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Rather than doing a ton of DD, about the de-listing to OTC platform, do any of you out there see this change as "good" for the FMCC common shares holder.......I own a small amount of FMCC, and can sell it at a small profit right now.......Do I sell and don't look back, or does anyone foresee great share price rise possible........Thanks in advance.
Both of the Twins are worth a hell of a lot of more than a tenner...
GME (pumper upper/short)
CMG (lousy fast food. Not even close to the twins earnings)
FMCC Is An Affordable Stock Under $10 With Huge Potential
$10 UPGRADE !
https://finance.yahoo.com/news/3-affordable-stocks-under-10-145000973.html
FMCC CFO resigns - must be contributing to the fear for today's drop.
https://www.tipranks.com/news/company-announcements/freddie-mac-cfo-christian-lown-announces-resignation-plan
Meaningless, but t effective to drop price, the ignorance, and fear, is huge here, KTCarney created a whole circus based on it.
Freddie Mac to delist final NYSE security By Investing.com
https://www.investing.com/news/company-news/freddie-mac-to-delist-final-nyse-security-93CH-3479977
Price Clubbed like a baby seal today.
Great podcast…
At 15:45min Calabria says Fannie/Freddie would have failed under Watt’s capital rule if there was a repeat of 2008.
— Alec Mazo (@Alec_Mazo) June 11, 2024
Watt’s rule had the GSEs retain 2.5-3% capital, translating to ~$140-180bn at the time. Stress tests with 25% housing price declines and/or repeat of 2008 clearly…
I got the letter about three days before the deadline. I decided not to opt out.
Same here!
I hold
Freddie $50 JPS
Freddie commons
Fannie x 2 classes of $25 JPS
All brought Feb 18 2022
So reading the Document is states shareholders who sold to susessors the shares rights transfer to the buyers after Dec 7th 2022 until final judgement which was sometime Feb 2024.
I got nothing. I hold Freddie commons and Fannie prefs, so you think I would have🤔
SHOW ME THE MONEY ! page 20
https://storage.courtlistener.com/recap/gov.uscourts.dcd.160910/gov.uscourts.dcd.160910.435.0_1.pdf
Certified Class Notice to potential Certified Class members. Class ECF 153. As of May 2022,
the claims administrator had mailed 146,017 copies of the Certified Class Notice to potential
members of the Certified Class. Id. Ultimately, only 32 individual shareholders submitted valid
requests to opt-out of the Classes. Class ECF 153 at Ex. D; Class ECF 415, at Ex. B.
Did anyone get there letter? I never did for any of my classes.
But 146,000 letters sent that alot of shareholders !!!
Lol. Fonda has ZERO CLOUT.
Delta between Fannie and Freddie now sits at .05. Freddie should be .10 higher than Fannie. GLTA!!
...Oh boy, Hanoi Jane.
B I G "D" for those ppl in Holly weird land
IN CASE YOU DIDN’T KNOW: This fall, actress Jane Fonda will be speaking
at the annual convention of the Mortgage Bankers Association.
Sen. Warren Urges FHFA to Enforce Housing Obligations Upon the FHLBs
dhollier@imfpubs.com
Senate Banking Committee veteran Elizabeth Warren, D-MA, has castigated the Federal Home Loan Banks for failing to live up to their affordable housing obligations.
In a letter sent last week, Sen. Warren urged Federal Housing Finance Agency Director Sandra Thompson to reform the FHLBank system, which she described as “broken.” Pointing out that Congress established the district banks specifically to support housing and community development, she argues the institutions are failing to meet their basic mission.
The liberal Democrat highlighted a recent report by the Congressional Budget Office that estimated the system will receive roughly $7.3 billion in federal subsidies in 2024. These funds, she emphasized, were intended to address the country’s housing needs, but some of the cash is going elsewhere.
Last year, the FHLBanks contributed just $395 million to affordable housing programs. Over the same period, Warren notes, they paid $3.4 billion in dividends to their members. Maybe more remarkable, 42% of those members didn’t originate a single mortgage.
Sure here you go. Just read every other page. That’s your summary. Don’t mention it.
https://storage.courtlistener.com/recap/gov.uscourts.dcd.160910/gov.uscourts.dcd.160910.435.0_1.pdf
If they release this it will be when the market crashes!
Any speculation on damages per share?
can anyone write a summary about the reply?
$Boooom ! - $GSE $Shareholders $Reply to Govt Motion ...
https://storage.courtlistener.com/recap/gov.uscourts.dcd.160910/gov.uscourts.dcd.160910.435.0_1.pdf
Boooom ! - GSE Shareholders Reply to Govt Motion https://t.co/bkTSLwBxbo pic.twitter.com/r9PUEvAlZW
— Cmdr Ron Luhmann (@usnavycmdr) June 10, 2024
Tomorrow you will be allowed to post back on the Fannie board finely ! Time to spread the word and hold the Gov accountable for their actions in the 16 year Fannie & Freddie conservatorship of these two great American companies !
06/10/2024 04:49:52 PM
Jason Chaffetz bill passed 425-0, open records of Fannie and Freddie, and the Senate did not respond. What is wrong with the US? https://t.co/jfr0FsSV6G
— Robert (@robjunier) June 9, 2024
Moving up through $1.60 this week and probably pressing $1.70 on Freddie!
Thanks Navy, where do you see that? The most current bit here is the June 7 update. Thanks in advance.
Homeowners sitting on a pile of cash
with $17Trillion in home equity: CoreLogic
There are now only 1 million homes underwater in the U.S.
June 7, 2024, 2:01 pm By Neil Pierson
Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 trillion in equity over the past year, according to a CoreLogic report released Friday.
The average U.S. homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022. Three states — California (+$64,000), Massachusetts (+$61,000) and New Jersey (+$59,000) — saw increases that were more than double the national average.
The $1.5 trillion gain in U.S. home equity over the past year brought total net equity to more than $17 trillion at the end of Q1 2024. Mortgaged properties account for 62% of all residential homes in the U.S., according to CoreLogic.
“With home prices continuing to reach new highs, owners are also seeing their equity approach the historic peaks of 2023, close to a total of $305,000 per owner,” Selma Hepp, chief economist at CoreLogic, said in a statement. “Importantly, higher prices have also lifted some 190,000 homeowners out of negative equity, leaving only about 1.8% of those with mortgages underwater.”
Negative equity, also known as an underwater or upside-down mortgage, involves borrowers whose outstanding mortgage debt exceeds the value of their home. On a quarterly basis, negative equity decreased by 2.1% in Q1 2024 and now represents 1 million homes nationwide.
The analysis also noted that the level of underwater mortgages at a given time can change quickly due to changes in home prices. For example, when looking at the level of mortgage debt in Q1 2024, there are 111,000 homes that would move back into a positive equity position if home values rose by at least 5%. Conversely, 153,000 homes would fall underwater if values declined by 5% or more.
“Home equity is key to mortgage holders who have seen other homeownership costs soar, including insurance, taxes and HOA fees, as a source of financial buffer,” Hepp said.
“Also, low amounts of negative equity are welcomed in markets that have shown price weaknesses this spring, such as Florida (1.1% of homes underwater) and Texas (1.7% of homes underwater) — both of which are below the national rate — as further price declines could drive more homeowners to lose their equity.”
Kitty litter talking about housing stimulates me as much as eating a salad washed with e-coli.
Lots of gse double talk with no substance.
A total waste of space.
Fmcc
Catman Speaking at Housing Event Tuesday ...
Will be appearing on Tuesday at @BPC_Bipartisan 2024 Housing Summit https://t.co/PUJe6y9rxE great panel, should be fun 🥳 pic.twitter.com/e3wrzfyIFf
— Mark Calabria (@MarkCalabria) June 6, 2024
$FMCC~ Buying a stairway 😉
And she’s climbing the stairway to heaven!
Fannie / Freddie Delta now only .06 - .07 ...
definitely decent volume on start of the day
pre-mkt craziness goin' on w FREDDIE !
settling down now - Bid was $1.55 ASK $1.53
2,628 shares Traded pre-mkt Last $1.53
but BID X ASK $1.53 X $1.52 ? Roaring Kitty
Homebuying Sentiment Hits New Survey Low - June 7, 2024
Citing Unaffordability, 86% of Consumers Say It’s a Bad Time to Buy a Home
WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) decreased 2.5 points in May to 69.4 as the component measuring consumer attitudes toward homebuying conditions fell markedly, reaching an all-time survey low. This month, only 14% of consumers indicated that it’s a good time to buy a home, down from 20% last month, while the share believing it’s a good time to sell fell from 67% to 64%. Meanwhile, consumers continue to believe affordability will remain tight for the foreseeable future, as respondents believe that, on net, home prices and mortgage rates will go up over the next year. Among the positives from the survey: A growing share of respondents, now 20%, indicated that their household income is significantly higher than it was a year ago. The full index is up 3.8 points year over year.
“Consumer sentiment toward housing declined from its recent plateau, as an increasing share of consumers struggle to find the positives in the current housing market,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “While many respondents expressed optimism at the beginning of the year that mortgage rates would decline, that simply hasn’t happened, and current sentiment reflects pent-up frustration with the overall lack of purchase affordability. This is most clearly evidenced by our ‘good time to buy’ component falling to a new survey low this month. On the other hand, homeowners’ perception of home-selling conditions declined only slightly and remains largely positive after a steady increase over the last few months. This suggests to us that, despite the so-called ‘lock-in effect,’ some homeowners may increasingly want or need to sell their homes for a myriad of non-financial reasons, which may lead to an increase in listings in the near future. As our latest forecast notes, we expect improvements to housing inventory will lead to slightly increased sales activity through the end of the year.”
Home Purchase Sentiment Index – Component Highlights
Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased 2.5 points in May to 69.4. The HPSI is up 3.8 points compared to the same time last year. Read the full research report for additional information.
Good/Bad Time to Buy: The percentage of respondents who say it is a good time to buy a home decreased from 20% to 14%, while the percentage who say it is a bad time to buy increased from 79% to 86%. As a result, the net share of those who say it is a good time to buy decreased 13 percentage points month over month.
Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home decreased from 67% to 64%, while the percentage who say it’s a bad time to sell increased from 32% to 35%. As a result, the net share of those who say it is a good time to sell decreased 6 percentage points month over month.
Home Price Expectations: The percentage of respondents who say home prices will go up in the next 12 months remained unchanged at 42%, while the percentage who say home prices will go down remained unchanged at 18%. The share who think home prices will stay the same increased from 39% to 40%. As a result, the net share of those who say home prices will go up in the next 12 months increased 2 percentage points month over month.
Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 26% to 25%, while the percentage who expect mortgage rates to go up decreased from 33% to 31%. The share who think mortgage rates will stay the same increased from 40% to 42%. As a result, the net share of those who say mortgage rates will go down over the next 12 months remained unchanged month over month.
Job Loss Concern: The percentage of respondents who say they are not concerned about losing their job in the next 12 months decreased from 76% to 75%, while the percentage who say they are concerned increased from 23% to 24%. As a result, the net share of those who say they are not concerned about losing their job decreased 1 percentage point month over month.
Household Income: The percentage of respondents who say their household income is significantly higher than it was 12 months ago increased from 17% to 20%, while the percentage who say their household income is significantly lower remained unchanged at 12%. The percentage who say their household income is about the same decreased from 70% to 67%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago increased 3 percentage points month over month.
About Fannie Mae’s Home Purchase Sentiment Index
The Home Purchase Sentiment Index® (HPSI) distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.
About Fannie Mae’s National Housing Survey
The National Housing Survey (NHS) is a monthly attitudinal survey, launched in 2010, which polls the adult general population of the United States to assess their attitudes toward owning and renting a home, purchase and rental prices, household finances, and overall confidence in the economy. Each respondent is asked more than 100 questions, making the NHS one of the most detailed attitudinal longitudinal surveys of its kind, to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared with the same survey conducted monthly beginning June 2010). For more information, please see the Technical Notes.
Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to support the housing market. The May 2024 National Housing Survey was conducted between May 1, 2024 and May 17, 2024. Most of the data collection occurred during the first two weeks of this period. The latest NHS was conducted exclusively through AmeriSpeak®, NORC at the University of Chicago’s probability-based panel, on behalf of PSB Insights and in coordination with Fannie Mae. Calculations are made using unrounded and weighted respondent level data to help ensure precision in NHS results from wave to wave. As a result, minor differences in calculated data (summarized results, net calculations, etc.) of up to 1 percentage point may occur due to rounding.
Detailed HPSI & NHS Findings
For detailed findings from the Home Purchase Sentiment Index and National Housing Survey, as well as a brief HPSI overview and detailed white paper, technical notes on the NHS methodology, and questions asked of respondents associated with each monthly indicator, please visit the Surveys page on fanniemae.com. Also available on the site are in-depth special topic studies, which provide a detailed assessment of combined data results from three monthly studies of NHS results.
To receive e-mail updates with other housing market research from Fannie Mae's Economic & Strategic Research Group, please click here.
About the ESR Group
Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Doug Duncan, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets. The ESR Group was awarded the prestigious 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy based on the accuracy of its macroeconomic forecasts published over the 4-year period from 2018 to 2021.
About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog
Media Contact
Matthew Classick
202-752-3662
Fannie Mae Newsroom
https://www.fanniemae.com/news
The landscapers are FIRED
So today we pick a new FIGHT!
$FMCC~$5.55 per share damages, WEEEEEEEEEEEEEEEEEEEEEEEEEE!
CBO report shows $FNMA $FMCC can be released from Conservatorship once they reach $128B in retained earnings (they now have $132B). The Gov would gain $98B windfall. Of course, Junior Pref shares (like $FNMAT) get paid full par value at that point.
— Jarndyce Jarndyce (@JarndyceJ) June 6, 2024
1/https://t.co/SFA4rDDprf pic.twitter.com/NW6Yi7DRsk
I forgot to mention FHFA freeloading relatives paid for forever.
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