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I'll take my compensation through share price appreciation.
Sticky'd
Did I just hear a decision by the 6th circuit by end of the year and to expect the Perry case to go to the Supreme Court?
FnF discussion now.
Fairholme is holding a conference call 6/29. A day before the NWS is scheduled to happen.
http://www.businesswire.com/news/home/20170616005505/en/
Or it could have been oversold and buyers are finally coming back.
Back above $2.50
50 billion but #whoscounting?
The only one I would anticipate being cancelled is the last one before the capital buffer goes to zero.
What happened to common being cancelled?
Unless you have direct involvement in it, you're just as clueless.
You could watch it but I searched the text and didn't see anything gse related.
The consumer always pays one way or another. Look at FHA. Their rates are generally lower than conventional loans, but the borrower is paying for it with mortgage insurance for the life of the loan in most cases and a 1.75% funding fee that is either financed or paid at closing.
There is no funding fee for FnF, and mortgage insurance only remains until 20% equity is reached.
I could see a funding fee added to conventional loans or extended mortgage insurance in the future if FnF have to pay for an explicit guarantee.
Profits are still their. Increase g-fee to cover any cost of guarantee. The rest is profit.
I got the feeling that if there was going to be an explicit guarantee that it would need to be paid for in some fashion. I'd expect the g-fee to increase to cover the cost of the explicit guarantee.
Looks like Mel is going to have to dance along.
Mel will "dance alone" if he is forced to. Doesn't really matter what Mnuchin says imho.
I think you mean Thursday.
This goes back to his "something has changed" comment. It's a positive sign if he's angry.
Mnuchin scheduled for next week.
https://www.banking.senate.gov/public/index.cfm/hearings?ID=18B0F99C-2D7C-425D-875F-A0B40DB54207
Sure sounds like he did at the 39:50 mark. He was saved by the clock.
Mel told them to ask Mnuchin about capital buffer. That means they discussed it.
Mnuchin is testifying next Thursday. I'm sure he'll be asked.
You as well. I agree, this investment holds risk, but with great risk comes great reward. Any serious investor in this company knows the risk. Some have a different definition. The perceived risk is high, but for me, the actual risk is low. You can't eliminate shareholders just because you don't like them, and that is what some people in Washington are trying to do.
We're all speculators. Capital buffer has to be made before any dividend are paid. That can only happen though retained earnings or a court ruling. More than likely earnings. If excess capital is returned, it will go right to the buffer. All speculation though.
If that's the goal, why not commons?
They are also highly likely not to pay a dividend for the foreseeable future.
I was paraphrasing but you're right. I do think he was trying to point out that gse reform is independent of housing reform.
I liked how he said GSE reform was his job and housing finance reform was their job.
Thanks.
Watt says the committee will hear from Mnuchin next week around the 39 min mark when they were asking about the capital buffer. Anyone know when?
https://www.c-span.org/video/?428337-1/mel-watt-testifies-housing-finance-policy
You don't count your credit card limit as capitol, so why should FHFA consider the TSY line as such? Mel made Corker look like a fool.
They asked Watt for legal analysis on why he thought he alone could stop it. Should be an interesting read once he delivers it.
In the words of Ric Flair....Woooooooo
I recall a time where Mel said that the TSY needed to initiate the talks and that it wasn't up to him to start the conversation. Big change of thinking.
It did when Mnuchin said he never said he was for recap release. There's been other instances where it dropped under similar comments.
What I find interesting about today's comments is that Watt said a reduced dividend wouldn't be a recap/release and the share price didn't tank.