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Just did again. Everyone needs to do this, not just shareholders. If you pay taxes or own a home or ever wish to own a home this is a must!!
http://www.contactingthecongress.org/
Great site. I've been sending messages to my reps every week for over a month now.
http://www.contactingthecongress.org/
I also tweet boneheads like Barney Frank and John McCain every day to the point of being a stalker. Any rep out of my area still has a vote so anyone with a twitter account is a target too.
This is how things get done not by pissing and moaning on chat boards.
$fnma.
Check daily short report. Today's mmm will continue to cost them biggly.
Perhaps if more people complained to their representatives in government even 1/2 as much as they do on Ihub that may not be the case.
Well I'm pretty sure that it can't be forced on the private sector for starters.
what suitors would be encouraged to want to solicit this considering there is no guide to how it will operate?
Who is willing to make a bid when the gov seems to just make up the rules without warning as it suits their interest?
This is grand theft on a grand scale
Oh the desperation of those short. They have had 6 weeks to come to grips and yet still we see their kicking and screaming and shameless attempts to try and set up a close below .90
Motherless children have a harder time.....so sad.
Quite simply...it's grand theft larceny and a clear violation of the 5th amendment. The media and the pundits are pusswah that lick the boots of the gov and their corporate sponsors.
Keep drinking the pussification juice aka tap water. All that fluoride is making sheeple real stupid.
These mms are treating her like a pinky. They will get spanked here again soon.
They want to give the impression of profit taking.
Reality check: company profits are booming and f and f are healthy and running hard on their own. The book value for shares is way way way above this pps. The better f and f do the harder it gets for the gov to keep them in C -ship. When the hammer drops this goes to book value times 3.6 which puts us around just > $50/share
Profit taking? Lunch money!
If the government is Hell Bent on stealing money from F and F the only responsible thing the CEOs of these companies can do is hold back the release of the DTAs until the GD sheeple of this nation can get a whiff of the deal they have been sold. Perhaps at some point homeowners, taxpayers, and shareholders will pick up a phone and drop a dime on your reps to let them know how fired they are all going to be.
If I were the CEO of either, I would be on Bloomberg news every day pandering for this. These guys gotta take the gloves off at some point. This Shite is getting real old.
Go fnma!
No. They are essentially using tax payer money at their own personal casino. They are charging exorbitant usury interest to F and F only to take a cut of profits for the treasury to misappropriate. All the while the tax payer "bailout" or rather "buy in" is being put in jeopardy by these scum politicians.
So far the list of charges are: (please feel free to add)
1. misappropriation of tax payer dollars
2. Hijacked 2 public companies
3. Defrauding of the taxpayers
4.
It manipulation. Look at the battle over 100ths of a penny to keep it under .90$
We have seen this a lot lately. Mostly at EOD to keep it from breaking key resistance. And here we go again. So predictable these clowns. Volume should crush this effort.
He will be pooping on the sidewalk like a dog along with a lot of other Americans if F and F are privatized. Good luck getting an affordable interest rate on a home if you can even get a loan.
To be short here is treasonous and downright unAmerican. Every taxpayer, homeowner and shareholder has a vested interest in seeing F and F returned to the shareholders and to quote another poster, "don't fix what ain't broke".
http://www.bloomberg.com/news/2013-04-02/fannie-freddie-don-t-deserve-capital-punishment.html
This article from April should be re-posted and sent to all your representatives.
Exactly! At least one journalist got it right. These dirty fhfa bastards are charging "usurious" rates of interest and at the same time "not" returning any equity to the taxpayers.
"So far, the government’s approach has been highly inequitable. It has encouraged the banks to pay back their bailout money, and most have done so. At the same time, the FHFA is forcing Fannie Mae and Freddie Mac to pay usurious rates, and plans to ratchet up the payments sharply from 2013. Instead of using their profits to rebuild their capital and prepare for the next housing downturn, Fannie Mae and Freddie Mac will send all the money back to the Treasury, without paying down their debt. With a conservator like the FHFA, Fannie Mae and Freddie Mac will eventually need an undertaker."
Good grief people. Instead of waiting around for the hammer to drop you should be contacting your representatives.
I like how you say, "privatization by the US government".
Isn't that an oxymoron? There is only one way to do that, SELL their position in the preferred shares. They have already used this beyond what the taxpayer bailout was to be used for. The treasury is playing roulette with taxpayers money. Refusing to get the taxpayers principle loan back out while looking at a very good opportunity to do so is irresponsible at best and very likely a highly illegal misappropriation of taxpayer dollars and a violation of the 5th amendment by illegally seizing a public company without just compensation for common shareholders and numerous classes of preferred shareholders. Who knows if this recovery period is going to last? This is a bigger deal than the media is portraying it to be. This is pure BS. 5 yrs and what do we get? A recovered and profitable company replete with added bonus of court rewarded damages on one hand and on the other a government that has no plan, no suitors, and a self serving sense of entitlement over illegally seized assets. If this Shiite were have to happened 30 years ago or even 20 years ago this wouldn't even be a discussion because there were a lot less sheeple in this country. This is just pure bs.
Which way is the herd headed?
Here's a thought. Anyone in the OTC sees this manipulation on a daily basis in every stock. But FNMA is no ordinary OTC stock. Question: with all the eyes of the media on FNMA not one news agency cares to comment on the very peculiar trading in FNMA and FMCC for the last 3-4 weeks? Odd that they write story after story covering all the other minutia but never comment on what is so obvious and sitting right under everyone's nose every day.
Oh right! Must be the "don't bite the criminal hand that feeds you rule".
And stop putting in stop loss orders so close to the damn bid. If you want to just give them you're money you can skip all the gyrations and just write them a check directly.
Oh yeah. Sack up. That helps too.
And this costs them nothing. They cover these shares by day send.
No one else can do this, no one. But it's a fair market right? It's all about supply and demand right?
Everyone knows as we have been witness to this for 5 weeks now. It's manipulation pure and simple.
Big buy side volume would take care of that but instead all we get is more shares thrown out at low volume by mms to entice selling. As long as there is a glimmer of hope for those short here they will pull every stop out to get back shares from weak hands.
"For example, Watt says that there is virtual unanimity on "this" getting back into the private sector. But what is "this" that they are talking about?
It seems that in the longing for riches the imagination of many is that getting "this" back into private sector means wealth to common stock shareholders. "
Yes, I agree that the "this" he is referring to is ambiguous. But IMO considering the Dumbocratic ideology of providing entitlements to all like a benevolent grandfather it would be hard to believe that the Whitehouse or House Dems would be unanimous about withdrawing all government interest in the GSEs from the position of providing a fail safe for affordable mortgages. Perhaps this is true but it would be a far cry from normal for a party that fights to make things like mortgages available to middle class and under Americans. I'm sure they do not want to return to a post depression "Great Gatsby" mortgage environment. How would that be received by all the voters they pandered to get here? If they want to retain a seat for Hillary or Joe or whomever that is not the popular prescription.
The "this" needs to be further explained. The interviewer missed a crucial opportunity to ask for clarification as a follow up.
What does seem more plausible is the WH and Congress's fear that staying vested in F and F and allowing the treasury to indefinitely hold not just common shareholders hostage but all preferred classes aside from what is held by the Gov. while at the same time the public can witness the recovery and profitability of the two mortgage giants. This already looks bad and the idea of allowing the gov to take and misappropriate dividends while not recouping the principle of the tax payers will look much worse if what is occurring now stops short and we reverse back into recession or perhaps deflation as we are seeing in many places. To lose that opportunity to get tax payers principe back will not be received well at all.
These are the facts as I see them. Anyone else care to elaborate?
Blue puts a good deal of time and research into providing dd behind the picks he suggests. He is also a value investor that holds long.
For you to put yourself in that category is laughable when you consider the links you post offer little more than the negative conjecture that you spew.
Ex: Blue consistently posts current company news, reports, earnings, pertinent political events, etc. and keeps a running log of all.
You tend to post antiquated news articles while repeating a mantra that seeks only to reiterate what we all already know about the c-ship and how we got there.
Good thing the nations home builders, banks, realtors, and tax payers don't live in the past like you do. All of these folks have been steadily rebuilding the economy. Good thing the media needs new news to sell instead of old news. So rather than reiterate your sentiments of 5 years ago they report on the current events. Readers and viewers see the new news and for many their opinions change based on new information and facts. This together changes the sentiment about how the future will play out.
And guess what? The markets all trade on future expectations! No kidding. Right now all the momentum regarding the stability of the recovering housing mkt and the repayment of taxpayer bailouts and record profits and federal court judgements against the banks and the direction that the POTUS appears to be headed with his new appointment speaks to a very positive reversal from previous sentiments.
All that said the momentum is in favor of longs. The reality is a restored version of F and F with a few politically charged caveats thrown in to satisfy some red faced repugnicants.
You and blue are not of the same ilk. Don't kid yourself.
I've already wasted more time that its worth on this rebuttal.
This board has little to zero influence on stocks like FNMA.
Now if it were a non reporting pink sheet company that relies on pumpers from Ihub or if it was the same stinky pink that has a criminal short in it that hires shills to bash at every chance you would have a point. But alas FNMA and its trillion dollar asset book does not need the hubris of Ihub posters to make moves.
Right. Which is why when looking forward you occasionally glance to check your rear and sides but by no means is it an effective way to navigate moving forward.
Folks can be members of any number of trade associations etc. and have success or perhaps just a lot of dues to pay. We don't do that. We operate on the old adage of location, location, location and more often than not the tenants/ brokers find us for that reason. It's different than selling houses.
I hope they do. Because TA only accounts for past trading trends. This stock broke out on news and fundamentals. This stock is poised to break out upward again on more of the same. With every week of a strengthening housing market that passes and more and more people realizing that there was no single scapegoat that was responsible for the failures of the MBSs there is less and less chance of the c ship remaining in tact or any follow through of propositions made based on false notions of blame.
This is not a game of either everything gets dismantled vs. everything goes back to the way it was like many on the short side would like to state in ignorant and self serving fashion. What is almost 100% guaranteed to happen is a new hybrid will emerge yet restore the company in its new form to shareholders.
Wtf is with all the death or glory bs?
Since when does anything in Washington go that way? The whole thing is a big game of compromise that keeps reps and dems with a job. The only thing they go death or glory on is allowing a 3rd party to gain membership to their private club.
I agree. Also you don't have to look too far for some parallels, Dan Marino, John Elway, Tom Brady!!!
Geno Smith? These are all top players that were over looked for a 1st rd bid and they are all qualified.
At this point for FNMA, the FHFA, and the housing recovery more pragmatism and less partisan bs will keep this trend on track. But have no doubt that some tea bagging zealots will complain like the kid who's basketball didn't get used in the pick up game despite his insistence on how "good" it is.
Really? You don't think he is qualified? Or do you just not agree with his methods or the folks that he has historically been aligned with?
Because one is a fundamental issue that your opinion has nothing to do with and the other is ideological and speaks to his politics and not his qualifications.
In any event you won't have to worry as its not your decision to burden yourself with.
Question: when you drive down the road do you steer by looking out your rear window?
Yes. In real estate. Commercial and residential. I have a Florida associate license for RE and one for Certified General Contractor.
My entire extended family is in commercial real estate and development.
I am also in one of the strongest real estate sectors in the country. S Fl.
Are many of you aware that the absurd loan criteria you are referencing was eliminated several years ago? This has already been done. I'm not sure where you can get any loan done for less than 20% down and I'm not sure that you'd have great luck finding them for that little down these days anyway.
In addition to that income verification is a requirement as it should be. It doesn't matter if you have a real job per say but bankers want to know where you are going to be getting them their money none the less.
High loan credit value, payment history, delinquencies, an itemized list of all monthly household expenses, car payments, school loans, credit cards, investments, these guys want to see the full Monty when it comes to getting a loan.
Please, Alaska called and they have a tea bagger that wants her soap box back....
I think you are mis understanding what this means. Refer to my recent post on the topic. This is not about some communal socialist idea that everyone is entitled to home ownership. This is about economics and making the best financial decisions out of a bad situation. It happens that this scenario is good for both the homeowners and the banks. The banks do not want any more REO! The homeowners that have income and a plan would like to stay in their homes.
If the bans were to foreclose they would have over $30k on top of what they already lost in principle and interest payments just to re-sell the home. Oh and as the re sale would likely be either a short sale or best case scenario a sale for current market value they banks would be taking on another 20% plus loss on what the new sales price and mortgage value would be. So once you factor all the hard and soft costs the banks have to deal with on a typical REO home it doesn't take a genius or a hippy lib to see the benefit in this.
You may need to spend some time better understanding the mechanics as well as some of the finer nuances that make these markets work. The impression you present wreaks of naivety but with an added sprinkle of cosmic Charlie's magic hippie dust. Are you for real with your fnma comment or just a joker?
Perhaps this excerpt for starters;
"others see Watt as godsend given the fiery debate that continues to swirl around the fate of Fannie and Freddie. While the two companies recently posted record profits under DeMarco's watch, Watt's supporters say he's the right guy to lead the agencies into the next phase of their existence.
" Watt's supporters say he's the right guy to lead the agencies into the next phase of their existence."
This is good news.
The fact that he supports principle reduction is good news as this will save big $.
It's really interesting to see the desperation of those who remain chained to the status quo. There is nothing static here. The target has moved and continues to gain more momentum as it does. Soon the deals and the players will change too.
Don't have to wonder now do you? Also, demarco was a leftover from the Bush administration. Obama upheld his appointment in his first term as a show of bi-partisan pragmatism.
As for principle reduction, I am a GC. For the last several years we have worked for property preservation company's that dealt directly with bank REO property. Specifically we worked on a multitude of REO held by Bank of America. On average it costs the bank $30k per home to have them put back into salable condition. In some areas this is much higher as many things of value such as copper wire and tubing and aluminum and air conditioners etc are stolen and ripped from the walls.
Add the soft costs and the delinquent principal and interest on missed mortgage payments and the cumulative cost add up quickly on each home. The result is that it is often much less expensive for the banks to allow for a principle reduction that would allow the homeowner the opportunity to keep the home at a more affordable rate.
At the end of the day its a win win for bank and home owner. The banks also have to deal with the fact that many areas are 20-30% lower in value now than when these loans were originated. If they were to foreclose they would not be re-issuing new mortgages at old prices but rather at new lower values. This factors into the loss equation. The net result of principle forbearance is a streamlined route to the same net result at a savings to the banks.
GL chewing on that.
Yes. And the plausible reality is that a plan will emerge that will contain some degree of compromise that will be favorable to the current administration while allowing their detractors some caveats for reform.
At any rate nothing will remain static and with the mega earnings fnma is producing the window of time until we see the changes is getting smaller
That may be so but there are some that will defend the constitution here. Probably not out of altruism or patriotism but out of capitalism. These guys are called attorneys, barristers, lawyers, and a host of other unflattering names.
Like hyenas to a carcass they will smell the blood and the class action suits will commence.
If there was financial incentive for attorneys to make sure congress balances annual budgets we would have balanced budgets.
If politicians became automatically ineligible for re-election for failing to balance a budget at any point in their term we would have a balanced budget.
The voters have that power but not the intelligence to recognize that you don't need a new law to enforce this, you just need to fire every incumbent. ;)
You are clearly confused and obviously that has made you a malcontent.
You may have all the dots in your possession but it seems you have a great deal of difficulty connecting them with any rational thought.
You have no idea what you are saying. You clearly don't grasp the mechanics of how the tax payers investment works here or how it is to be repaid.
This was not a loan to fnma the loan was to the treasury from the taxpayers. The treasury owns preferred shares from use of the loan money. They receive a divi based on the shares they own and per the terms of the buy in by the fed. These divis are profits, the exit strategy from FNMA and FMCC by the fed and to repay the debt is to sell the Feds positions in F and F.
Why they need to do the is simple. The terms of the loan by taxpayers was to stabilize the mortgage mkts and prevent catastrophic failure NOT to provide the fed with an anti to go to the casino with. Things are good today but no one knows for sure how strong the current trend is or how long it will last. Taxpayers would be pissed to beat the band if an opportunity to exit with principle AND profit was not taken and suddenly the profits and the principle were gone due to greed, misappropriation, and stupidity.
How many politicians are willing to take that risk?
Are you aware of a little document called the US Constitution? Under the 5th amendment, it is illegal for the government to do what you suggest. This is not speculative in the least. There have been many articles that reference this violation as it can already be construed that given the suspension of dividends to all classes of shares except the preferred series that the FHFA holds the government is already in violation.
Watch how fast the lawsuits pile up here if there is even a hint of that speculation.
Ding ding ding ding!!!! Winner!
News: stocks trade on speculation of future events not on old news. Does your paperboy deliver vintage newspapers too?
F and F are moving targets that are picking up speed and momentum with every new housing report and earnings reports. It matters little what was decided in 2012 prior to the realization of a major housing recovery. The current agreement was made based on old information and apparently false perceptions as the courts are revealing.
Got aspirin?
The article that was posted here earlier referenced the president was expected to announce this today.