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Fannie Mae Prices $1.03 Billion Multifamily DUS REMIC (FNA 2013-M13) Under Its Fannie Mae GeMS(TM) Program
"We structured the M13 deal with three distinct groups of collateral to appeal to investor demand at multiple points on the curve," said Josh Seiff, Fannie Mae Director of Multifamily Capital Markets. "In particular, we have experienced continued success with the floating-rate tranche backed by seasoned fixed-rate paper for shorter duration bonds."
All classes of FNA 2013-M13 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal.
http://www.4-traders.com/FEDERAL-NATIONAL-MORTGAGE-6383239/news/Federal-National-Mortgage-Association--Fannie-Mae-Prices-103-Billion-Multifamily-DUS-REMIC-FNA-2-17373047/
The average rate for the 30-year fixed-rate mortgage rose to 4.28% in the week that ended Oct. 17 from 4.23% in the prior week, according to a Thursday report from federally controlled mortgage buyer Freddie Mac. "Fixed mortgage rates edged up leading to the federal budget deadline this week," said Frank Nothaft, Freddie's chief economist. A year earlier, the rate was at 3.37%. The average rate for the 15-year fixed-rate mortgage rose to 3.33% in the latest week from 3.31% in the prior week. Meanwhile, the rate for a 5-year Treasury-indexed hybrid adjustable-rate mortgage increased to 3.07% from 3.05%. The rate for a 1-year Treasury-indexed ARM ticked down to 2.63% from 2.64%.
http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-428-2013-10-17-1091019
Go FnF!
It is still too soon for the Federal Reserve to reduce the pace of its asset purchase program, said Charles Evans, the president of the Chicago Fed, on Thursday. "The data are still not definitive enough to say that now is time to adjust the QE3 flow purchase rate," Evans said in a speech to a real estate conference in Madison,Wis. Evans said it is not possible to predict the timing of changes to the asset purchase program because it depends on the progress the economy makes. Evans said he would personally like to see "more steady, solid growth" in GDP data to be confident in the enduring strength of the labor market. Evans is a voting member of the Fed's policy-making committee this year. He is one of the leading supporters of the asset purchase program at the central bank.
http://www.marketwatch.com/story/feds-evans-says-still-too-soon-to-taper-2013-10-17
Just a sample for those smartass who argue that "they" can not violate the laws. AIG may be the mirror of FnF, which could be a win/win situation for us without doubt. gl
Everything has been coldly calculated. Luckily FnF are economically essentials and will be restored for convenience, not "by the people, for the people .... as I said a while ...
Go FnF!!
Let's see what new news will come out of the next hearing on October 22nd. Everything looks good.
Senate apparently reach a deal to pass a bill, but not for long-term. Tonight expected Senate voting, following by House voting. The debt ceiling are been use as a weapon of manipulation, to delay the tapering, of course FnF are involved...wait more Treasury/Fed control, rise of interests, inflation
GLTA
Senate apparently reach a deal to pass a bill, but not for long-term. Tonight expected Senate voting, following by House voting. The debt ceiling are been use as a weapon of manipulation, to delay the tapering, of course FnF are involved...wait more Treasury/Fed control, rise of interests, inflation
GLTA
Not that i know!
Green+red=Yellow
The United States Does Not Need a Debt Ceiling
When you consider that the United States guarantees the $6 trillion in debt and mortgages of Fannie Mae and Freddie Mac during conservatorship, the U.S. debt is at least $22.7 trillion, but Congress is not concerned with this fact. This only shows that the ceiling of our debt will continue to rise, so why have a limit?
Today, Congress and the White House are putting the global leadership of our country at risk. We do not want a weaker dollar. We can't afford not to have countries around the world invest in U.S. debt, debt that should always be known as a risk-free investment.
http://www.thestreet.com/story/12069825/1/the-united-states-does-not-need-a-debt-ceiling.html
Bank of America Shrinkfest Has Investors Slavering
Bank of America was the hardest hit of the big banks by problem mortgage loans tied to the subprime housing boom, so it should have an easier time reducing expenses than peers, according to Paul Miller, analyst at FBR Capital Markets. Miller says JPMorgan Chase (JPM_), which reported earnings Friday, did a poor job reducing expenses. Indeed, JPMorgan Chairman and CEO Jamie Dimon sounded pessimistic long-term on his bank's ability to cut costs given intense regulatory scrutiny that shows no sign of letting up.
"They have done a great job telling everybody this is behind them. We have to wait and see. I'm one of the guys who thinks there's more [negative surprises] coming," Miller says.
http://www.thestreet.com/story/12070005/1/bank-of-america-shrinkfest-has-investors-slavering.html
That's why both bills will have the same fate, garbage can
FnF always were trading under QB classification. Erroneously in IHub appeared as BB (Bulletin Board) old classification that included the Pinks. The status of both must change once they reach high financial standards, as per FINRA qualification criteria. The important thing is that the feelings are definitely changing in our favor and it seems that in the near future, when they reach net zero (can be next Q3) FnF should reach the status they deserve according to it's importance on our economy.
GL
OTC markets are primarily used to trade bonds, currencies, derivatives and structured products. They can also be used to trade equities, such as the OTCQX, OTCQB and OTC Pink marketplaces (previously the OTC Bulletin Board (OTCBB) and Pink Sheets) in the U.S. Broker-dealers that operate in the U.S. OTC markets are regulated by the Financial Industry Regulatory Authority (FINRA).
OTC markets are typically bifurcated into the customer market – where dealers trade with their clients such as corporations and institutions – and the interdealer market, where dealers trade with each other. The price a dealer quotes to a client may very well differ from the price it quotes to another dealer, and the bid-ask spread may also be wider in the case of the former than in the latter.
Although Nasdaq operates as a dealer network, Nasdaq stocks are generally not classified as OTC because the Nasdaq is considered a stock exchange. As such, OTC stocks are generally unlisted stocks which trade on the Over the Counter Bulletin Board (OTCBB) or on the pink sheets
Definition of 'OTC QX'
The top tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. The OTCQX forum offers the best marketplace of these three tiers for companies that fulfill qualification criteria. To qualify for an OTCQX listing, a company must meet high financial standards, be current in its disclosure and be sponsored by a professional third-party advisor.
Definition of 'OTC QB'
The venture stage marketplace for smaller or early-stage companies that report to a U.S. regulator such as the SEC or FDIC. The OTCQB is the middle tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. The OTCQB has replaced the Financial Industry Regulatory Authority (FINRA)-operated OTC Bulletin Board (OTCBB) as the main market for trading OTC securities that report to a U.S. regulator. As it has no minimum financial standards, the OTCQB includes shell companies, penny stocks and small foreign issuers.
Definition of 'OTC Pink'
The lowest tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group.
Robert Shiller said the U.S. Federal Reserve's economic stimulus and growing market speculation were creating a "bubbly" property boom.
This was the case in the collapse of the U.S. housing market, which helped trigger the 2008-2009 global financial crisis. Markets are at risk of committing the same error now, Shiller told Reuters after learning he had won the Nobel prize. This was the case in the collapse of the U.S. housing market, which helped trigger the 2008-2009 global financial crisis.
Shiller's work led him to suggest in 2005 that the U.S. housing market might be overheating. He helped create a closely watched gauge of housing prices, the S&P Case/Shiller Index.
Shiller and other economists warn that prices in some markets have risen too far, too fast due to the Fed's ultra-easy monetary policy.
In June this year, he pointed to a potential new housing bubble in some of America's largest cities.
"It is up 12 percent in the last year. This is a very rapid price increase right now, and I believe that it is accelerated somewhat by the Fed's policy," he said.
The Fed has held U.S. interest rates near zero since late 2008 and almost quadrupled its balance sheet to around $3.7 trillion through a campaign of bond buying, or quantitative easing, to hold down long term borrowing costs.
The bubbling housing market is not mainly the result of central bank policy, but reflects a shift toward "a more speculative attitude"
http://www.reuters.com/article/2013/10/14/us-nobel-economics-idUSBRE99D07F20131014
It seems that they are reached some agreements about how to screw us more... as per CNBC, some news about tax increase. At 3 pm Senate leaders will give a press conference in the White House
updating: Meeting postponed to give Senate more time to work on deal...
Just give her more concentrated protein bro...
Credit where it is due, and this is not a statement of political position, only notes that all that has been happening so far, corresponds exactly with what he said in the Phoenix speech on 08/06/2013. The desire of the more recalcitrant Republicans has been, as they have said openly, shut down FnF no matter the consequences. Remember that the day after the speech, in the Zillows show, Obama clearly stated that the intention is Reform FnF, instead of using the controversial term winding down. For me, Republicans, Democrats, Independents and all the relatives, are a bunch of despicable and opportunistic parasites of folks. I appreciate your strong DD ... glty
I have no trust in either WP or others, I do not care who represent, for me they are all proxies.. look another links, this is not only in WP
http://features.rr.com/article/033EdUWgLr6ho?q=Barack+Obama
http://www.startribune.com/nation/227490421.html
http://www.usgovernmentportal.com/obama-talks-leading-back-deficit-debate-g759996255-p3?language=en
http://www.ask.com/web?am=broad&q=obama+gov&an=google_s&askid=64680c5f-f91a-4826-91fa-29d0b890d7ea-0-us_gsb&kv=sdb&gc=0&dqi=A%2Blong%2Bhard%2Broad%253A%2BObama%252C%2BGOP%2Btalks%2Bpave%2Bway%2Bback%2Bto%2Bdeficit%2Bdebate&qsrc=999&ad=semD&o=2472&l=dir&_=1
http://www.theintelligencer.com/news_ap/politics/
http://www.globalne.ws/Latest/D/4028810e419ac30f0141abcea94b6b5c/A-long-hard-road:-Obama,-GOP-talks-pave-way-back-to-deficit-debate#.UltcuFCfgtc
A long hard road: Obama, GOP talks pave way back to deficit debate
Q: So, Obama says deficits have been cut in half while he has been president. Is that true?
A: Yes, but it’s not all his doing. The economic recovery, though modest and fitful, has resulted in businesses and individuals paying more taxes. And the spigot that rushed out spending in 2008-2009 has been turned off. In addition, the interest on the national debt has been kept low thanks to low rates set by the Federal Reserve and the government related mortgage companies of Fannie Mae and Freddie Mac have made payments to the federal government that have been greater than expected.
http://www.washingtonpost.com/politics/federal_government/a-long-hard-road-obama-gop-talks-pave-way-back-to-deficit-debate/2013/10/11/f3dcbdf6-32d1-11e3-ad00-ec4c6b31cbed_story.html
That's the point, enhance functionality, better technology integration, less risky mortgage loans, in the end, aim for Zero Defects to continue doing what they know doing well for many, many years.
Go FnF!!!
Why spend so much efforts and $$ on something that will go away?
Preparing a Foundation for a More Efficient
and Effective Housing Finance System
http://www.fhfa.gov/webfiles/23930/FHFA%20Draft%20Strategic%20Plan%202013-2017.pdf
Another important reason is that government support encourages the origination of loans with lower rates and more favorable terms for the consumer. Not coincidentally, these loans have been far less likely to default. For example, mortgages originated for Fannie and Freddie securitization performed roughly five times better than mortgages originated for private-label securitization, which suffered nearly a 30 percent delinquency rate following the collapse of the housing markets.
http://www.usnews.com/debate-club/should-the-federal-government-provide-support-to-the-mortgage-market/letting-mortgage-markets-collapse-is-worse-than-bailing-them-out
100K, 100K, 224K, 100K, 742K, 100K, 466K.....again some fools retails, wich doesn't know what they doing.....HA
What Sprint!!! Go FnF
the same thing happened yesterday, then bought large blocks in the last seconds, Artificial Intelligence!
Go FnF!
Some fool retail who doesn't know what he's doing!
Let see if makes any similar nonsense on Common... :)
Go FnF!!!
This stock is short interest paradise! Hopr they cover soon!
You don't need more... great great statement!!
That's not even enough for a lab test..lol
gl
L2 went crazy?
True, unfortunately ... I read some parts in this report that sound somewhat cynical and others that don't sound good for the future ... time will tell
thanks anyway and gl MB
Can you look at this beast and give a diagnosis and treatment please? :)
gl
The Simpsons??
The Island of Dr. Moreau lol, good one...
Can you help with this mammoth? Things to read between the lines ..
FNMA Form 10-Q
FNMA income of $69.6 billion in the first half of 2013,
Pre-tax income, which excludes the benefit for federal income taxes, was $20.2 billion in the first half of 2013
FNMA net worth increased to $13.2 billion as of June 30, 2013 from $7.2 billion as of December 31, 2012,
We have established responsible credit standards to protect homeowners as well as taxpayers. Since 2009, we have seen the effect of actions we took, beginning in 2008, to significantly strengthen our underwriting and eligibility standards and change our pricing to promote sustainable homeownership and stability in the housing market.
We have provided approximately $3.7 trillion in liquidity to the housing market since 2009
LEGISLATIVE AND REGULATORY DEVELOPMENTS...
CRITICAL ACCOUNTING POLICIES AND ESTIMATES...
and more..
THX
A revival of U.S. issuance of mortgage bonds not guaranteed by the government is being stymied by the Federal Reserve’s debate over when to reduce record stimulus, according to panelists at Information Management Network’s ABS East conference.
http://www.bloomberg.com/news/2013-10-07/mortgage-bond-revival-stymied-as-fed-maps-out-stimulus-pullback.html
AIG Mortgage Insurer Takes on FHA in Government Shutdown
http://www.bloomberg.com/news/2013-10-07/aig-mortgage-insurer-takes-on-fha-in-government-shutdown.html
FnF are irreplaceable. "They are the system". Reforms/corrections have been made by FHFA ??to let them keep doing what they do well.
Solid like always....
http://www.fanniemae.com/syndicated/documents/mbs/mbspros/MF_DMBS_September_1_2013.pdf