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That was sweet. Exposing the greedy bastards for what they are. Defying the court as if they are above the law.
Yes. I have fidelity also. I can not risk this stock gapping on an open and all of my shares are sold. It would be a handsome profit but I believe as most of us believe that there is the potential for so much more.
Go FnF!
Can you imagine the sick feeling of that happening?
House Passes Three Housing Bills
By Seth Welborn on Sep 11, 2019
?The U.S. House of Representatives passed five bills offered by House Financial Services Committee Members on Tuesday, three of which are directly housing related.
The bills included the Homebuyer Assistance Act of 2019 (H.R. 2852), which seeks to make it easier for homebuyers to buy a home with a Federal Housing Administration (FHA) mortgage by alleviating the current shortage of certified appraisers. This bill was introduced by Rep. Brad Sherman.
The House also passed two bills related to multifamily and public housing, the Strategy and Investment in Rural Housing Preservation Act of 2019 and the Safe Housing for Families Act of 2019. The Rural Housing Preservation Act would permanently authorize the U.S. Department of Agriculture’s (USDA) Multifamily Housing Preservation and Revitalization (MPR) Program and further authorizes $1 billion to carry out the program. It also requires USDA to come up with a plan for preservation of rural multifamily housing backed by USDA loans and establishes an advisory committee to advise USDA in implementing this plan.
The Safe Housing for Families Act is a bill that protects residents of public housing from carbon monoxide poisoning by authorizing over $300 million over three years to fund the installation and maintenance of carbon monoxide detectors in Department of Housing and Urban Development-subsidized housing units that have combustion-fueled appliances or a ventilation system that connects them to such units.
A non-housing related bill passed on Tuesday titled the Ensuring Diverse Leadership Act of 2019. This bill would require the Federal Reserve Bank to interview at least one individual reflective of gender diversity and one reflective of racial or ethnic diversity in making the appointment of a regional bank president. This bill was introduced by Rep. Joyce Beatty, Chairwoman of the Subcommittee on Diversity and Inclusion.
Another non-housing bill was the Bank Service Company Examination Act. The bill’s goal isl to amend the Bank Service Company Act by enhancing the coordination of state banking agencies with federal banking agencies in regulating and examining the activities of bank service companies. It also allows for the sharing of information related to examinations and regulations between federal and state agencies related to banks’ technology service providers.
https://themreport.com/daily-dose/09-11-2019/house-passes-3-housing-bills/amp
I just know that if I try timing one of these big moves down I will be chasing and lose shares
If so the sheep will buy twice. As if they were different/separate events
$3.61. Almost to $40.
Yes $40. I would have to staff the new digs.
Well now that was random. It is not the BiPolar Express!
Go FnF!
I think some good news must have leaked $3.54
Nice $3.50
Roll cages needed for this crazy clown carnival ride!
Sounds good but did you think we would be sitting here after a positive en banc ruling?
I bet we repeat the en banc response but from a broader perspective we will see higher lows going forward. Which is good.
Go FnF!
Maybe the weak hands are out. Patience pays . "Patience is power. With time and patience, the mulberry leaf becomes a silk gown."
I don't know the original author but it is a great fortune cookie!
Go FnF!
Thanks. She tried at least 5 times.
I am getting confused. What call with Mbuchin?
My strategy of getting pissed and buying more has led to a significant number of shares of fnma. Many reasons to get pissed along the way.
Go FnF!
Investors Will Have Difficulty Making Money in Fannie Mae (FNMA) & Freddie Mac (FMCC) - Odeon
September 11, 2019 9:02 AM
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Odeon analyst, Dick Bove, handicapped what to expect from the return of Fannie Mae (OTC: FNMA) and Freddie Mac (OTC ...
Subscription only
https://www.streetinsider.com/dr/news.php?id=15904662&gfv=1
Lots of folks said that they would sell at $3. Now that the elation is over they still can. FnF are not for the timid.
Go FnF!
Hopefully not that long. I do want to live to see it!
I don't get it. Is this tomorrow?
If we fall below $3 before the conference call I will dump another 5k into fnma. I really don't want to buy more but below $3 would piss me off and be a gift.
Go FnF!
Oh c'mon that would reduce posts by 25%
It looks like the courts are still our best hope
After reading the last few posts a little light turned on above my head...finally.
These guys are trying to follow Trump's orders but still help out their buddies. It is like they are saying (we will release them but only on a leash and with a nanny and training wheels. Of course they will have to pay for these things. They really are not a good deal for investors but hell, we released them like the boss told us to do.)
Well....good morning to you too. I think I will go hurl up my breakfast now. At the same time, all of that went right over my head yesterday. Thank you. It is best to be informed.
go fnf blah
Action it is obvious that you are enjoying your new subscription
SM stated that they would try this month. He did not confirm it.
Go FnF!
He will still be in character. We may as well play today's video again. But I will try to watch. I would love to be wrong.
He said he would invest in them after being stripped of their earning power. What a joker. I think to get this done in the short time that they have FnF will hardly change from their current size and business structure. That Mnooch is a natural politician playing it up. Saying what he knows they want to hear and then making very little change is what is doing.
Go FnF!
I forgot who but there was a senator that encouraged Calabria I think to write the bill and bring it to the committee. All three SM MC and BC looked nonplussed. They do not want to fool with congress. They do not have time to waste. It was pretty funny.
Go FnF!
I don't have a clue about an appeal timeline. I do know that Trump has a short timeline to complete this process. He wants a feather in his cap for saving housing in America before the election. I also know that the en banc panel sided with plaintiffs very strongly. Mnuchin does not have time to appeal to the supreme court. That doesn't even matter in my opinion because the supreme court in my opinion will refuse to hear the case after such a harsh rebuke. It is just a bluff by Mnooch.
Go FnF!
Mnuchin: Supreme Court may be next in Fannie Mae and Freddie Mac case
2 Hours Ago
CNBC's Diana Olick reports from Capitol Hill where Treasury Secretary Steven Mnuchin told her he's exploring a number of options to push forward with privatizing Fannie Mae and Freddie Mac.
https://www.cnbc.com/video/2019/09/10/mnuchin-supreme-court-may-be-next-in-fannie-mae-and-freddie-mac-case.html
Lawmakers weigh the future of Fannie Mae and Freddie Mac
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Yahoo Finance VideoSeptember 10, 2019, 3:49 PM UTC
The Senate Banking Committee holds hearings on housing reform. Yahoo Finance's Julie Hyman, Adam Shapiro, Jessica Smith, Rick Newman, and Jeff Mills - Bryn Mawr Trust Wealth Management Chief Investment Officer, discuss
https://finance.yahoo.com/amphtml/video/lawmaker-weigh-future-fannie-mae-154935212.html
Trump faces tough path to Fannie Mae, Freddie Mac overhaul
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GETTY IMAGES
BY SYLVAN LANETWEET SHARE EMAIL
President Trump's quest to revamp the federal housing finance system faces long odds, with Congress tied up with a slew of must-pass bills ahead of 2020 and the two parties sharply divided over how to address the issue.
The administration's first test comes Tuesday, when top officials will appear before the Senate to explain and defend their plan to end the federal government's control over two pillars of the U.S. housing finance system.
Lawmakers have struggled for more than a decade to release the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, better known as Fannie Mae and Freddie Mac, from Washington's control.
The two government-sponsored enterprises purchase mortgages from banks, package them into bonds and sell those bonds to help fund home loans for buyers in areas underserved by private firms.
Industry critics of the system say it distorts lending markets and encourages risky mortgage loans with U.S. taxpayers as the backstop. Trump-appointed regulators have laid out a path to privatize Fannie and Freddie and have promised to act even if Congress doesn't.
Even so, much of the administration's plan depends on lawmakers reaching agreements on some of the stickiest points of reforming a housing finance system forged during the financial crisis and frozen in amber since.
While there is wide bipartisan agreement that federal housing policy is in dire need of reform, Congress lacks consensus with the 2020 presidential election approaching.
"It is wildly optimistic to think that this Congress will act on any of the suggestions directed toward it," wrote Thomas Wade, director of financial services policy at the American Action Forum, a right-leaning think tank.
"These detailed and numerous recommendations represent a tall order for a divided Congress, particularly in the run-up to an election," Wade added.
The Trump administration's push to complete what is often called the unfinished business of the 2007 to 2008 financial crisis comes amid a frantic time for Washington and the nation's politics at large.
https://thehill.com/policy/finance/460615-trump-faces-tough-path-to-fannie-mae-freddie-mac-overhaul?amp
Mnuchin considers appealing Fannie Mae, Freddie Mac investor lawsuit to the Supreme Court
The government is weighing whether a recent court win for mortgage giants Fannie Mae and Freddie Mac should be appealed to the Supreme Court, Treasury Secretary Steven Mnuchin tells CNBC.
"We're going to consider appealing it to the Supreme Court," Mnuchin says.
A federal appeals court last week overturned a prior ruling that had favored the government's collection of the two companies' profits.
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The government is weighing whether a recent court win for mortgage giants Fannie Mae and Freddie Mac should be appealed to the Supreme Court, Treasury Secretary Steven Mnuchin told CNBC on Tuesday.
"We're looking at it carefully and we're considering what to do about it," Mnuchin said of the decision last week from a federal appeals court, which overturned a prior ruling that had favored the government's continuing collection of the two companies' profits.
The panel of federal judges in New Orleans ruled that the mortgage lenders can pursue claims that the Treasury's profit-sweeping is illegal, multiple outlets reported. The judges also found that the structure of the Federal Housing Finance Agency, which regulates Fannie and Freddie, is unconstitutional, according to reports.
"We're going to consider appealing it to the Supreme Court," added Mnuchin, who spoke to CNBC ahead of his testimony before the Senate Banking Committee about housing finance reform. Mnuchin was joined in that hearing by Housing and Urban Development Secretary Ben Carson and FHFA Director Mark Calabria.
"There's two parts of it. One is obviously the cash-flow sweep, and that's what the Treasury is looking at," Mnuchin said.
The Treasury Department did not immediately respond to CNBC's request for comment on Mnuchin's remarks.
In 2008, as the housing market collapsed, Fannie Mae and Freddie Mac were placed in a federal conservatorship and received billions of dollars in bailout funds. After eventually returning to profit-making status, the companies were forced to pay billions of dollars back to the Treasury.
The New York Times reported in 2017 that the firms received more than $187 billion from U.S. taxpayers but that the companies have paid back nearly $271 billion to the government since then.
Treasury's new plan to return Fannie and Freddie to private control landed with a thud Friday. The plan outlined a litany of recommended steps to overhaul the companies but was criticized as vague or incomplete by investors and analysts.
Preferred shares of the companies tumbled after that plan was unveiled.
https://www.cnbc.com/amp/2019/09/10/fannie-mae-freddie-mac-win-could-be-appealed-to-supreme-court-mnuchin.html
I missed about 15 min. Did they mention the en banc?
Well that was fin. It sounds like Manooch still wants to keep the money because tax payers could have invested in the stock market and earned a better return on their investment. Doesn't that sound like FnF shareholder reasoning about the overage that treas stole?
Carson has the mic. I am so sleepy
Mnooch is doing the old soft shoe. And it is the same old song and dance