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What about a credibility score?
Let's say up to a score of 1000 points. That would be a perfect credibility score.
I may hurl!
Go FnF!
I think if anything the least bit favorable is released we immediately see $5. An easy double and then some from here.
I am pulling a guess right out of my ass just like everyone else. I have a few more in there that I may reveal.
Go FnF!!!
Rick Nagra you have an opportunity to get Michael Brush's interest. Give him a summary. Enlist Navy and others from the board to hit some Supreme Court hilights. Don't make it too long or complicated for Brush's attention span. Make it juicy for sensational sound bites so he can talk about it like Maria Bartiromo does. There is so much info that a summary could read like a book. Avoid that.
Go FnF!
I did not know there is not a c/b halt on otc stocks. This is going to be dangerous (for my heart) and exciting
I remember other members replying to the relist questions in the past. Several over time have stated that F&F may not relist while in conservatorship. I have never personally looked into this. If true it then keeping us under conservatorship is another way to manipulate us. F&F that is.
GO F&F!
I like it a lot. How is it possible that we are sitting below $2? Is the float locked up? Low volume! Virtually no price movement!
Hardly anyone selling! Opinions?
Go FnF!
What happened to the money they won in all of those lawsuits against the banks after the housing crash?
Oops make that 4 pennies
What's up with fnma? Suddenly up 3 pennies.
Go FnF!
If you want to buy Gamestop (gme) unincumbered without restrictions on Monday use an account with Fidelity or Vanguard. They both have millions of shares in funds and are making millions from this historical event. They have a vested interestS in making gme buyers happy
Go GME!
Sound reasoning. Still it was nice to see naked shorters get a hell of a scare. How can a company legally be shorted 140% of it's shares?
12mil. $2.17
Go FnF Short Busters
Are the Short Busters turning to FnF now?
Go FnF! Go Short Busters!
Everybody is trading gamestop
Go F&F!
Why do you have to resort to the word degenerate? Also I do not have a gambling problem. This is a sound investment based on FFFacts. LOL
GO F&F!
Obiterdictum you have been quiet for a while now. Do you believe that the recent development is good news or bad news or not much of either for common shareholders? And why? Lots of differing opinions and interpretations of the new letter of agreement. I admit I can not understand a lot of the jargon. It seems by reading the ihub responses that I am not alone.
Thanks
Low Rates and Limited Liability Mean Hot Markets
?
TAGS Money and Banking
31 MIN AGODoug French
The taxpayer is backstopping more credit risk than ever. The Post reported that nearly 30 percent of the loans Fannie Mae guaranteed were to borrowers whose house payment exceeded half of their monthly income, up from 14 percent in 2016.
https://mises.org/library/low-rates-and-limited-liability-mean-hot-markets
Statement on Department of Treasury and FHFA Amendment to Preferred Stock Purchase Agreement from Hugh R. Frater, Chief Executive Officer, Fannie Mae
January 15, 2021
"This is a significant milestone and creates a path to end the conservatorship. Continuing to rebuild our capital base will make us a fundamentally safer financial institution for the long term. I thank Secretary Mnuchin and Director Calabria for taking this important step forward. While increasing our capital base is essential, more work lies ahead to create a durable housing finance system to serve future generations of homeowners and renters of all income levels, through good times and bad. We look forward to working with Treasury, FHFA, and other policymakers to advance that goal."
https://www.fanniemae.com/newsroom/fannie-mae-news/statement-frater-treasury-fhfa-amendment-preferred-stock-purchase-agreement
Mortgage Forbearance Is Ending. Here’s What to Know If You’re Facing Foreclosure
https://www.newsbreak.com/news/2143829056230/mortgage-forbearance-is-ending-heres-what-to-know-if-youre-facing-foreclosure
It was funny until I got queasy
Go FnF!
$3.13 fnma
Fnma up .30
I have not been following the board closely lately. Here is a question for all. If Trump appoints a new justice will it result in a faster settlement? Thanks in advance.
Go FnF!
SFA Responds to FHFA: Suspend Implementation of Proposed GSE Capital Rule
9.2.20
On Monday August 31st, SFA submitted a response to the FHFA on their Proposed Enterprise Capital Framework. SFA’s response highlights broad industry concerns about not only particular aspects of the rule itself, but the practical effect of the FHFA taking steps that could allow the GSEs to resume their former position of relying on an implicit government guaranty.
Given the breadth of concerns raised and potential negative severity of enacting the proposed rule under the current conditions, SFA recommended that FHFA suspend implementation of the rule until broader questions about the role of the GSEs are adequately resolved, and specific questions about the impact of the rule on the operations of the GSEs are answered.
SFA raised two overarching issues with the re-proposed ECF.
The capital rule assumes resolution and clarity on a number of outstanding policy issues. Unfortunately, such resolution does not exist. The primary example of such an issue is whether there will be a full-faith and credit guaranty on legacy and new-issue agency mortgage-backed securities (MBS) in place before the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac exit conservatorship.
The capital rule unnecessarily penalizes Credit Risk Transfer (CRT) programs at the enterprises, likely eliminating valid benefits of this diversified, cost-effective risk management tool. As a result, the GSEs would be incented to hold more risk, their cost of capital will increase, and the economic benefits passed along to mortgage borrowers via lower g-fees will be reduced or eliminated.
SFA members also commented on the need for interagency coordination, shortcomings of “bank-like” capital standards, issues with the countercyclicality capital approach, shifting the volume within government agencies, and the moral hazard and many challenges of relying on an “implied” guarantee.
Click here to read an executive summary of the letter.
Click here to read SFA’s full response letter.
https://structuredfinance.org/news/sfa-responds-to-fhfa-suspend-implementation-of-proposed-gse-capital-rule/
Higher Mortgage Costs and Reduced Credit Availability Would Result from FHFA Proposed Capital Rule for Fannie Mae and Freddie Mac, Coalition Says
WEDNESDAY, SEPTEMBER 2, 2020
In public comment letter, civil rights, consumer, and housing groups warn of proposal’s harm and its “acute impact on low- to moderate-income families and families of color”
Groups offer recommendations for the housing regulator to fulfill its and the Government-Sponsored Enterprises’ (GSEs) statutory public mission
Washington, D.C. – Today, the Center for Responsible Lending (CRL) along with a broad coalition representing millions of Americans released its public comment letter critiquing the Federal Housing Finance Agency’s (FHFA) proposed capital rule for Fannie Mae and Freddie Mac, Government Sponsored Enterprises (GSEs) overseen by the FHFA. Fannie and Freddie provide financial backing for about half of all mortgages in America. The amount of capital that the GSEs are required to hold has a major impact on the cost and availability of mortgage credit.The comment letter is linked here and its Executive Summary is included at bottom.
The letter was submitted by: CRL, Consumer Federation of America, The Leadership Conference on Civil and Human Rights, NAACP, National Association of Hispanic Real Estate Professionals, National Association for Latino Community Asset Builders, National Association of Real Estate Brokers (NAREB), National CAPACD, National Community Reinvestment Coalition (NCRC), National Community Stabilization Trust, National Fair Housing Alliance, National Housing Conference, National Urban League, and UnidosUS.
Fannie Mae and Freddie Mac receive substantial public support and have an explicit public interest mission. The letter warns that the “proposed rule’s approach would unnecessarily increase costs and reduce mortgage credit availability, with an acute impact on low- to moderate-income families and families of color.”
The letter states that “the proposed rule erroneously treats the GSEs as banks and therefore requires bank-like capital. This leads to gratuitously high capital levels that run directly contrary to the GSEs’ charter mission to promote access to mortgage credit to underserved borrowers, to serve a countercyclical role in the mortgage market, and to FHFA’s duty to reasonably support the safety and soundness of the GSEs and U.S. housing finance system.”
The comment letter says that the FHFA’s plan is “critically flawed as written” and makes several technical recommendations. Additionally, the letter recommends that the GSEs should be regulated as utilities to promote affordability and more equitably serve low- to moderate borrowers and families of color, as well as to promote safety and soundness of the GSEs. The Center for Responsible Lending has issued a report outlining why and how to “Treat Fannie And Freddie As Utilities.”
https://www.responsiblelending.org/media/higher-mortgage-costs-and-reduced-credit-availability-would-result-fhfa-proposed-capital-rule
PIMCO warns releasing Fannie, Freddie could imperil housing finance
“Mortgage rates will increase, homeownership will likely suffer," PIMCO executives say
September 2, 2020, 3:52 pm By Kathleen Howley
Bond giant Pacific Investment Management Co., or PIMCO, one of the biggest buyers of Fannie Mae and Freddie Mac mortgage-backed securities, warned on Monday that ending the federal conservatorship of the GSEs without Congressional input would constrict housing-finance credit and boost mortgage rates.
In a letter to Mark Calabria, director of the Federal Housing Finance Agency, PIMCO executives including Managing Director Dan Hyman, head of agency mortgage trading, said freeing the companies by executive fiat would be interpreted by investors as an end to the government’s guarantee of the MBS.
That would boost mortgage rates and force some investors to sell the bonds, the PIMCO executives said.
“While the focus to release the GSEs from conservatorship is understandable, we believe that any release particularly prior to Congressional action would have unfavorable – and likely dramatic – consequences,” the PIMCO letter said. “We strongly believe that market participants will not view the release of the GSEs as a return to the implied guarantee model that prevailed before the financial crisis, but rather, they would view them as wholly-owned private companies with no accompanying government guarantee.”
That means investors would require higher returns to compensate for greater risks, the PIMCO executives said.
“Mortgage rates will increase, homeownership will likely suffer and the national mortgage rate will no longer exist,” the executives wrote.
The “national mortgage rate” refers to the ability of lenders to offer the same rate to homebuyers with similar credit profiles and down payments in different parts of the country.
“It is almost impossible to overstate the importance of the national mortgage rate, not only for the primary and secondary mortgage markets, but most importantly, for borrowers and prospective homeowners,” the letter said. “The national mortgage rate is a central underpinning of America’s housing finance system.”
PIMCO’s warnings came in response to the FHFA’s request for comments on its proposed capital rule that Fannie Mae and Freddie Mac be required to hold about $240 billion in capital combined, based on their September 2019 assets.
Raising the capital buffer is aimed at ensuring taxpayers don’t have to cover losses for the two companies, which have been in government control since they were seized in 2008 in the midst of the financial crisis.
A year ago, the Trump administration released a blueprint for freeing the GSEs from conservatorship without requiring Congressional approval. Calabria has worked to get all the pieces in place, but if former Vice President Joe Biden usurps President Donald Trump in the Nov. 3 election those plans could be knocked off track
https://www.housingwire.com/articles/pimco-warns-releasing-fannie-freddie-could-imperil-housing-finance/amp/
Just skimming through recent posts from 3:10 to Yuma to Squidmore's cat. It is obviously a slow news day!
Go FnF!
Inside Mortgage Finance
Senators Ask FHFA to Withdraw GSE Refi LLPA Immediately
pmuolo@imfpubs.com
Seven U.S. senators — six from the Senate Banking Committee — shot off a letter to Federal Housing Finance Agency Director Mark Calabria Wednesday night asking the regulator to immediately halt a 50 basis point adverse market fee the GSEs are imposing on their seller-servicers.
The loan-level price adjustment, which affects mortgages slated for Sept. 1 and beyond delivery dates, applies to most Fannie Mae/Freddie Mac refinancing transactions.
The industry has been in an uproar since the LLPA was introduced roughly 10 days ago, saying it’s ill-timed given the pandemic and will hurt both consumers and lenders.
Signed by five Republicans and two Democrats, the letter says it’s “deeply troubling” the FHFA would allow the new fee “during what is universally agreed to be a period of great economic distress ... We therefore request that you immediately act to require that the GSEs withdraw this fee to prevent further harm to everyday Americans and our economy.”
The elected officials add they find it distressing that such a large fee would be introduced “with no consultation with Congress and no notice to external stakeholders.”
Sorry, it was in an email today. No link
That was almost poetic!
I was in a coma for a year. I didn't miss a thing!
Go FnF!
Delay has been the overwhelming response for over a decade. It is no wonder that you feel that way. Delay is now expected.
Go FnF!
Considering that the FHFA will probably be considered unconstitutionally structured, if so, would/could the previous decisions made by the director be in question? legally? Since the director acted with impunity could the fairness, legality, etc. of previous decisions be challenged in court?
Go FnF!
Well Margaret is usually a woman's name and her photos appear feminine. Still, you never know.
Go FnF!
Do you realize that it was dead until you resurrected it just now. Secret squirrel reloaded.
Go FnF!
So I missed all of the fun today. It looks like we have a capital rule. Lots of shares traded. Will this news carry us into the weekend going higher?
Go FnF!
So the point of my post was that there really is no risk (in my opinion) of FnF being sent into receivership in an election year. The added debt would be ammo for dems, whigs, bull moose, communist party and the anti Masonic party. See, I am inclusive.
Go FnF!
Just wait until the mud slinging starts. It is all fair game.
Go FnF!
Sorry, that was meant to be a new post. I didn't mean to respond to yours.
Go FnF!
Q will set it all straight, sort it all out and