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To be aware: PUMP and DUMP scenario. $0.40 - $0.48 range and back to $0.40. Volume 2-2.5M. Occurs once a month.
Do not get involved in this game to avoid losing money. Let them buy and sell to themself.
2.5M traded FNMA shares, it's a small volume. At minimum 4M to be traded for 4-5 days in a row.
Otherwise, it's just another Pump and Dump scenario. Just ignore it. Let them buy and sell to themself.
I would believe in FNMA PPS surge if the volume would exceed 3.5 mln, but today it's just 1.5. Let them buy and sell to themself.
Spspa are doomed. Fortunately. Commons would win.
Nobody did anything good for the FNMA/FMCC shareholders for the last 14 years.
The same scenario that is executed frequently (on average once in 2 month), FNMA PPS are up to $0.50 for a few days and then are back to $0.40.My advise,do not participate in these games.
Let them buy and sell to themself. Wait until any major news and look for the increased volume.
The same scenario that is executed frequently (on average once in 2 month), FNMA PPS are up to $0.50 for a few days and then are back to $0.40.My advise,do not participate in these games.
Let them buy and sell to themself. Wait until any major news and look for the increased volume.
The same scenario that is executed frequently (on average once in 2 month), FNMA PPS are up to $0.50 for a few days and then are back to $0.40.Think twice if You want to participate in these games.
The same scenario that is executed frequently (on average once in 2 month), FNMA PPS are up to $0.50 for a few days and then are back to $0.40.
Think twice if You want to participate in these games.
It looks like it's the same group playing with the FNMA/FMCC shares,low volume in the up and down scenario. Also they are trying to keep FNMA and FMCC PPS in sync.
Day after day,month after month,year after year and no changes.Two of the most profitable companies have their PPS at $0.40.
Shareholders finance reality is grim. Add a human factor: it created a harsh finance situation in the shareholders families.
It's a pump and dump scenario. For next 3-4 month FNMA PPS could be expected to be within a range $0.40-$0.60. Some minor change could happened after July court, depending on a result. Just minor impact. I'm not expecting any changes until 2025.
The damages/remedy request should be revisited. If it's the initial $1.6, it's an insult to shareholders.
We need to ask Plaintiffs legal team to disagree to this $1.6.
Why it takes that long for this trial to begin on 7/24/2023. It's already discussed 10,000 times,and
this trial had to begin no later than 90 days after the previous trial completed, which means
no later than February. And again, plaintiffs legal team agreed to delay it to July.
Judge Lamberth entered a paperless order this morning saying, “After consultation with the parties regarding availability, it is hereby ORDERED that a jury trial is set to begin on 07/24/2023 at 10:00 AM in Courtroom 15 (in person).
Vancmike, in addition please send this GSE letter to one more republican member of the congress Victoria Spartz - she is a Ukrainian-born American politician and businesswoman who is the U.S. representative for Indiana's 5th congressional district. Thanks
Useless is sitting and doing nothing, just send letters to congress
To All of the FNMA/FMCC shareholders. Please send a letter/e-mail to the below persons on behalf of the FNMA/FMCC shareholders.It's very important to send a letter/e-mail, in order to address the ongoing FNMA/FMCC issue.
To: House speaker Kevin McCarthy
Chairman of the House Financial Services Committee - Rep.Patrick McHenry.
Subcommittee on Housing and Insurance - Rep. Warren Davidson.
Subcommittee on Financial Institutions and Monetary Policy - Rep. Andy Barr
Please stick to the facts: FHFA plan for the 2022-2026 period doesn't include FNMA\FMCC
release, and the 2028 date could be easily extended to 2050. Are You going to wait?
To All of the FNMA/FMCC shareholders. Please send this letter to the below persons on behalf of the FNMA/FMCC shareholders.It's very important to send this letter, in order to address the ongoing FNMA/FMCC issue.
To: House speaker Kevin McCarthy
Chairman of the House Financial Services Committee - Rep.Patrick McHenry.
Subcommittee on Housing and Insurance - Rep. Warren Davidson.
Subcommittee on Financial Institutions and Monetary Policy - Rep. Andy Barr
Subject: Theft from pension funds, State employee retirement accounts, and U.S. Citizens
This letter has two purposes:
1) To add to your knowledge of the illegal government nationalization of the government sponsored enterprises (GSEs), Fannie Mae (FNMA) and Freddie Mac (FMCC)
2) To request congressional intervention to force the Treasury/FHFA to release them from 14 Years of conservatorship
The release of the GSEs will be a win for the U.S. House Committee on Financial Services and a major win for the American people.
The GSEs have been in a wrongful conservatorship for over 14 years, despite their very strong financial condition. The GSEs hold over $7 Trillion dollars of mortgages. They have a loan to value (LTV) of over 50%, fifty percent. The average FICA score of these loans is over 750. The GSEs have a combined net worth of $94 Billion dollars reserved as of the end of Q3, 2022. FNMA has a 2022 YTD net profit of $11.5 Billion dollars, and FMCC has a 2022 YTD net of $7.6 Billion dollars. The GSEs far exceeded the Dodd-Frank required stress test, in its worst-case test scenario. Conservatorship is not needed! In fact, until being placed in this unlawful conservatorship, Fannie Mae has been successful and well managed, since its inception in 1938!
This fraud perpetrated by Treasury/FHFA has wiped out the retirement funds of many citizens. The FHFA has kept them in conservatorship for so long it diminished the value of FNMA and FMCC stocks, affecting over one hundred thousand stock holders who have relied on the dividends to supplement their retirement. This action damaged millions more people who owned FMNA and FMCC in mutual funds, 401ks and pension funds.
The HERA (Housing Economic Recovery Act of 2008) passed by Congress, required the FHFA to put FNMA and FMCC in a sound and solvent financial condition. It also states, no dividends shall be paid until Fannie Mae and Freddie Mac have the required capital reserves. Interesting. Below in the next paragraph you will see the Net Worth Sweep prevented any profits from being reserved.
Ironically, once Treasury/FHFA placed the GSEs in conservatorship, they created a special class of stock to be paid dividends to themselves, while depriving other stockholders! Think about that! The FHFA, the Conservator Authority, abandoned its fiduciary responsibilities and deprived the GSEs of any ability to rebuild their capital reserves. As one judge of a legal case in-flight right now, observed “This resembles a mafia-style loan”. In effect, it is never allowed to be paid off.
What is more extraordinary, is how Treasury/FHFA did this. There are numerous documents, court filings, and articles written about this. At the time of the 2008 real estate crash, the wall street banks were holding $187 Billion dollars of toxic loans on their collective books. They needed to off-load these loans to the GSEs. That was the usual process of business to free up the banks’ capital, thus allowing them to make new loans. But the GSEs had governance rules too, that regulated what type of loans they could absorb. These bank loans were toxic. They did not want to do it. So, Treasury/FHFA came up with a plan.
FNMA and FMCC were profitable operating companies that did not need to be placed in conservatorship. The GSEs had over $60 billion dollars in reserve. Without absorbing “toxic loans” they could easily weather the severe 2008 economic head winds.
A. In 2008, Henry Paulson, Treasury Secretary, orchestrated the conservatorship, even though NONE of the criteria for conservatorship were met. (see attachment). Treasury Secretary Paulson met with the boards of FNMA and FMCC. He coerced them to place the $187 billion dollars of toxic loans assets on FNMA and FMCC books. In return Treasury would give the GSEs a $187 billion dollar compensating loan, at ten percent interest, 10%, while banks were charged only four percent, 4%. Then placed the GSEs in conservatorship. Once that occurred, the Conservator Authority (the Treasury/FHFA) issued themselves warrants to purchase 79.9% of the companies (because they could) for practically nothing.
B. Before the above actions were taken, in the Oval Office on September 4, 2008, President Bush directed to Treasury Secretary Paulson, “we have to make it clear that conservatorship is transitory, because otherwise it looks like nationalization.” In reply, (Quoting from Henry Paulson’s book, On the Brink), “The board of directors won’t know what hit them until their heads hit the floor.” He later bragged, “They had $187 Billion in toxic assets on their books. We had to Nationalize them.”
C. By 2012, the real estate market turned around. The GSEs reported projections to the FHFA with a return to profitability for the foreseeable future, as before. The GSEs would be entering “Golden Years of profitability”.
D. Ed DeMarco, Acting Director, FHFA, an unelected bureaucrat, never approved by the Senate, admitted in court, he consulted no one in his decision to implement what was soon to be called, the “Net Worth Sweep”, August, 17 2012. Basically, the FHFA, the Conservator Authority swept all quarterly profits of the GSE’s in perpetuity, in spite of their profitability projections, without any congressional approval or oversight!
E. The “Net Worth Sweep” resulted in the launch of multiple lawsuits, (see judges’ comments in the attachment). Ed DeMarco stated in court under oath, these actions were based on his own political beliefs, without regard to data and the law, changing the GSE’s contract loan from ten percent, 10%, to one hundred percent, 100%, of the GSEs net worth in perpetuity. Think about this! Additionally, the Liquidation Preference increases for every dollar of profit the GSEs made. There are over eleven thousand emails and documents unreleased and hidden from the public under Presidential seal. The few documents released in court, highlight the planned theft.
F. As of mid-2022, the GSEs have repaid $385 Billion dollars, against the cumulative loan of $191 Billion dollars!! Think about that! Yet they remain in conservatorship and the loan principal has not been reduced. This is a $194 Billion dollar “takings” by the Treasury/FHFA.
Nationalization of the GSEs is a violation of the fifth amendment of the U.S. constitution, “a takings without compensation”. Shareholders have received nothing.
The conservatorship has also affected the cost of home mortgages. Before the conservatorship of the GSEs, the average guaranteed loan fee on home loans was 25 basis points. Today it’s nearly 2x as much, hovering around 56 basis points, representing a hidden tax.
Shareholders, mutual funds and pension funds, along with many community banks, have been wronged. We are requesting administrative action to declare the GSE’s loan paid, eliminate the warrants, zero out the liquidation preference and return over payments beyond the original forced contract loan.
The fraud and corruption are replete. There are currently numerous lawsuits on-going, highly contested by the DOJ. The DOJ has spent an estimated $100 million dollars over fourteen years to keep this theft from being exposed to the public, putting forth legal technicalities in this legal battle.
End this Fraudulent Conservatorship
It is overdue to release Fannie Mae and Freddie Mac from the chains of conservatorship. The current FHFA director Sandra Thompson testified during her confirmation hearing, that she will take her direction from Congress. Congress needs to act, as oversite responsibility, directing Sandra Thompson and FHFA to End the conservatorship.
We ordinary average citizens, need representation against this injustice.
Thank you for your consideration.
Sincerely,
Rodney,Bredford,Robert from yahoo bd - I'm asking for assistance to create a letter/e-mail regarding FNMA/FMCC ongoing issue to be sent to the following congress members on behalf of the shareholders.
House speaker Kevin McCarthy
Chairman of the House Financial Services Committee, Patrick McHenry (NC-10).
Subcommittee on Housing and Insurance—Rep. Warren Davidson (OH-08)
Subcommittee on Financial Institutions and Monetary Policy—Rep. Andy Barr (KY-06)
Shareholders must send an e--mails and letters regarding FNMA/FMCC ongoing issue to the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10):
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) recent actions regarding the registration of nonbank financial firms.
“This is another attempt by Director Chopra to unilaterally expand the CFPB’s authority beyond Congress’ intent and to mandate what Democrats were unable to legislate,” said Chairman McHenry. “This proposed registry of terms and conditions will facilitate the naming and shaming of firms to empower progressive activists. Requiring nonbank financial firms to register publicly with the Bureau is unprecedented—no other industry is required to make public such detailed contract information. The days of Congress giving Director Chopra a free pass for his reckless actions have come to an end. Committee Republicans will finally ensure Director Chopra and the CFPB are held accountable
Shareholders need to make noise:write letters,send e-mails to congressmens etc. Be pro-active. Even it wouldn't help, it will remind, that there is an open issue and shareholders still exist(see below). Send e-mails and letters to Rep. Warren Davidson, Rep. Andy Barr
Subcommittee on Housing and Insurance—Rep. Warren Davidson (OH-08)
The subcommittee’s jurisdiction will cover, among other things:
Developing and pursuing policies that increase and strengthen our housing market, including increasing our nation’s housing supply
Overseeing HUD and FHFA policies and operations
Identifying best practices and policies that continue to strengthen diversity and inclusion in the housing industry
Subcommittee on Financial Institutions and Monetary Policy—Rep. Andy Barr (KY-06)
The subcommittee’s jurisdiction will cover, among other things:
Overseeing the operations and policy development of the prudential financial regulators, the CFPB, and the Federal Reserve and its 12 reserve banks
Identifying policies that grow and stabilize the financial system and broader economy
Identifying best practices and policies that continue to strengthen the financial industry’s commitment to diversity and inclusion
Shareholders need to make noise:write letters,send e-mails to congressmens etc. Be pro-active. Even it wouldn't help, it will remind, that there is an open issue and shareholders still exist.
The quicker the lawsuits end, then the better. Could be that one of the lawsuits,award shareholders with "peanuts" amount, after plaintiffs legal team would get their portion of the award. And it's a "maximum award" shareholders could expect.
Possible, after the lawsuits end, in a few years re-IPO would occur, but when it would happened is unpredictable(2028 could easily become 2040...etc).
To All of the naive people at this site: all of the writings are worthless, and today's Scotus decision just proved it.
It's a must placard action to be held - 2 times per month.Also, a shareholders conference to be held ASAP.
It's a deadlock situation, and only shareholders activity could change it
Only shareholders activities could change current deadlock. Just writings is a waste of time.
Instead of ideas how to improve the current FNMA status,only useless "bla-bla-bla" type writings. What a shame.
It's pump and dump one more time, and it happened numereous times(on average 4-5 times per year for the last 3 years).
Are there any chance for the shareholders to get some reward in 2023?
#NEW: @Patrick McHenry
selected as Chairman of the House Financial Services Committee for the 118th Congress.
We need to send to Patrick as many as possible e-mails to @PatrickMcHenry.
Both individual and from the group of shareholders
There is no information in regards to re-trial court, that should be completed by mid-February. Such a disrespect to the shareholders is difficult to imagine.
What's happens to FNMA and FMCC stocks it's a shame and it would impact a desire to buy US stocks by international investors.
Vast majority of the investors clearly understand what's going on with FNMA/FMCC starting with 2008 until 2022.
A lot of theories, conversations, but there is one thing in common for All of the shareholders: we are losers. Even, if we will get some reward later,
2023-2028, vast majority of shareholderds either wouldn't see it, or would be too old to use it. The same could be applied to the shareholders families.
Sad story.
Not to write a letter to the House Republicans weekly on behalf of All shareholders would be a mistake.Just start doing it ASAP.
5th Circuit schedule (12/01/2022-02/28/2023) yet doesn't include re-trial of the Fairholme vs FHFA case. When this re-trial would take place?
It should be done no later than the end of February, as law requires. Why plaintiffs legal team doesn't provide an update?
Plantiffs team performance for the last 10 years is a complete failure: they didn't win even one case. What a shame!
Do it every week: Write a letter to the House Republicans on behalf of All shareholders and let them know
Write a letter to the House Republicans weekly on behalf of All shareholders and let them know.