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If this article is has any accuracy..... and it is from Bloomberg, this means our only hope is in the courts. I am surprised Fannie Mae is not plunging right now.
Mnuchin speaks again tomorrow!!
Next up is Wednesday's remarks. I can't imagine that Mnuchin would say exactly the same thing over and over. With different people in the conversation there's bound to be better clarity on what he's thinking come out day after tomorrow.
I just wish I had a dollar for everytime he said "again."
The question is now who do they mean by "investors?" Are they talking preferred holders only, or everyone?
Yeah that's where I am confused. If it's retroactive or not. I would guess that it is because it doesn't serve much purpose going forward. It's the things in the past that everyone is concerned about.
So apparently it passed. What next? I still don't understand what the details are as they affect us. Anyone care to enlighten me?
5 more minutes, i believe
Now that is encouraging! It would be awkward to agree to speak at a function such as that if his stance was opposed to their tenets, imo.
What I like is that the "latter half" begins in 8 weeks!
"Steve Mnuchin said the Trump administration will take up reform of the two mortgage finance agencies in the latter half of 2017. "
"We will be working on it in the second half of the year."
Thanks, Nikki.
I don't get Fox. But if this is what he said, it is the most pertinent mention of our investment that he has made, that I can remember. Anything else he said that is worth mentioning?... anyone?
He has never addressed Fannie Mae or Freddie Mac subject yet. Typically there is mention of something several times over a period of time before anything is ever done because he likes to grand stand. I think today's action was pure speculation by those jacked up on hopium and those covering shorts. Nothing more. It would be very unusual if we did not have to wait a long time like we always have. That is the most honest, realistic scenario I can think of.
Link please.
Mnuchin
All of his answers in the Q&A were non answers. It tells something about his manner....to use very broad answers, no detail, and he's almost evasive.
Veep Economist Calabria Hints at No Official Plan for Fannie/Freddie Yet
By Carisa Chappell
cchappell@imfpubs.com
Despite various rumblings suggesting that a GSE reform plan may be in the works, the Trump administration appears to have no pending blueprint for solving the issue of what to do with Fannie Mae and Freddie Mac.
Speaking on a housing affordability panel sponsored by the American Enterprise Institute earlier this month, Mark Calabria, Vice President Mike Pence’s chief economist, said the administration may even go with the 2013 GSE reform plan put forth by Senators Bob Corker, R-TN, and Mark Warner, D-VA.
Calabria, former director of financial regulation studies at the Cato Institute, got some observers excited about reform when speaking at an American Bankers Association event in March, where he said that a “set of principles” on GSE reform was likely to emerge in the coming months.
But now that doesn’t seem to be so much of a guarantee with his latest comments. “Maybe we end up in the exact same spot as the last generation, maybe we end up with Corker-Warner,” said Calabria. For the full story, see the new edition of Inside The GSEs.
Other areas of interest: Originations, Servicing, Secondary/MBS, Regulatory, Fannie, Freddie, GSEs
Rek, Why do you say that?...
"It is safe to say that uplisting will never occur (at least not in the next decade), even if the stock gets out of conservatorship and the NWS ends.
No matter what the future of our company is, it is not to revert to its previous position on the exchange."
We have been waiting/talking about, all day for the president to sign the executive orders to see if he said something about Fannie and Freddie. Did anyone detect anything that should be discussed here that implicates Fannie and Freddie that he might have hinted at?
Anyone else listen to the president? Sounded like nothing concerned us.
One thing seems certain ..there are no leaks... judging from the non existent volume. Of course that may mean that there is nothing to leak. That's fairly likely, as this could take many more months to play out. We are dealing with the government and courts.
I want to believe too. But we're still faced with the original issue... is it going to survive in the same form that it is now? It's possible this stock takes all one's money, but it SURE takes all of one's time.
Well, that was fun. Next!
Not encouraging........
"The plan doesn’t address what could happen to current shareholders of Fannie and Freddie. In its outline of potential ways to transition to the new system, the MBA said the companies could be put into receivership or could create subsidiaries, unburdened by guarantees on legacy-mortgage backed securities, which could then be spun off into the private market.
MBA Chairman Rodrigo Lopez said the transition could take as long as 10 years to avoid market disruption and give time for new companies to be formed.
"
There is only one executive order.
There is this clarification at the bottom of the article....
"Clarification: After sources indicated to CNBC that President Donald Trump would sign two executive orders, subsequent reporting showed it will likely be one executive order and two presidential memoranda."
Why so, donot?
There has been a lot of grasping at straws on this board. It is silly and has gone on for so long that it is really annoying. ACA issues simply do not translate to Fannie Mae issues. Stop kicking that dead horse.
If Alex Jones' income didn't depend on a regular stream of fresh new conspiracies, there would not have been the story that started this whole ridiculous connection between Fannie Mae and the Affordable Healthcare Act in the first place. Thoroughly silly. Enough already.
Train wreck
When I go to.......
https://oakridgeglobalenergy.com/
my Avast malware detection software says a threat has been detected coming from their website.
They only have one picture of one product. None of the other products are pictured. An employee reporting on the website Glassdoor says there are no products being produced.
http://www.wftv.com/news/local/palm-bay-company-fails-to-pay-employees-despite-tax-incentive-offer-from-state/479797479
https://www.glassdoor.com/Overview/Working-at-Oakridge-Global-Energy-Solutions-EI_IE1335858.11,43.htm
ww,
You sound like you have done your homework on this company. Do you happen to know the status of the recent lawsuit? Any info would be appreciated. Thanks
https://www.law360.com/classaction/articles/881100/laser-maker-s-ceo-attys-face-suit-over-share-increase
I think it is absurd to conclude that Obamacare gets all its support from the net worth sweep. What started out as Infowars conjecture is now morphed into " irrefutable truth" just because it was parroted so much by investors high on hopium.
Nothing brought up at all.
Thanks everyone, for the answers. Easy to guess there was no mention. It's just that I hate to be guessing on something with this potential, when a definitive answer with some details is available. Thanks again.
Really? No one is going to answer me?
........."Can somebody give a definite report on the interview for those of us who did not see it? Where the gse's touched upon? Thanks in advance. "
Can somebody give a definite report on the interview for those of us who did not see it? Where the gse's touched upon? Thanks in advance.
Navy, this says7am. I wonder which is right?
"President Donald Trump will sit down with Maria Bartiromo for an interview that will air Wednesday at 7:00 a.m. ET on Fox Business Network.
http://insider.foxnews.com/2017/04/11/president-trump-interview-mornings-maria-bartiromo-fox-business-network
edit...I just played the video blurb on that page and it says 6.
Wierd.
I understood it was to be live.
Could be. That is OLD news.
It is "Lemmings" in my opinion... they can drive it both ways.
Perhaps you guys could form a Rick Nagra board instead of spamming this thread with mindless posts?
Benzinga... (BZ Newswire) --
"The path forward for Federal National Mortgage Assctn Fnni Me (OTC: FNMA) and Federal Home Loan Mortgage Corp (OTC: FMCC) shareholders has gotten much narrower in the past five months. According to Height Securities' Edwin Groshans , that path may also be much longer than investors realize.
Fannie Mae and Freddie Mac recently paid their full $10 billion Q4 dividends to the U.S. Treasury, dispelling any rumors that the Trump administration may immediately begin the process of recapitalizing Fannie and Freddie and returning control to shareholders.
Each quarter Fannie and Freddie pay 100 percent of their income to the government bumps back the timetable for potential recapitalization. Height estimates that at this point, it would take five to six years for Fannie and Freddie to get to the 4.5 percent minimum Tier 1 Common Equity ratio if they stopped paying dividends entirely.
“However, the compliance timeframe extends to 16–21 years using a capital surcharge of 250 basis points (bps) and systemically important financial institution (SIFI) buffer of 100 bps while paying a 5 percent dividend to Treasury,” Groshans explained.
Dodd-Frank And The Courtroom
Of course, Fannie and Freddie shareholders could argue that President Trump has said, “We’re going to do a very major haircut on Dodd-Frank.” Those Dodd-Frank roll-backs could reduce the potential capital requirements necessary for Fannie and Freddie to be release from government conservatorship.
Back in February, Fannie and Freddie shareholders suffered a major blow in the courtroom when an appeals court ruled that investors could no longer pursue legal claims against the U.S. government related to the government’s “net worth sweep” of Fannie and Freddie’s profits. Shareholders have argued that the government illegally amended the terms of Fannie and Freddie’s conservatorship, and that shareholders have a legal claim to Fannie and Freddie’s profits.
So far in 2017, Fannie Mae and Freddie Mac shares are both down more than 38 percent.
Related Links:
Despite Courtroom Losing Streak, Legal Action Still Best Route For Fannie Mae, Freddie Mac Shareholders
Fannie And Freddie Shareholders Shouldn't Expect Resolution In 2017"