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Mr. Brooge found an analyst that says Commons headed to $3.27 and $4.22.
...The American dream. Foreclosures and taxes no one can afford, let alone their mortgage...
https://www.timesunion.com/state/article/multiple-lawsuits-pending-ny-reexamine-tax-18707988.php
Hence the name of " Karen Choke-hold" 😁
I don't think Trump will hire him or Clabria back. They talked a good game, but when it came time to move the needle, they waffled, to mad MAx of all people. Calabria especially will be avoided because he was a Pence groupie, and Pence will not endorse Trump. There will be new people mostly. He'll only carrry over those who did their jobs last time.
...Steven "shark suit" Monchichi Munchkin Mnunchin.
I wouldn't trust him
from IMF News .....
Steve Mnuchin, the Treasury secretary in the Trump administration, has increased
his profile of late, first investing in the ailing New York Community Bancshares and
then advocating to buy Tik Tok. Some mortgage professionals have suggested to
us Mnuchin wants a job in a new Trump White House (if it happens), possibly taking
another run of Treasury.
And if that happens, the odds of Fannie Mae and Freddie Mac being released from
conservatorship will increase several-fold…
Hedge-Fund Mgr John Paulson Got Trump Elected, & Now He’s Got a Favor to Ask
— Cmdr Ron Luhmann (@usnavycmdr) March 15, 2024
Nothing big, just privatize Fannie Mae & Freddie Mac when you get a chance. https://t.co/tls9Dve834
posted on X ...
Banks run the global economy. GSE priv is all but assured bc banks will a MBS market already $FNMA $FMCC (2/16/24) "Banks Piling Back Into Everything From Mortgage Debt to CLOs" https://t.co/h58k4evyl5 via @YahooFinance
— Just Daniel (@real777mellon) March 17, 2024
skateboard quoting fake sources and
making more empty predictions ...
Quotes an Sources: The Biden Admin will enact housing finance reform. https://t.co/057P4An8Hm $FNMA #FANNIEGATE
— Fanniegate Hero (@DoNotLose) March 17, 2024
$Booom ! - $Effective March 29, 2024,
https://www.scotsmanguide.com/news/industry-watch-fannie-announces-asset-verification-enhancements-and-more/#:~:text=Fannie%20Mae%20has%20announced%20new,times%20and%20potential%20cost%20savings.
Industry Watch: Fannie announces asset verification enhancements and more
Effective March 29, 2024, Fannie Mae single-family lenders can use a single
12-month asset verification report in the Desktop Underwriter validation service
to identify recurring deposits in the applicant’s digital bank statement data to
automatically validate income and employment, as well as assets, in one step.
The same report also can be used to identify and consider the applicant’s positive
rent payment and cash flow history, which may benefit more qualified borrowers
who have limited or no credit history.
Fannie Mae has announced new capabilities in its automated underwriting system
to further streamline the mortgage origination process for lenders and homebuyers,
enabling improved loan quality control, faster cycle times and potential cost savings.
Those are beautiful numbers…
yup - when GSE dividends start again they will be .25 - .50 at least
.25 X 572,250 shares = $143,062 / a year if only .25 /share ...
Q. Does Federal Home Loan (FMCC) pay a dividend?
A . quarterly cash dividend of $0.25 per share of Class A Common Stock. The quarterly cash dividend was payable on June 30, 2008 to stockholders of record on June 12, 2008.
If any house has value, it sells itself, and more people need to do just what you did. there were alot of RE agents who retired because they made so much money on the housing price Boom. But housing is in the best shape of my life time, not a thing to do with FHFA because it would have over 100 billion more in liquidity if not for the theft of Treasury. dont need them, and need RE Agents less. sure many people are mid career and have to have someone sell the house for relocation or other reasons that would take their attention off their Profession, its getting better, we just need to let GSEs free and take care of what they do best for over half century.
My brother flipped many houses while he was stationed in V. Beach, he had a good RE Agent who worked for less % with agreement, thats how Housing gets more productive and efficient, when they are a little hungry. right now houses are sitting on the market cause many Agents dont know how to sell anything.
agree the vast majority of Realtors are lazy commission seeking Leeches
I sold my last San Diego Home myself - walked into the escrow office with Buyer
they wrote up the transaction & I paid ALL closing costs - saved $THOUSANDS
Realtors are the biggest scammers in the Housing industry. they get rich off of very little effort, and sometimes bring almost no value to the seller or buyer. they often dont even know what they are selling, most just wait for an offer on an address, which the owned either paid for or put a lot of money into it to give it the value. I remember i had a lawyer in the mix when i bought a house. He said the RE agent made a statement about how the Lawyer was not really needed, but the Lawyer is the one who made sure everything was legit and all the numbers lined up. Even the Title company is more valuable than RE agents and get paid less in a sale. RE Agents are akin to Mafia, skimming the profits of the fruits of your labor. Bravo, now the Home owners have tools to work with when signing up RE Agents. they all have access to MLS
WOW! That is huge. If anything turns this economy around, it will be housing. This could kick it off.
The 6% commission on buying or selling a home is gone
after Realtors association agrees to seismic settlement
DAVID GOLDMAN AND ANNA BAHNEY, CNN March 15, 2024 at 6:17 PM
The 6% commission, a standard in home purchase transactions, is no more.
In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of home sellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions.
The NAR, which represents more than 1 million Realtors, also agreed to put in place a set of new rules. One prohibits agents’ compensation from being included on listings placed on local centralized listing portals known as multiple listing services, which critics say led brokers to push more expensive properties on customers. Another ends requirements that brokers subscribe to multiple listing services — many of which are owned by NAR subsidiaries — where homes are given a wide viewing in a local market. Another new rule will require buyers’ brokers to enter into written agreements with their buyers.
The agreement effectively will destroy the current homebuying and selling business model, in which sellers pay both their broker and a buyer’s broker, which critics say have driven housing prices artificially higher.
By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights. This will open up opportunities for alternative models of selling real estate that already exist but don’t have much market share, including flat-fee and discount brokerages.
Shares of real estate firms Zillow and Compass both fell by more than 13% Friday as investors feared that lower commission rates for agents could lead to less business for real estate platforms.
In a 10-K filing last month, Zillow warned that, “if agent commissions are meaningfully impacted, it could reduce the marketing budgets of real estate partners or reduce the number of real estate partners participating in the industry, which could adversely affect our financial condition and results of operations.”
Shares of real estate brokerage Redfin also fell nearly 5%.
Meanwhile, homebuilder stocks rose on the news: Lennar shares gained 2.4%, PulteGroup shares added 1.1% and Toll Brothers shares added 1.8%.
For the average-priced American home for sale — $417,000 — sellers are paying more than $25,000 in brokerage fees. Those costs are passed on to the buyer, boosting the price of homes in America. That fee could fall by between $6,000 and $12,000, according to TD Cowen Insights’ analysis.
“While the settlement comes at a significant cost, we believe the benefits it will provide to our industry are worth that cost,” said Kevin Sears, president of the NAR, in a statement.
In November, a federal jury in Missouri found the NAR and two brokerages liable for $1.8 billion in damages for conspiring to keep agent commissions artificially high. Because it was an antitrust case, the NAR was potentially on the hook for triple those damages — $5.4 billion.
The NAR had pledged to appeal the case, but other brokerages settled — and, eventually, so did the NAR, on Friday.
“NAR has worked hard for years to resolve this litigation in a manner that benefits our members and American consumers,” said Nykia Wright, interim CEO of NAR, in a statement. “It has always been our goal to preserve consumer choice and protect our members to the greatest extent possible. This settlement achieves both of those goals.”
The NAR had required homesellers to include the compensation for agents when placing a listing on a multiple listing service. Although NAR has long said commissions are negotiable and that the structure helped making housing more affordable for buyers, critics have long argued that the fees were expected and homesellers felt they would lose buyers if they didn’t offer them.
Settlement could lead to lower homebuying costs
Homesellers who brought lawsuits against the NAR have argued that in a competitive market, the cost of the buyer’s agent’s commission should be paid by the buyer who received the service, not by the seller. The sellers who brought the lawsuit against the NAR and the brokerages said that buyers should be able to negotiate the fee with their agent, and that the sellers should not be on the hook for paying it.
This settlement, which is subject to a judge’s approval, opens the door to a more competitive housing market. Realtors could now compete on commissions, allowing for prospective buyers to shop around on rates before they commit to buying a home. Brokers could begin to advertise their fees, allowing customers to choose lower-cost agents. The NAR, in its announcement, did not set a suggested fee.
This marks the biggest change to the housing market in a century, said Norm Miller, professor emeritus of real estate at the University of San Diego.
“I’ve been waiting 50 years for this,” Miller said.
Although it’s unclear what the future of the housing market will look like, Miller said he expected homebuying to pick up somewhat as costs fall dramatically for homebuyers.
“There are all kinds of models we might see in the future, and no one knows what they are,” he said, suggesting some brokers may charge, say, a $3,000 fee for selling a home, while others will offer a competitive commission.
The agreement will bring sweeping reforms for millions of Americans, said Benjamin D. Brown, managing partner of Cohen Milstein Sellers & Toll and co-chair of its antitrust practice, who helped craft the settlement.
“For years, anticompetitive rules in the real estate industry have financially harmed millions of Americans,” said Brown.
Individual sellers often feel powerless to negotiate a better deal for themselves, given the risk that offering lower commissions could cause brokers to steer buyers to other properties, said Robert Braun, a partner in Cohen Milstein’s antitrust practice.
“For far too long, home sellers have faced a system recognized by many as blatantly unfair. This class action and settlement provides justice for our clients and will require important changes that help future home sellers,” said Braun.
Although most realtors are included in the settlement, brokerage HomeServices of America continues to fight the case in court, the NAR said.
The NAR said it had fought to get HomeServices of America agents covered by the settlement, but said it was pleased to have more than 1 million of its members on board with the agreement.
“Ultimately, continuing to litigate would have hurt members and their small businesses,” said Wright in a statement. “While there could be no perfect outcome, this agreement is the best outcome we could achieve in the circumstances.”
Miller said the settlement could lead to a mass exodus of brokers from the industry — potentially half of the 2 million or so agents in America.
Lower fees mean mediocre agents are likely to leave the field, but top brokers will get more business. “The good ones will absolutely do better,” he said.
America’s fees are significantly higher than in foreign countries, Miller noted. In Israel, Singapore and the UK, brokers charge between 1% to 2% for the same thing that agents do in the United States.
Years of trouble for NAR
The NAR has been fighting off US antitrust officials and litigation for years regarding alleged anti-competitive practices. But November’s verdict marked the association’s biggest setback yet — and ultimately led to the downfall of the rules that have long protected its compensation model.
The association also faces scrutiny from the US Department of Justice, and it’s unclear whether this settlement with sellers will impact the government’s scrutiny of the brokerage industry.
The trade group has also undergone severe leadership turmoil over the past year.
In January, the former president of the NAR, Tracy Kasper, stepped down, after she said she received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR. Sears replaced Kasper earlier this year.
Kasper had just taken over the role in August 2023, after Kenny Parcell, the former president, resigned amid sexual harassment allegations that were first published by the New York Times. NAR employees reportedly said Parcell improperly touched them and sent lewd photos and texts. In the Times article, Parcell denied the accusations.
In November 2023, the chief executive of NAR, Bob Goldberg, also stepped down, and was replaced by Wright. Goldberg stepped down two days after the $1.8 billion judgment against the NAR.
Hutchins, don't get too comfortable on the FMCC board. As soon as the GSEs are liberated, you're going to get your azz voted out of there.
You've done squat for shareholders.
You deserve nothing better from shareholders than being squatted on with a pile of crap on you.
FNMA
March 15, 2024 12:21 PM EDT Freddie Mac Announces Michael T. Hutchins as Interim CEO
MCLEAN, Va., March 15, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that the company has appointed President Michael T. Hutchins to the additional role of Interim Chief Executive Officer (CEO) as the company continues its search for a permanent CEO. He also will become a member of Freddie Mac’s Board of Directors.
Hutchins was named President of Freddie Mac in 2020 and is a member of the company's Senior Operating Committee. He will continue serving as President and will take on the role of Interim CEO and Board member effective March 16, following the previously announced departure of CEO Michael J. DeVito, who will step down on March 15.
“Mike Hutchins is a proven leader who brings a deep understanding of every aspect of Freddie Mac to the role of Interim CEO,” said Lance Drummond, non-executive Chair of Freddie Mac’s Board of Directors. “In addition to his knowledge of Freddie Mac, Mike’s decades of experience in housing and financial services is invaluable as the company navigates a challenging market to Make Home Possible for borrowers and renters across the nation.”
Hutchins has worked in the financial services industry for over 30 years. He began his career at Freddie Mac in 2013, serving as Senior Vice President and then Executive Vice President of Investments and Capital Markets. In 2020, he was named President of Freddie Mac, overseeing the company's Single-Family, Multifamily, Investments & Capital Markets and Enterprise Operations & Technology divisions. Previously, Hutchins was co-founder and CEO of PrinceRidge and held senior positions at UBS and Salomon Brothers. Read his full bio here.
Drummond added, “I thank Mike for stepping up to lead the company as we continue a thorough search for a permanent CEO. I also want to thank outgoing CEO Michael DeVito for his commitment to Freddie Mac’s mission, and we wish him well in his next chapter.”
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT: Christopher Spina
703-388-7031
Christopher_Spina@FreddieMac.co
LOL. It's what is referred to as (drum roll please) liberal logic. These people keep shooting themselves in the foot with every policy move, There's no thinking analytically about cause and affect, or future repercussions. They think only about what they want to do now to get a vote and stay in power period, any affect later be damed, lol. it's why things like housing are such a mess and EXACTLY why you don't want this administration doing anything to the GSE's situation. Wait until the next administration, and hopefully it's a far more common sense group of people....minus the string pullers and DEI groupies.
example: this inflation is barely understood by the current administtrations voting base, they do not comprehend that inflation is CUMULATIVE (sticky), never comes down, only goes up - unless you have a period of disinflation, which is dangerous. What they also don't understand is this administration promised not to tax anyone making under 400k! lol, lol LIARS. Inflation IS a tax, but here is the worst part....Everyone's homes have been reassessed over the past few years and all that inflation over the past few years has been incorporated in to your (drum roll again please) PROPERTY TAXES, which are getting very unaffordable and is something new buyers get slammed with when buying a place, because the taxes catch up. So much for not raising taxes on the lower and middle class. THEY knew this would happen, but due to their obfuscated talking points semantics and deep economic incomprehension of their base, they got away with it. Their base does not realize it yet possibly, but they've been super duped. Those property taxes hardly ever come down, just like increased food prices.
Some would cry about this being a political posting, but it is not. It is facts on why you do not want this admin doing any release with a 10 ft pole with the GSE's, that's my opinion, but I would cahallenge any Voter of the current administration to prove me wrong on inflation, high food prices and high property taxes, which all affect affordability of buying a home. Paying a weeks pay for groceries for a family of four and high property taxes gives you a whole lot less for a mortgage payment to build equity.
Absolutely correct!
I ❤️ my petrol Aussie made vehicles!
You also rely on Canadian hydro power. If there is snow or ice rain problems in Canada, you’re freezing your butts’ off.
There’s the joke, Canadians pay more than NYers for electricity, and the Can gov tells Canadians to ration usage of electricity.f’m
Once gov cuts EV subsidies, people buy gas powered vehicles.
They haven’t developed a system for people living on the 5th floor to plug their EVs. Lol
Karen can choke..
Fnma
Here in NYS, Governor Karen Choke-hold is pushing "green" and wants to literally stop any type of fossil fuels and wood burning stoves (aka petrol, propane, natural gas, etc ..) for typically heat for homes.
Consider the source: electric is on a grid. Once the electricity is overloaded, power shuts down.
Back up generators run on natural gas. Wouldn't be more feasible to still have fuel?
Naw, it's too revelant and makes sense...
Happy Friday 😁
So much for affordable housing. Par for the course with this administration. Make a fire, dump gas on it. Claim there is a housing crisis, USE GSE's to push giveaways to buy homes costing a fortune because of regulation insanity. Just stupid to throw a bunch of insane home building requirements at builders who are not even sure they'll make money on a standard home.
https://www.foxnews.com/politics/little-known-international-ngo-finalizing-building-code-forcing-us-homes-to-be-green
Transfer of wealth…er from one place to da other.
Seems every other time commons climb, the JPS drop🤔... Someone with big money (MM's) swing trading to capture the lemmings. It's very weird how the money keeps cycling between commons and JPS
The housing market is everything, and it’s real assets, under the debt. Housing crashes are never the beginning of anything, they are the result from something else. GSEs are better shape then ever, He and others know it. They mostly all want them released. They will create up to a Trillion in wealth that can support any down turn in economy. I thing Paulson, Ackman, and a few others are the only ones who understand this. Kt and the Shell game boys are never on target with anything they suggest. They just feed each other with info so they can act like they know something u don’t.
Paulson also happens to be a big supporter and investor in the GSE's.
$Fannie / Freddie - $Yabba $Dabba Doooo ! - $Workin' on a $NEW 52 !
Misinformation again. Weren’t you supposed to ride off into the sunset.
Donkey
Fnma
$Trump floats $Billionaire $Paulson as potential Treasury chief,
Bloomberg reports
Reuters - March 13, 20243:07 PM
March 13 (Reuters) - Donald Trump, who is set to face President Joe Biden in November's presidential
election, has talked about selecting billionaire hedge fund manager John Paulson as his Treasury secretary should he win, Bloomberg reported on Wednesday.
Paulson's name has been mentioned in recent discussions, according to the report that cited
unnamed people familiar with Trump's thinking.
The conversations were informal and preliminary, the report added. No decisions about a possible
cabinet have been made by the former president, it said.
"There have been no discussions about who will serve in a second Trump administration,"
Trump spokesperson Steven Cheung said. Paulson is the founder of Paulson & Co, which
did not immediately respond to a request for comment.
Trump officially clinched the Republican Party nomination on Tuesday. Biden, a Democrat,
secured his party's nomination as well, setting up the first U.S. presidential election rematch
in nearly 70 years.
Citing people with knowledge of the discussions, Bloomberg also reported that other potential
options for Trump's treasury secretary include former U.S. Trade Representative Robert Lighthizer,
Susquehanna International Group founder Jeff Yass and Key Square Group founder Scott Bessent.
Trump Has Raised Billionaire John Paulson as Potential Treasury Pick
Hedge fund titan is floated as possible Treasury Secretary
Presumptive GOP nominee has held informal talks on options
By Jennifer Jacobs and Jordan Fabian
March 13, 2024 at 1:27 PM PDT
Donald Trump has talked about hedge fund titan John Paulson as Treasury secretary if he wins the November presidential election, and has held a series of meetings with potential cabinet picks, according to people familiar with the matter.
Paulson’s name has come up in recent discussions, according to those familiar with Trump’s thinking, who requested anonymity to discuss private conversations.
Sherwin Williams strikes again end of day.
the final tape was an upstroke of the paint, but closer look, it did partially come down on FMCC but not FNMA..... MMs need to be painting in sync.
I'm not greedy, I'm worried
Believe me I have thought of it to I'm up 800k, it's temping but I'm greedy!!!
Sold all my Fannie and Freddie shares (all JPS). I don't believe that Trump will release the twins. The big banks wouldn't like it. Republicans in general don't like FnF either, because of their "socialist" business concept with government guarantees. Democrats, on the other hand, won't release the twins because they want to continue to abuse them as a piggy bank for their pet and welfare projects.
Im thinking above 5, but would settle around 3, depending on when this year it happens.
Biden Administration in No Rush on GSE Reform
(despite pie in the sky Biden assumptions - in an "election year"
this is a complete 100% TRUMP TRADE issue)
They could of shortened that a lot! something like this....
We are charging worse than any mafia criminal orginaztion in the history of our country! While we hide behind a phoney obligatory lip service of taxpayer protection, we take these dividends into our general fund, which is slush money for whoever is in charge administration wise. Nothing to see here, move on. We have no reason to explain our actions to anybody, any American, or any court. The money is ours, keep dreaming taxpayer.
Today's a reckoning. This is positively manipulated by a few with deep pockets. Lots to be made here with the pumpers on FNMA and new posters showing up there pretty regular. I will not do a thing until we hit $6. Until that hits, we are going to be deeply prone to manipulation. IF FNMA should fall back to what I consider a buyable hard o manipulate range, I will pick up one last chunk. Until then, good luck, be careful, especially if trading.
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