB - they need to reduce staff at the FHFA and redundancies at FNMA and FMCC. Otherwise they need to release to eliminate the uncertainty around the release of the GSEs by releasing them with enough capital and USG credit enhancement. The UST and FHFA need to come up with enough capital and SPSA credit enhancement to get a AAA rating or perhaps a solid AA+ without a credit watch. Just the certainty that will come with release and the reduced overhead by reducing headcount will lower MBS spreads to levels they were before Conservatorship.

[jog49]

"Zoom in on the documents on Pulte desk please."

It's just a prop Rick. He's looking at porn on that laptop!

[GreenShoots]

If you want to be in a position of calling BS and have people believe it, you can't engage in the same practices as the BS folks. Even if it is a joke (which is certainly how I saw and most reasonable people would have seen RickNagra's post). Point is, if you have a following (and a reputation built over years) of others, don't waste that position on vitriol or jokes against the BS folks, keep to the cause (as it is been over 15 years) and see it through to the end as you started it. My 2 cents. Responses will prove my point.

[GreenShoots]

I have mentioned questioning things before. I said trust but verify. I was lambasted by navy for that and heard all sorts of "you have not been on the board as long as we have". I am just glad to see that navy, did in fact, call it out.

[stockanalyze]

“the Net Worth Sweep causes permanent and ongoing harm to private shareholders by making it impossible for them to ever receive anything from the Companies, and by giving everything to Treasury.”

[jeddiemack]

Competition for funds will lower the rates. They'll also spur on Alt A type lending and liar loans.. perp'd by the banks that caused mortgage melt down in 07/08. Yes, lenders caused this... not f&f; which only buy loans and have standards. Its the competition amoungst those other entities that caused that.

So, create a market for competition but then understand that it comes with risks. figure out how to minimize the market risks.. without over regulating.

[navycmdr]

exactly - Banksters want the GSE status quo ... lol and if Whalen is against release

using MBS as his excuse - you know its a GREAT IDEA !

keeping the GSEs in conservatorship DOES NOT provide any additional

security to their HIGH QUALITY Mortgage LOANS - they are the HIGHEST

avg FICO Score loans and have only a fraction of the rest of the mkt ... stop the LIES

[krab]

Just look at the post carefully, and who placed it on our board. That's why I was asking the question !!!
Navy verified that the photo was modified when it was placed here.
Everyone should make sure they are NOT posting false or doctorine information !!

[jwood9207]

GSE guaranty fees have risen dramatically in conservatorship, to allow banks to more easily compete. Lower those fees and cost of mortgages goes down. The GSEs will have the same implicit guarantee that Chase, Citicorp, Bank of America et al have now. Except that guarantee was made explicit in the fall of Silicon Valley Bank and Signature Bank. The government is not going to let Fannie and Freddie fail.

The only solution to rising housing prices is to build more houses.

[stockanalyze]

doctrine photo? please don't. it is not a joke.

[stockanalyze]

is chamath into it too? i don't think that is good but i am not sure. he is a manipulator if my memory serves right

[stockanalyze]

note that he did not say employees at fhfa but at fannie mae and freddie mac. of significance.

[stockanalyze]

you will get through, have faith. at least it is close to $6 now, i had to sell when it was $0.40. these fellow travelers and others ruined many lives. i wish them, demco and others go to jail

[Donotunderstand]

Make purchasing a home more affordable...."PULTE"

SOLID
AGREE
I ASSUME THIS GOAL IS IN THE CHARTER OF THE ONCE AGENCY FNMA

I hold a bunch (sold a bunch bought at crazy low prices - just had to) ---- and will hold this bunch until zero or 25 - 45

Full on long

Yet - what will Pulte do for us that makes purchasing a home more affordable ? (The cost of buying a home is not reduced in any countable way if the entire payroll expense of FHFA FNMA and FMCC were wiped out ---- not even large enough to be called a rounding error)

Will Pulte make FNMA a $$ supporter somehow of building more homes ?
Bluntly - I have not idea how any POTUS (be it Biden or Trump) can influence the cost of purchasing a home DIRECTLY.** In theory - a lower deficit means lower inflation means lower interest rates but the 4.5T tax cut extension still on the table - guarantees huge deficits. I imagine that offering tax incentives greater than current ones (deductibility of interest) might work for some buyers in short term. How about allowing home owners to deduct 4X the mortgage interest they pay from taxes? ---- (yet - after X months - that might simply drive up prices ?)

ANYONE ---- how would freeing up the ownership stolen from us - make purchasing homes more affordable because we once again own F and F ? (To me the reason to be long is that F and F ownership was stolen from us - and in some form we need to be repaid for the taking)

** - While a radical idea (call it D or R or libertarian I do not care) - GOV on its own using F and F AS LENDERS - offers a select group of buyers (use a lotto !!!) 2% 30 year mortgages. If done for only a select group that group gets access - and the rest do not face higher home prices ? at least not for say 6 months ..... (major GOV interference in market forces often boomerangs) . Sorry - thinking out loud how F and F can publicly and visibly - as free equity companies - help people purchase homes