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I would just change it to Grandpa instead of Dad (when he invested as a Dad though)
I have been at this since 2012. I just saved the pic. Damn good pic
Soooo Who is really getting rich off those warrants? The taxpayer? or the government spenders? We all know. Every time you hear them you taxpayer replace that with Lackey.
Last tweet is spot on !!!! The brutal truth that needs to be forwarded to the government.
Thanks Ron for the pic, you put a great big smile on my face. I'm thinking once the GSEs are released, I'm laminating this picture and hanging it up on a wall for all to see.
FMCC
Statement of Director Sandra L. Thompson on the FSOC Nonbank Mortgage Servicing Report
FOR IMMEDIATE RELEASE - 5/10/2024
I commend the Financial Stability Oversight Council (FSOC) for the publication of its report on nonbank mortgage servicing. This report advances the work of federal and state agencies with oversight responsibility of the mortgage market, identifies vulnerabilities specific to nonbank mortgage servicing business models, and presents robust recommendations to foster financial stability. The Federal Housing Finance Agency (FHFA) is regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and nonbank mortgage servicers are important counterparties to the Enterprises.
The growth of nonbank mortgage servicers over the past decade has shifted market dynamics and highlighted the need for increased collaboration and coordination among regulators. The FSOC report calls attention to the strengths of nonbank mortgage servicers, including their commitment to the mortgage market and to supporting sustainable homeownership for historically underserved populations, along with several structural vulnerabilities. These vulnerabilities include liquidity risk, leverage, asset concentration, and operational risk, each of which could amplify and transmit mortgage market shocks to other financial market participants and to consumers.
To address these vulnerabilities, the FSOC report includes several recommendations that would enhance its member agencies' oversight authorities, enable better information sharing, and provide for improved liquidity risk management by industry participants. Taken together, I believe these recommendations will reduce the risk of consumer harm or financial market contagion in the event of material financial stress at one or more nonbank mortgage servicers.
I am particularly encouraged that the FSOC recommends Congress consider providing FHFA with additional authority to establish appropriate safety and soundness standards for nonbank mortgage servicing and to directly examine for compliance with these standards. Such authority would give FHFA greater ability to manage the risks identified in the FSOC report and support broader financial stability.
FHFA is committed to ensuring the safety and soundness of, and responsible market conduct by, our regulated entities. FHFA will continue these efforts as we fulfill our statutory responsibilities and carry out the recommendations in the FSOC report to the greatest extent possible. I welcome FSOC's focus on the growth of the nonbank mortgage servicing sector and encourage Congress to consider those recommendations in the report which require legislation to fully implement.?
###
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $8.4 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube, Facebook, and LinkedIn.
Contacts: MediaInquiries@fhfa.gov
yes they were, but u wont get anyone to politically remove them in any way, maybe after release, but never before, and they bring oversight that buffers the GSEs, instead of politicians in congress. get the right people into its Admin, it would work for the better.
The lobbying that happened before brought the completely unjustified wrath onto themselves but it ain’t going back to that. Nor do I want it too.
I seem to recall these companies operated just fine and helped made housing affordable prior to the existance of FHFA. Oversight and Integrity? WTF,…are you joking?
I remember the re-fi of my San Diego Home down to 9.75%
from 12% interest & others had even 14% interest - the mkt
was spoiled child by the Fed for 10 yrs w 3% interest rates
(which was my gradparents interest rates) 6-7% is about
where the mkt has to get used to the idea again ...
The question isn’t whether the @USTreasury knows how to sell its warrants but rather, does @SecYellen know the difference between a 60 minute IPA and a 60 billion dollar IPO. #fanniegate
— RWD (@PhiloTheol) May 10, 2024
u must be young, its not the most unaffordable in history no matter what they say. but its close. FHFA is legit in concept, just have to get rid of Mad Maxs cousins and ankle sniffers who sit on the phone all day. If i was in charge i could trim majority of all staff and still maintain every bit of oversight and integrity it has.
Housing is the most un affordable that it has ever been in history. FHFA is a collasal failure and must be sunset!
And last but not least, behind the curtain are the fabled Fannie Mae & Freddie Mac warrants…, now lets start the bid….
Treasury doesn’t want to give up its favorite piggy bank! And FHFA doesn’t want to give up
— Ron Haynie (@HaynieRon) May 10, 2024
Running both companies !
— Shadow Copper (@shadow_copper) May 11, 2024
PRESS RELEASES - Treasury Announces Plan to Sell Airline Warrants
May 10, 2024
https://home.treasury.gov/news/press-releases/jy2332
WASHINGTON – The U.S. Department of the Treasury announced today its intention to conduct a series of auctions to sell its warrants to purchase the common stock of certain publicly traded airlines to qualified institutional buyers, institutional accredited investors, or the issuing airlines. The proceeds of these sales will provide additional returns to the American taxpayer from the financial assistance and liquidity that Treasury provided to these airlines during the pandemic.
Treasury provided financial assistance and loans to U.S. airlines and certain other types of businesses in 2020 and 2021 under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act); the Consolidated Appropriations Act, 2021; and the American Rescue Plan Act of 2021. Information about these programs, the warrants being sold, and the auction procedures is available here.
Treasury will be supported by its financial agents, Houlihan Lokey Capital, Inc. and Loop Financial Consulting Services, LLC, to help coordinate and conduct the auctions. Prospective bidders interested in participating in an auction must deliver a complete Bid Package (as defined in the auction procedures) by 5:00 p.m. Eastern Time on May 24, 2024. The auctions are expected to commence the week of June 3, 2024.
The auction transactions will be exempt from the Securities Act of 1933, as amended (the Act). The warrants that will be sold in the auctions have not been, and will not be, sold pursuant a registration statement under the Act, and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Act and applicable state securities law.
The warrants will be offered only to (1) “qualified institutional buyers” as defined in Rule 144A under the Act, (2) certain institutional “accredited investors” as defined in Rule 501(a) under the Act, and (3) the issuers of the relevant warrants. Neither this press release nor the information regarding the auction on Treasury’s website constitute an offer to sell or the solicitation of an offer to buy the warrants or any other securities (including the underlying shares of common stock), and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation, or sale would be unlawful.
###
Boooooom ! ... Q-Tip speaks the words Fannie & Freddie ! ...
Remarks by Treasury Sec Janet L. Yellen at Open Session of Meeting of the Financial Stability Oversight Council - "The share of outstanding mortgages guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae has also increased." https://t.co/MLt0rH0gX0
— Cmdr Ron Luhmann (@usnavycmdr) May 10, 2024
With her face.....You'd need therapy for years
the Fannie / Freddie TRUMP Trade is revived ! -
ALL the Govt SCAM Trump court cases are cratering ...
#fanniegate $fnma $fmcc #Trump2024NowMorethanEver https://t.co/z0htlUZaCB
— MIA (@MIA95629998) May 9, 2024
Freddie and Fannie say, "Deli-quescent, Deli-cious, deli-catessen..."
And the least favorite word "Delinquent" on unpaid loans.
FHFA Announces New Staffing Updates - FOR IMMEDIATE RELEASE
5/10/2024
Washington, D.C. — Today, the Federal Housing Finance Agency (FHFA) announced
two personnel updates. Luis Campudoni has been named Chief Information Officer,
and Mary Peterman has been named Chief Financial Officer.
Luis Campudoni has over 25 years of experience in information technology. He recently
joined FHFA after spending 2 years as the Deputy Chief Information Officer at the Small
Business Administration (SBA), where he led, executed, and oversaw the information
technology products, services, and operations that supported the SBA's mission.
Campudoni has also held senior leadership roles at the Department of Homeland Security,
the Metropolitan Washington Council of Governments, the Federal Emergency Management
Agency, and Customs and Border Protection. Campudoni holds master of science degrees
in project management, organizational leadership, and information technology.
Mary Peterman is a certified public accountant and a certified government financial manager
and has over 30 years of financial management experience. She recently joined FHFA after
serving as the Controller/Deputy Director of the Division of Finance for the Federal Deposit
Insurance Corporation (FDIC). Prior to FDIC, Peterman served in leadership positions for
the Administrative Office of the U.S. Courts, the Department of Homeland Security, and
various local government organizations. Peterman has also held leadership positions for
the Association of Government Accountants, including serving as national president and
national treasurer. Peterman holds a master's degree in public administration.
###
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11
Federal Home Loan Banks. These government-sponsored enterprises provide more
than $8.4 trillion in funding for the U.S. mortgage markets and financial institutions.
Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube,
Facebook, and LinkedIn.
Contacts:
MediaInquiries@FHFA.govhttps://x.com/usnavycmdr/status/1788974376676913593
Fannie Mae released the results of its 24th non-performing loan sale transaction
on Thursday. The winning bidder, VWH Capital Management, will receive
1,154 delinquent loans, totaling $214.2 million in unpaid principal balance.
VWH is a minority and women-owned business. The deal is expected to close on June 25...
its scumDems like her that are the reason GSEs are here in this mess. Maybe she needs to take me up there and show me, I may just forget to bring her back...nah, I would be throwing up in the car all the way to nowhere.
Yup, read that article of her scare mongering, as usual. No one called her out. Samething with her 150 billion money grab letter for housing, with a whole lot of nothing for justification, no real data or numbers. I hope we get more like Tony, who realize there's a great big sham going on to confiscate money illegally in the name of taxpayers, who get fleeced anyway.
Reason and logic is something she cannot do or understand. She is mentally unstable and full of hat[e, She could care less about laws or logical arguments. Best if she went away, far away from any decision making position.
Tony...
Sammy, I’m still here, I’ve been in the middle of remodeling my business and have been up to my elbows with it for the last month and am finally nearing completion!! I’ve always said that this is a Trump trade and the closer that we get to the election the higher we will go! Since the huge run up that we’ve had it’s only natural for people to cash some positions out. I however haven’t sold one share and have only added. Patience is a virtue, just ask Eternal! GLTA
How much room does the FHFA have today to make marginal changes to underwriting standards? And if the Biden administration wanted to initiate changes, what mechanisms would they have?
— Kevin Erdmann (@KAErdmann) May 9, 2024
Perfect!!!! Tony gets it.
Send that to the idiot Mad Max
EVERYTHING under this administration is put on a socialist hell bent mission
Agreed, conservatorships have completely corrupted agency and undermined safety and soundness mission
— Mark Calabria (@MarkCalabria) May 9, 2024
Calabria on X ...
What does OCC stand for?
The Office of the Comptroller of the Currency (OCC) is an independent bureau of the U.S. Department of the Treasury. The OCC charters, regulates, and supervises all national banks, federal savings associations, and federal branches and agencies of foreign banks.
Has Congress ever eliminated an agency outside of a crisis?
— Andrew Ackerman (@amacker) May 9, 2024
What about also giving the Fed's supervision responsibilities to the OCC? I get that one supervises holding companies, the other (federally chartered) banks. But it seems duplicative. Thoughts?
— Aaron (@Appellor_Aaron) May 9, 2024
Lol. Fair enuf.
— Andrew Ackerman (@amacker) May 9, 2024
Where’s Viking and Joey da Bull, where did those pumpers go ?
Fannie Mae Announces Winner of its Latest Non-Performing Loan Sale
May 9, 2024
WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced the results
of its twenty-fourth non-performing loan sale transaction. The deal, announced on
April 9, 2024, included the sale of 1,154 deeply delinquent loans totaling $214.2
million in unpaid principal balance (UPB), offered in one pool. The winning bidder
of the pool for the transaction was VRMTG ACQ, LLC (VWH Capital Management, LP).
VWH Capital Management, LP is a Minority and Women-Owned Business ("MWOB").
The transaction is expected to close on June 25, 2024. The pool was marketed with
BofA Securities, Inc. and First Financial Network, Inc. as advisors.
The loan pool awarded in this most recent transaction includes:
Pool 1: 1,154 loans with an aggregate UPB of $214,235,825; average loan size of
$185,646; weighted average note rate of 4.22%; and weighted average broker's price
opinion (BPO) loan-to-value ratio of 44%.
The cover bid, which is the second highest bid for the pool, was 98.28% of UPB
(43.03% of BPO).
Bids are due on Fannie Mae's Community Impact Pool on May 16, 2024.
All purchasers are required to honor any approved or in-process loss mitigation efforts
at the time of sale, including forbearance arrangements and loan modifications. In addition,
purchasers must offer delinquent borrowers a waterfall of loss mitigation options,
including loan modifications, which may include principal forgiveness, prior to initiating
foreclosure on any loan.
Interested bidders can register for ongoing announcements, training, and other information
here. Fannie Mae will also post information about specific pools available for purchase
on that page.
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
Christopher Davis
202-752-7724
Fannie Mae Newsroom
https://www.fanniemae.com/news
Photo of Fannie Mae
https://www.fanniemae.com/resources/img/about-fm/fm-building.tif
Fannie Mae Resource Center
1-800-2FANNIE
Agency MBS Issuance Increases in April; Refis Down
jbancroft@imfpubs.com
Ginnie Mae, Freddie Mac and Fannie Mae printed $85.14 billion of new single-family
mortgage-backed securities in April, a 9.6% gain from March, according to a new
ranking and analysis by Inside MBS & ABS.
The increase was driven by purchase mortgages, with volume up 11.3% on a monthly
basis to $67.87 billion.
The surge in agency refinance business that first showed up in the February data
may be cooling off. Total refi securitization by the agencies
was down 5.2% from March.
United Wholesale Mortgage, the largest seller of loans to agency MBS, increased
its monthly sales by 30.7% to $10.01 billion in April.
***********************************************************************************************
Credit Score Costs Jump; Lenders Point to Lack of Competition
dhollier@imfpubs.com
The cost tied to credit scores when originating a mortgage has increased from
about $50 in 2022 to nearly $250 today, according to a recent white paper
from the Community Home Lenders of America.
And if the costs of credit pulls for applications that didn’t close are added,
lenders’ costs have climbed from between $200 and $250 in 2022 to
between $510 and $725 — or more.
In addition to the FICO price hikes, the big three credit reporting agencies
— Equifax, Experian and TransUnion — have also raised prices. And all
four companies, CHLA said, benefit from near monopolies in the
mortgage market.
During FICO’s first-quarter earnings call, CEO Will Lansing addressed
the criticism over the price increases, saying the firm was “catching up
from 30 years of frozen pricing.” He added, “It’s important for everyone
to understand that we’re talking about single-digit dollars in a bundle
that costs the consumer about $6,000.”
***************************************************************************************
Investors Showing Strong Demand for Non-Agency Loans
jdohnert@imfpubs.com
Maxex, which operates a non-agency platform for trading mortgages,
is seeing increased demand from investors for both non-qualified
mortgages and jumbos. Buyers increasing their allocations to the
sector include insurance companies.
Bill Decker, president and chief operating officer of Maxex, during a
webinar last week said the strong demand for non-QMs comes as
interest rate volatility has had a greater impact on agency production.
“These [non-QM] assets have been somewhat insulated from the
[interest] rate rise,” he said.
Greg Faranello, head of US rates at AmeriVet Securities, a broker-dealer,
said he expects investor activity on the secondary market to continue
improving as the market has dialed back its expectations on interest
rate cuts this year.
“At the end of the day, we’ve hit a decent point here where the market
has repriced and the [Federal Reserve] narrative has changed to
market pricing,” Faranello said. “Given the data that we’re seeing
right now, the markets are in a much better place.”
Can't see what she brings except incompetence. She has proven on many occasiosn not understanding the GSE Conservatorship (by intent).
The poor thing has wigs that are older than 4 generations. At a young 85, she seems to have forgotten the value of money, what's a a few Billions amongst friends.
FNMA
Where are herr numberss and studys, other professional opinions and backing for 150 billion ask of taxpayer funds? this is exactly how DC works, cherry pick a number padded enough to keep their "constituency" happily cashing checks. Max is a moron of the worst sort..
A free give away of billions is not needed, only smarter people need to be involved than what we have in DC.
Even though GSE is full of children like me, I refer to no one specifically in investing or in GSEs, not even Ps.
I say child, only a child can get to heaven, only a child is open enough to not be partially or totally bias, angry, arrogant, egotistical, nor is into or understands the destructive nature of self awareness. the young and the old are the most childlike, one can learn almost anything, the other can accept almost anything they used to avoid or condemn.
The corrupt, lying, deceptive, hate filled gov officials and people like KTCarneyConMen have already seen all their rewards they will ever get. GDE common shareholders will see their day sooner or later.
Tell everyone one on FNMA Donotundestand IS Biden. Stockanalyze is wondering who he works for and why he defends all this mess.
That's one of my fvorite sayings there Monk! Only difference, I say man or person instead of child. It's all good though.
just like that, steal from one to hand out to the other. i get affordable housing, i dont get the connection with GSE conservator, its a conflict of major proportions, your stealing from stable housing and giving to high risk housing. its how GSEs became weaker than they should be in the past, it the excuse Treasury decided to take it over and use it as an excuse. high risk has nothing and i mean nothing to do with stability in housing, and everything to do with taking capitol requirements from where they were generated and needed. she wants to screw GSEs, Obama got away with stealing GSE money for Obamacare, she should not, it will compromise the whole housing industry. she is an angry old dumb racist.
I think every democrat in congress, should give up half their pension and salary to fund affordable housing.
Congressional lawmakers form bipartisan real estate caucus
Three of the four founding members say that their previous experiences working
in real estate are reasons for forming the group and attempting to support the industry
May 6, 2024, 2:17 pm By - Chris Clow
A coalition of four lawmakers in the U.S. House of Representatives — two Democrats and
two Republicans — have come together to found the Bipartisan Congressional Real Estate
Caucus, a group designed to “support policies that allow [the real estate] industry to prosper”
due to its overall importance to the U.S. economy.
The group, announced on Monday, includes Reps. Mark Alford (R-Miss.), J. Luis Correa (D-Calif.),
Tracey Mann (R-Kan.) and Brittany Petterson (D-Colo.). It is publicly supported by the National
Association of Realtors (NAR), the Mortgage Bankers Association (MBA), the National Association
of Home Builders (NAHB), the American Land Title Association (ALTA) and seven other trade groups.
“Real estate represents 16% of U.S. GDP, supports 2.8 million jobs, and generates $50 billion in
tax revenue,” an announcement of the caucus’ formation stated. That’s why it’s necessary to
establish a congressional group dedicated to its needs, the group explained.
Three of the four members describe their previous experience working in real estate as reasons
for helping to form the group and pursue goals designed to support the industry.
“I am proud to serve as a co-chair of the Real Estate Caucus,” Alford said in a statement. “I know
that housing is a key issue for all Americans, and especially for my constituents. Before being
elected to Congress, I owned a small real estate business, so I know firsthand the regulatory
challenges that realtors face every day. I’m honored to be able to chair this caucus and work
together to solve real estate issues.”
Correa also spoke about his time working as a real estate broker, saying that the business
helped him to see “firsthand the role real estate plays in uplifting Main Street and hard-working
American taxpayers,” he said. “Our Caucus will bridge the partisan divide and push Congress
together to deliver real estate policy that will benefit soon-to-be homeowners across the country
and help so many families get one step closer to fulfilling their own American Dream.”
Mann attributed burdensome regulations and high-cost materials as deterrents for the housing
market. He formerly served as a commercial real estate agent, which he believes should translate
well to the goals of the caucus.
“Real estate agents and developers should be empowered to provide housing options for all
Americans, generate jobs, and offer top quality services for homeowners — not handcuffed
by overreaching federal regulations from Washington, D.C.,” Mann said.
Petterson focused on the way the real estate industry can help to facilitate the American dream.
She added that she is “proud to be a founding member of this caucus as we work to champion
policies that will increase our housing supply and accessibility, make it easier to buy a first home
or leave a home you’ve outgrown, and foster a market that is beneficial for all.”
The trade groups listed as supporters praised the launch of the new caucus.
“Lawmakers from across the political spectrum are in overwhelming agreement that this nation
is facing a housing affordability crisis,” NAR said in a statement. “Homeownership is a bipartisan
issue, and we applaud these members of Congress for forming a caucus to work across the
aisle to make housing more accessible.”
MBA also applauded the creation of the caucus, saying it will help “advance housing policy” for
renters and prospective homeowners.
“MBA looks forward to working with this bipartisan group to help more Americans achieve their
dream of housing choice — be that sustainable homeownership or affordable rental
opportunities,” MBA said.
Return of the Housing Godzillas
— Cmdr Ron Luhmann (@usnavycmdr) May 7, 2024
Freddie Mac & its Biden regulator want to guarantee second mortgages. What could possibly go wrong?
May 5, 2024 4:46 pm ET
Housing godzillas Fannie & Freddie threatening the countryside again, and better hide the children. https://t.co/nEY7dMnEdp
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