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Hope you're right.
Set limit sell orders for $30+ to stop any NSS and lets squeeze shorts as much as possible.
No sir, just trying to be realistic. Having tires shipped to the store is a long stretch from a major JV and while positive, I believe that is already priced into the stock. One step at a time. Hearing today is crucial for move forward.
GL
Love the optimism. Resistance levels are thin and wouldn't take too much of a push.
Well, just sold some of my other positions to get more SHLDQ. Not as many as some of you whales, but should be a nice gain for me if this does pop as we're expecting.
GLTA
Crapo's outline.
https://www.banking.senate.gov/imo/media/doc/Housing%20Reform%20Outline.pdf
Housing Reform Outline
Guarantors
a. Guarantors will be private companies.
b. The primary business of guarantors will be to guarantee the timely repayment of
principal and interest to investors of eligible mortgages that are securitized
through a securitization platform operated by Ginnie Mae.
i. Guarantors will be permitted to (i) provide guarantees on eligible
mortgages that are securitized by primary market participants or issuers;
and (ii) buy eligible mortgages from the primary market through a cash
window and guarantee and securitize them through a securitization
platform operated by Ginnie Mae.
ii. Guarantors will be able to hold mortgages in portfolio only to the extent
that such portfolio holdings are incidental to the business of securitizing
and guaranteeing mortgage backed securities.
c. No guarantor will be able to guarantee more than [XX] percent of all outstanding
guaranteed eligible mortgages.
d. Fannie Mae and Freddie Mac will be private guarantors.
i. The multifamily businesses of Fannie Mae and Freddie Mac will be sold
and operated as independent guarantors.
e. Insured depository institutions will not be permitted to be guarantors.
f. Guarantors will not be permitted to offer volume-based discounts on the
guarantee fee or other terms.
g. Guarantors will be required to maintain (i) a minimum statutorily required capital
ratio of [XX] percent to total assets (including asset equivalents of any offbalance
sheet exposures); and (ii) additional capital requirements established by
the Federal Housing Finance Agency (FHFA).
i. In addition, FHFA will be permitted to require guarantors to engage in
approved credit risk transfers (CRT). FHFA may take the quantity and
quality of CRT into account when setting capital requirements for a
guarantor, but every guarantor will be required to remain above the
statutory minimum leverage ratio.
h. Credit box: In order to qualify as an “eligible mortgage” (i.e., a mortgage that a
guarantor can buy, securitize, and/or guarantee) (i) the borrower must provide a
down payment of at least [XX] percent; (ii) the outstanding principal balance will
not be able to exceed 80 percent of the value of the property unless the borrower
has private mortgage insurance as currently required by GSEs; (iii) the loan will
be required to meet requirements that are substantially similar (as determined by
FHFA by regulation) to the Qualified Mortgage requirements; and (iv) the value
of the mortgage will not be permitted to exceed loan limits set by FHFA.
Page 2 of 3
Regulation of Guarantors
a. FHFA’s structure will be changed so that it is run by a bi-partisan board of
directors instead of a single Director.
b. FHFA will charter, regulate, and supervise guarantors.
c. FHFA will be required to establish prudential standards that include (i) leverage
requirements in addition to statutorily required leverage requirements; (ii) riskbased
capital requirements (if appropriate); (iii) liquidity requirements; (iv)
overall risk management requirements; (v) resolution plan requirements; (vi)
concentration limits; and (vii) stress tests.
d. FHFA will be permitted to establish standards of approval for CRT structures.
Guarantors may only use CRT structures approved by FHFA.
e. FHFA will maintain existing resolution authorities to resolve an insolvent
guarantor. Guarantors will be allowed to fail.
f. FHFA will have authority to require a guarantor to divest certain assets or
operations if (i) FHFA determines that a guarantor guarantees more than [XX]
percent of all outstanding guaranteed mortgages; or (ii) the guarantor constitutes a
grave threat to the financial safety, soundness, or stability of the U.S. financial
system.
g. FHFA will be required to approve guarantors’ pricing.
Ginnie Mae
a. Ginnie Mae will guarantee timely repayment of principal and interest on
securities that receive credit enhancement from guarantors that are approved and
regulated by FHFA.
b. Ginnie Mae will operate a securitization platform.
c. Ginnie Mae will provide a catastrophic government guarantee at the security-level
to cover tail-end risk, backed by the full-faith and credit of the United States.
d. Ginnie Mae will operate a mortgage insurance fund (MIF) with a reserve ratio of
[XX] percent of total amount of outstanding securities guaranteed by Ginnie Mae.
The MIF will be funded through insurance premiums paid by guarantors.
e. If the MIF is depleted and draws on Treasury, guarantors would be charged higher
insurance premiums to pay back taxpayers and rebuild the MIF reserves to the
required reserve ratio.
Transition
a. No guarantor will be permitted to have more than [XX] percent of all outstanding
guaranteed eligible mortgages within [XX] years after enactment of the
legislation.
b. All guarantors will be required to be fully capitalized within [XX] years after
enactment of the legislation.
c. Technology and infrastructure being developed as part of the Common
Securitization Platform may be sold or transferred to Ginnie Mae.
d. FHFA, with the consent of Treasury, will have the authority to postpone deadlines
if FHFA submits a report to Congress, and the Chair of FHFA and the Secretary
of Treasury both agree and testify before Congress as to why a delay is necessary.
Page 3 of 3
Affordable Housing
a. Current affordable housing goals and duty-to-serve requirements will be replaced
with a new Market Access Fund, which will provide grants, loans, and credit
enhancement to address the homeownership and rental housing needs in
underserved and low-income communities.
b. The Housing Trust Fund, Capital Magnet Fund, and Market Access Fund will
collectively be funded through an annual assessment of 10.0 basis points of the
total annual loan volume guaranteed by each guarantor.
Not necessarily. Probably short covering at the moment. Hasn't broken first resistance level yet. If it breaks the level at $1.30 then there's definitely a leak.
First resistance level is at $.60 and then blue sky to $.80.
Up 5% on low volume. Holding pattern waiting for court news. Could get vertical in a hurry.
I expect the formality to take less than 30 mins.
Where has there been any official or unofficial rumors of Sears and Amazon linking up? If it's just a wild imagination, people should calm down and realize the world doesn't revolve around their portfolios.
They are just going through the motions. It's standard practice for them to get involved in these cases, otherwise they'd be irrelevant.
I keep seeing 2 different dates for the court hearing. Today and Monday. Which is it?
Delays on top of delays.
I think it was an honest mistake. I thought the same thing at first until I looked further. Almost had a heart attack, lol.
Very interesting. On this form, the Q is removed from the ticker. Preparation for exiting bankruptcy?????????
https://www.streetinsider.com/SEC+Filings/Form+4+SEARS+HOLDINGS+CORP+For%3A+Jan+28+Filed+by%3A+ESL+INVESTMENTS%2C+INC./15059989.html
Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) <——————RIGHT THERE PAL!!No, look down
(Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 8. Price of Derivative Security
(Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D)Right there pal ;) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Second Lien Term Loan (8) 1/28/2019 S $5491573.33 3/20/2018 7/20/2020 Common Stock, par value $0.01 per share 44090532 (9) (10) $220452658.95 (9) I See Footnotes (1) (2) (3) (4) (11)
Second Lien Term Loan (8) 1/28/2019 S $2508426.67 3/20/2018
Wrong block. It's direct ownership.
So why not buy now? Good time to get in IMO. I'm getting some more today. Just got paid :)
All the times I heard “BOOM” on this board over the years, this description is the most accurate....
I just picked up 3500 shares. What are any reasons judge would deny?
Oh my gosh, slightly inappropriate lol
About to form a triple bottom at 2.60?
You gotta expect fake news to throw a monkey wrench in any progress. It might have some effect in the short term, but we’ll win the war.
All of a sudden congress is interested? This is only because they know Trump is in charge of housing now and their puppet is gone. These obstructionists are so predictable it’s comical. How anyone votes for them is beyond me.
Well, they might sell some shares for the recap over time. 6-18 mos was ottings timeframe, so we know it won't happen all at once. But obviously this is only speculation which is all we can do until the plan is manifested.
Yes, it all depends on the warrants and SPS. If we’re not diluted, I think we will be golden. The dilution is the main unknown factor here. My guess is we don’t get fully diluted, but will be partially. However, that could be offset with future buybacks. So much uncertainty here but finally headed in the direction of resolution.
If you watch the documentary “Obama’s America”, you can begin to understand what happened to the GSEs when you understand his vision for America. It’s horrifying actually.
I am also hoping for divis to be reinstated and I don’t see why they wouldn’t be. I’m guessing they’d be anywhere from 25-50c a share which would really beef up my shares quickly on a DRIP. After a few years of that, I’d never have to work again.
Thanks for your clarifications.
I agree in principle, but not in actuality.
What you say is technically correct but the market has always disliked uncertainty. Otting’s words do signal the end of the NWS however, nobody knows exactly what the plan is so it isn’t factored in the SP.
Also, don’t forget we’re still on the OTC which means little to no institutional buying. Once mutual funds are able to purchase shares, it’s game over. We see a gain of 500% or more.
Otting said that capital will be going from $6B to $150-200B. That's a recap.
There can be no recap while the NWS is in place.
Therefore, the NWS is effectively over already.
Face it: the "commons go to $5 when the administration announces an end to the NWS" prediction didn't happen, because that announcement came yesterday.
And with that ridiculous statement you lose all credibility.
Rolled, instant, or steel cut? LOL
There is no "they". Everyone trades individually according to their own financial plans. There's no mass collusion when it comes to trading. MMs don't conspire with shorts, longs, or anyone in between.
Anyone shorting this now has balls of steel.
I put as much as I could into it back then, sold what I needed to to get back my initial investment and now riding on 30,000 free shares. I could have made a lot more if I didn’t waste money buying some garbage stocks. But hindsight is 20/20. If we could predict the market that easily we’d all be millionaires
Next NWS payment will not be made and officially ended. Change My Mind
“But I do think over the next six to 18 months, we will solve that issue,” he added. “And I can assure you that I’m not here to just sit around and enjoy the fruits of being the director. I’m here to kind of move that path forward. And then when Mark is confirmed in his role, he can kind of come in and just continue down the path.”
Abby Normal
Yea, the case of “Abby Someone vs. US Gov” LOLOLOL
Why? That's extremely risky. GLTY