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I still work at that bank and one of his inner staff is currently an EVP at FNMA right now.
In the new politico article Lorraine just released on twitter I find it interesting the wording from the FHFA spokesman. "a payment will be made as scheduled" this wording leads me to believe it will be an adjusted amount in some way.
now that is interesting!!
what chunks and why is pps down?
The letter to Watt, who is director of the Federal Housing Finance Agency, was signed by Republicans Bob Corker of Tennessee and Thom Tillis of North Carolina, as well as Democrats Mark Warner of Virginia, Heidi Heitkamp of North Dakota and Jon Tester of Montana
https://www.bloomberg.com/news/articles/2017-03-29/senators-warn-fhfa-against-suspending-fannie-freddie-dividends
"An FHFA spokeswoman said the companies would make their expected dividend payments of about $10 billion on Friday."
I read that a spokesman from FHFA say the NWS will happen as planned on friday
how did they announce the payment before? From what I saw they had the filing that said the "scheduled payment on March 31 2017"
The nws will end just not in 2 freaking days. Guys don't get your hopes up on something that is not going to happen
I think Trump stops the NWS next week for the sole purpose of watching Obama care implode. He said today he was going to wait for its implosion before trying to pass another healthcare bill. There is a reason he hasnt mentioned the NWS going to ACA......if he publically acknowledged it was true and he diverted the funds it would look as though he ushered ACA to fail vs having it fail naturally.
This is good news IMO....i think he didnt have any intention of the vote to pass
I bought at 50 cents as well but made a biiiig mistake and bought a shit ton more when it hit 6.50 for that one freaking day. for the last 5 years ive been waiting around. then I decided to load up once trump got elected. Im in for over 150k of my own money (50k loss since that court decision)
Granted I hate seeing that I could of bought more shares at current or future prices but I still see little evidence my common shares will be worthless.
I mean as a shareholder I am assuming the NWS will happen....as I think most shareholders do bc there has been nothing provided for us to think otherwise.
I mean I totally understand why it would go down but I just think the market for the stock wouldnt let it go that low. I wish i had a crystal ball and didnt believe the hype of this stock bc buying at 1.50 would be nice but im in at $4 and 9$ on my preferred.
at 1.5 I would have to lower my PPS and buy another 10k or more.
1.20-1.50 ??? absolutely not. Ill buy buy buy at that price. The PPS may dip down after the NWS is taken but itll even out back around the price we are currently at. There may be a reaction but the current PPS is assuming it is taken. For the PPS to go below pre-trump/mnuchin would be crazy.
The only reason the stock price is going down is bc traders don't want their money tied up for the unknown future. Also selling and buying back at a lower PPS isnt a bad thing should a big announcement happen. Now if you are thinking you will lose your investment think again. There are few scenarios where our pro capitalist trump and mnuchin will wipe out common shareholder especially in a company that is highly profitable.
Just think of it this way....buying a stock worth $100 at 2, 3 or 4 dollars a share...who gives a chit. just wait till something happens and dont stress about these small swings. If for some reason you lose all your money just chalk it up to life and move on.
60000 signatures and we can ask Trump directly to suspend the NWS.
i like that :)
ya but he sold 190k of it lol
Mr Painter " we need transparency for FNMA and FMCC for now and when they are removed from conservatorship"
are you saying more buy orders after his congressional testimony?
if most people know its going to happen then why would there be a 40% hit on the share price? sort of contradicts itself. I think you sold and hope to buy back at a 40% discount???
going Loooong on FNMA just sucks. What he is saying with "their successors" is not that the govt is going to wind down FNMA and sponsor 2 diff companies to securitize mortgages. He is saying they are going to stop the govt from backing any company and open up the market for other companies to do what FNMA does. This will mean any company FNMA or others (successors) in that field will be on their own come time to cover their losses. they will either liquidate assets or go BK.
FNMA market share will always be there for mid size banks to sell mortgages to because no matter what the FDIC 90% liquidity will always be there. There is really nothing keeping WF and BofA from doing what FNMA does besides the risk because they have done it before and honestly it isnt that complicated.
having said that if they do release from any govt sponsorship we could see rates go up
http://www.glenbradford.com/wp-content/uploads/2017/03/15-00708-0064.pdf
http://www.glenbradford.com/wp-content/uploads/2017/03/15-00047-0101.pdf
Looks like a couple of court cases getting ready to decide in the coming months. The OP seemed to show a judge went against the Brown decision and FHFA wanted her to follow his decision
"FHFA and Treasury alerted Judge Reade yesterday to Judge Chang’s decision dismissing the Roberts Plaintiffs’ complaint in Chicago. FHFA and Treasury want Judge Reade to follow Judge Chang’s lead. In a response delivered to Judge Reade today, the Saxton Plaintiffs tell her that Judge Chang’s is nothing more than one more case wrongly decided and directs Judge Reade’s attention back to Judge Brown’s dissent in Perry v. Mnuchin.
Judge Ready also entered an order today advising the parties that tomorrow’s hearing on FHFA and Treasury’s motions to dismiss will be held in Courtroom 2 in Cedar Rapids.
Copies of the three relevant documents are attached to this e-mail message.15-00047-0101 15-00047-0102 15-00047-0103
Judge Sleet placed his stamp of approval this morning on the parties’ agreement to complete briefing on renewed motions to dismiss by July 17, and a copy the stipulation memorializing that agreement is attached to this e-mail message.15-00708-0064"
You would think they would say something by now...what motive is there to wait to the last hour to reveal? I know they just assembled the group to tackle the GSE reform but those lazy SOBs could take forever and probably dont care either way about the NWS coming.
What is the exact news today? They are saying the release from govt control will is not on the legislative calendar this year. so our only hope is that the NWS is going to end??? that is what I am gathering
yesterday seemed bad news...today all I see is good news. LETS GO FNMA!
"“We don’t want to be in a situation where we have to put tens of billions [of dollars] into these entities or their successors. " "
that doesn't sound too promising
Because under Obama they talked about winding down the gses. Trump all you hear is getting out of govt control. It's funny how alot of guys get on here at the same time and app trash FNMA as the stock all of a sudden falls.
If trump were going to liquidate FNMA he would of said something to that affect by now
buy it!! its like 3 shares post recap and release based on patwils PPS analysis
100% correct lol pisses me off because it is like clockwork. One time though itll keep going up I hope.
Is this rally going to be another pump and dump once the NWS is paid or has it been leaked that it will be suspended.
can you explain this wall? not sure what you mean
not only that but research who mnuchin is and what he has done. He used to work directly with FNMA in the bond market and is for sure going to get that market to expand and grow. I dont know him directly but he was who my boss reported to and the guy is all about shareholders and FNMA
old quote
I was being facetious, they are not goign to liquidate prefereds, commons or FNMA in general. Trump doesnt give a chit about people making money and his donors are big holders or all related stocks. Prefereds are the safer bet I will admit but commons have the largest upside
its a good conspiracy theory that maybe the dems would try and pass through. I havent heard one word about replacing the GSE with anything and if you think Paulson Icahn Brooks or any of the other Trump advisors are pushing for this you have misread the talking points. I own both and if common gets wiped out and preferreds remain ill be ok. Other way around im retired
i think they wipe out the preferreds first, those are the biggest drain. Sell 1b shares of warrants at 200/share....recap and released.
for what purpose do they need to replace the shares? all they need to do is get rid of the warrants and NWS and they will be swimming in money.