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Fannie Mae, Freddie Mac Not As Risky As They Seem?
by Clayton BrowneNovember 25, 2013
http://www.valuewalk.com/2013/11/fannie-mae-freddie-mac/
Form 8-K for ANDALAY SOLAR, INC.
http://biz.yahoo.com/e/131125/west8-k.html
Thanks
I hope so I also been here over 2 years GL?
Nov 25th: DeMarco is talking about post conservatorship -last line
FHFA Progress Report Details Advancement on Securitization
Infrastructure and Credit Risk Sharing
Washington, DC – The Federal Housing Finance Agency (FHFA) issued a Progress Report
today on the initiatives outlined in the Strategic Plan for the Enterprise Conservatorships and
the 2013 Conservatorship Scorecard. In particular, important progress toward the building of a
new secondary mortgage market infrastructure and the contracting of Fannie Mae and Freddie
Mac’s dominant presence in the marketplace has been achieved.
The Progress Report details the following milestones:
• Significant progress has been made on the development and initial testing of the
Common Securitization Platform (CSP); however challenges, including necessary
changes to Fannie Mae’s and Freddie Mac’s technology and business processes, remain
before full implementation.
• Fannie Mae and Freddie Mac have formally established Common Securitization
Solutions, LLC as the joint venture that will own the CSP and related business and
operational functions.
• Fannie Mae and Freddie Mac have each executed multiple risk-sharing transactions
totaling more than $30 billion.
• Fannie Mae and Freddie Mac have achieved the Scorecard objective of gradually
reducing the less liquid portions of their retained portfolios.
• Fannie Mae and Freddie Mac have completed review of pre-conservatorship loan
acquisitions and have recovered more than $18 billion in restitution for breaches of
selling representations and warranties.
“These accomplishments represent important steps that are helping to bring stability and
liquidity to the housing market while also laying the foundation for a future, postconservatorship
housing finance system,” said FHFA Acting Director Edward J. DeMarco.
“Much more remains to be done and our work will continue while lawmakers decide a
future course.”
Interested parties are invited to provide written input on this report via email to:
ConservatorshipStrategicPlan@fhfa.gov Less
Form 8-K for MEDICAL ALARM CONCEPTS HOLDINGS INC
http://biz.yahoo.com/e/131125/mdhi8-k.html
Fannie Mae, Freddie Mac 2013 bill sale calendarReuters(Mon 10:02AM EST)
Freddie Mac, Fannie Mae and FHLB 2013 note calendarReuters(Mon 9:13AM EST)
Fannie Mae will not sell benchmark notes this weekReuters(Mon 9:10AM EST)
LET'S GO
GOOD NEWS
Last Price
2.83
Today's Change
+0.10
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+3.66%
)
NEWS Don Frankman Joins Greystone as Managing Director in Newport Beach
9:22 AM ET | BusinessWire
Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced the addition of Don Frankman to the firm's growing West Coast Headquarters in Newport Beach, California. Appointed Managing Director and Relationship Manager, Mr. Frankman will focus on production for debt-financing solutions across Fannie Mae, Freddie Mac, FHA, CMBS and Greystone's proprietary lending platforms. Mr. Frankman brings more than 20 years of experience in real estate finance and commercial real estate valuation to Greystone, and will report to Rick Wolf, Senior Managing Director of Greystone's West Coast Production. "A leading producer throughout his entire career, Don's skills and expertise in multifamily lending will further strengthen our presence and grow our customer base in the region," said Wolf. "His contributions will be complemented by a group of dedicated credit and operational staff focusing on our West Coast clients," he added. Mr. Frankman joins Greystone from Alliant/ACRE Capital LLC, where he was SVP, Small Loan Origination Manger. He was responsible for origination production under the Fannie Mae DUS and Small Loan Programs nationally, specializing in multifamily lending. Prior to working at Alliant, Mr. Frankman was Vice President for Chase Commercial Term Lending Group and Citibank Commercial Real Estate Finance. While at Chase and Citibank, he originated and underwrote over $2 billion in commercial loan originations throughout the western United States. Mr. Frankman received a Bachelor's of Science in Real Estate from San Diego State University. Greystone was the number one FHA lender in 2012 and is ranked as a top-10 Fannie Mae lender. For more information about Greystone's multifamily financing solutions please visit http://www.greyco.com/multifamily. About Greystone Greystone is a financial services and private investment group whose original core business is multifamily real estate lending. Over the years, Greystone has added business lines that are related to, and natural extensions of, its core business. Headquartered in New York with a presence in 35 states, Greystone is active in three major business segments: Mortgage Finance, Healthcare and Real Estate. Greystone's mission is to apply unparalleled creativity while modeling corporate compassion. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, please visit www.greyco.com. http://cts.businesswire.com/ct/CT?id=bwnews&sty=20131125005725r1&sid=cmtx6&distro=nx SOURCE: Greystone Greystone Karen Marotta, 212-896-9149 PR Manager KMarotta@Greyco.com
Zacks! FNMA AS #2 RANK BUY and current year earnings estimate $5.24
With PE ratio of 10 puts the PPS to $52.40.
NEWS Politicians cloud outlook for MBS market
http://www.ft.com/cms/s/0/24495d66-55a8-11e3-96f5-00144feabdc0.html#axzz2lenzdKoE
Ackman, who reported nearly 10 percent stakes in the common shares of mortgage financiers Fannie Mae (FNMA) and Freddie Mac (FMCC) on November 15, also said that his firm does not support Bruce Berkowitz of Fairholme's plans to take the financiers' insurance businesses private.
He said that he sees greater opportunity in the common shares of Fannie Mae and Freddie Mac than he does in the preferred shares.
Berkowitz's Fairholme Funds scooped up preferred shares of Fannie Mae and Freddie Mac with a face value of $3.5 billion at a massive discount, as well as some common shares.
(Reporting By Sam Forgione, Tim McLaughlin and Ross Kerber; Editing by Tim Dobbyn)
NEWS OUT. Nader Wants Fannie-Freddie Hearing on Shareholder Rights
http://www.thestreet.com/story/12121294/1/nader-wants-fannie-freddie-hearing-on-shareholder-rights.html?puc=yahoo&cm_ven=YAHOO
[bNEWS *DJ Moody's: Recently Originated 3rd-Party Loans Have Performed As Well As, And Even ...
11/22/2013 08:26
DowJones
It looks like a nice cup I think we will go over $ 6.00 before new years.
HUGE NEWS
http://www.smallcapnetwork.com/Small-Cap-Andalay-Solar-WEST-Is-This-Troubled-Solar-Stock-Set-for-a-Turnaround-RSOL-SCTY/s/via/3414/article/view/p/mid/1/id/1596/
NEWS. Senate gone nuclear ups chances for Watt to lead FHFA and loan limits to be frozen
http://blogs.marketwatch.com/capitolreport/2013/11/21/senate-gone-nuclear-ups-chances-for-watt-to-lead-fhfa-and-loan-limits-to-be-frozen/
MORE GOOD NEWS
*DJ Fannie Mae: Signs Point to Economic Volatility in Near Term
11/21/2013 09:06
DowJone
*DJ Fannie Mae: Share Of Consumers Who Expect Home Prices To Go Up Next 12 Mos Fell ...
11/21/2013 09:08
DowJone
NEWS U.S. Mortgage Rates Fall for First Time in Three Weeks
http://www.bloomberg.com/news/2013-11-21/u-s-mortgage-rates-fall-for-first-time-in-three-weeks.html?cmpid=yhoo
NEWS Signs Point to Economic Volatility in the Near Term
http://finance.yahoo.com/news/signs-point-economic-volatility-near-140000232.html
Last Price
2.77
Today's Change
+0.015
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+0.54%
)
NEWS Levine on Wall Street: Deutsche's LOL Market Manipulation
http://www.bloomberg.com/news/2013-11-21/levine-on-wall-street-deutsche-s-lol-market-manipulation.html?cmpid=yhoo
I saw this and I like it. Good night guys I have to wake up early tomorrow. With the help of somebody superior than us humans will be a great day tomorrow .
If anyone thinks Fannie is worthless, send your shares to me and I will "dispose" of them for free.
If these companies go down we can say good by to our wonderful country .
Do your own DD and see what % of mortgages they create monthly.
Wake up
You know what's cooking
My respect to you also.
Blue for all your hard work and dedication I wrote something for you and anybody else who cares about each other.
Though we have many people in our surrounding, but there are only lovely friends who make all the variation. If they are here nothing else matter. Friendship is that feeling as of a small child whose love is unqualified, uncommitted and yet so uncontaminated. Friends are a family exterior home where the responsibility of each person is shared equally by everyone else. Like a family, they conduct you to a right path and never let you deflect from your aim. They are good to be relied on and there is a logic of security whenever you are with them. Life with friends becomes an easy going journey and that is what I feel when you are around.
Blue that is great news and this is the part I like.
There’s a simple solution: Reform the GSEs; don’t replace them. Set strong capital requirements. Get rid of any implicit or explicit guarantee from the federal government (the Corker-Warner bill, by contrast, adds a $5 trillion liability to the federal balance sheet). Let Fannie and Freddie compete on equal terms with other financial companies. And banish the political meddling that precipitated the mortgage meltdown in the first place.
James K. Glassman, a former U.S. undersecretary of state, is visiting fellow at the American Enterprise Institute.
Thank you
Thank you
MORE GOOD NEWS. National MI entered into a mortgage credit risk transaction with Fannie Mae to provide coverage on approximately $5.2 billion in single family mortgages.
NMI Holdings, Inc. Reports Third Quarter 2013 Financial Results
4:05 PM ET | PR Newswire
NMI Holdings, Inc., (NASDAQ: NMIH) (the "Company"), the parent company of National Mortgage Insurance Corporation (National MI), today reported its results for the three months ended September 30, 2013. The Company reported a net loss for the quarter ended September 30, 2013 of $13.9 million, or $0.25 per share, and a net loss of $42.1 million, or $0.76 per share, for the first nine months of 2013. For the third quarter of 2013, the Company had total revenues of $2.2 million, primarily comprised of $1.5 million of investment income and $0.5 million in earned premiums. The majority of premiums earned for the period are attributed to a mortgage pool transaction with Fannie Mae which became effective on September 1, 2013. For the nine months ending September 30, 2013, the Company had total revenues of $3.4 million, primarily comprised of $3.3 million of investment income. "In the third quarter of 2013, National MI entered into a mortgage credit risk transaction with Fannie Mae to provide coverage on approximately $5.2 billion in single family mortgages. We expect to earn an estimated $20 million in premiums over the 10 year coverage term," said Bradley Shuster, Chairman and CEO of NMI Holdings, Inc. "We are pleased that Fannie Mae selected National MI to provide credit risk coverage on this group of loans. We believe the marketplace recognizes the need for a new, well-capitalized, counter-party in the market. National MI brings a strong, unencumbered capital base and a low risk-to-capital ratio which is well-suited for this transaction." Total expenses for the quarter were $16.0 million, of which payroll and related expenses represented approximately 44% of the total expenses for the period. For the nine months ending September 30, 2013, the Company had total expenses of $45.5 million. At September 30, 2013, the Company had approximately $446 million of cash and investments and book equity of $447 million amounting to $8.03 in book value per share. On November 14, 2013, the Company closed its initial public offering of 2,415,000 shares of common stock (including shares purchased by the underwriters pursuant to exercise of the over-allotment option) at a public offering price of $13.00 per share, before underwriting discounts. In addition, certain existing stockholders sold 3,395 shares in the offering. Gross proceeds to the Company were $31.4 million and net proceeds after underwriting discounts and other offering expenses and reimbursements were approximately $29 million. The Company did not receive any proceeds from the sale of shares by the selling stockholders. "I am very pleased with our accomplishments in the past several quarters," Shuster said. "In less than a year, we have obtained GSE approvals and licenses in 49 out of 51 jurisdictions, made the Company operational, and began issuing mortgage insurance policies to serve the needs of the housing market. We believe the mortgage industry recognizes the value of a well-capitalized company with a master policy that provides customers with what we consider to be an unprecedented certainty of coverage." Conference Call and Webcast Details NMI Holdings, Inc. will hold a conference call today, November 20, 2013 at 2:00 p.m. Pacific time to allow analysts and stockholders the opportunity to hear management discuss the Company's quarterly results. The conference call will be broadcast live on the Company's website, in the "Investor Relations" section at http://ir.nationalmi.com. The call may also be accessed by dialing (888) 734-0328 inside the U.S., or (678) 894-3054 for international callers using conference ID: 12743586, or by referencing NMI Holdings, Inc. Investors and analysts are asked to dial-in ten minutes before the conference call begins. About National MI National Mortgage Insurance Corporation (National MI) is headquartered in Emeryville, California, in the San Francisco Bay Area. NMI Holdings, Inc., National MI's parent company, raised over $500 million of capital in a private placement of its securities in April 2012, and completed its initial public offering in November 2013. National MI has received approval from Fannie Mae and Freddie Mac as a qualified mortgage insurer, and has been approved to provide mortgage insurance in 48 states and the District of Columbia. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends" and similar words or phrases. All forward-looking statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Many risks and uncertainties are inherent in our industry and markets. Others are more specific to our business and operations. These risks and uncertainties include, but are not limited to, those set forth under the heading "Risk Factors" in our most recent Registration Statement on Form S-1, and described from time to time in subsequent reports, filed with the U.S. Securities and Exchange Commission. Any or all of our forward-looking statements in this press release may turn out to be inaccurate. Consequently, our actual results could differ materially from those anticipated in such forward-looking statements contained in this press release. Any forward-looking statement speaks only as of the date on which it is made and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events except as required by law. Media Contact: Mary McGarity Strategic Vantage Mortgage Public Relations (203) 513-2721 MaryMcGarity@StrategicVantage.com CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS NMI Holdings, Inc. (A Development Stage Company) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2013 2012 2013 2012 (unaudited) (unaudited) (unaudited) (unaudited) (In Thousands, except per share data) Revenues Direct premiums written $ 482 $ -- $ 483 $ -- Net premiums earned 482 -- 483 -- Net investment income 1,519 1 3,336 1 Other revenue 160 -- (438) -- Total Revenues 2,161 1 3,381 1 Expenses Payroll and related 7,090 4,086 20,896 5,915 Share-based compensation 1,968 2,045 8,827 3,091 Professional fees 2,349 1,143 5,577 2,470 Depreciation and amortization 2,045 -- 3,892 -- Information technology 1,328 281 3,455 282 Other 1,254 559 2,833 2,938 Total Expenses 16,034 8,114 45,480 14,696 Net Loss $ (13,873) $ (8,113) $ (42,099) $ (14,695) Share Data Basic and Diluted loss per share $ (0.25) $ (0.15) $ (0.76) $ (0.46) Book value per share $ 8.03 $ 8.99 $ 8.03 $ 8.99 Weighted average common 55,637,480 55,500,100 55,589,674 32,003,750 Shares outstanding 55,637,480 55,500,100 55,637,480 55,500,100 CONDENSED CONSOLIDATED BALANCE SHEETS NMI Holdings, Inc. (A Development Stage Company) September 30, December 31, September 30, 2013 2012 2012 (unaudited) (unaudited) (In Thousands) Cash and cash equivalents $ 34,097 $ 485,855 $ 494,784 Restricted cash -- 40,338 20,830 Investment securities 411,983 4,864 3,458 Accrued investment income 1,834 -- -- Goodwill and other intangible assets 3,634 3,634 4,702 Software and equipment, net 9,054 7,550 5,761 Other assets 1,117 527 457 Total Assets $ 461,719 $ 542,768 $ 529,992 Accounts payable and accrued expenses $ 9,276 $ 8,707 $ 5,339 Purchase fees and purchase consideration payable -- 40,338 20,830 Warrant liability 5,452 4,842 5,120 Other liabilities 133 133 -- Total Liabilities 14,861 54,020 31,289 Total Stockholders' Equity (Deficit) 446,858 488,748 498,703 Total Liabilities and Stockholders' Equity $ 461,719 $ 542,768 $ 529,992 SOURCE NMI Holdings, Inc. http://rt.prnewswire.com/rt.gif?NewsItemId=FL21191&Transmission_Id=201311201605PR_NEWS_USPR_____FL21191&DateId=20131120
Do you see the key word "WOULD REJECT" what a joke.
NEWS Hunt Completes Acquisition of Centerline Holding Company
0:00 AM ET | BusinessWire
Hunt Companies, Inc. ("Hunt") is pleased to announce the successful acquisition of Centerline Holding Company ("Centerline"). Under the terms of the transaction, an affiliate of Hunt became, through a merger, the sole holder of Centerline's common shares. Following the acquisition, Centerline will operate as a subsidiary of Hunt. In connection with this acquisition, Hunt gains a national mortgage-banking platform offering Fannie Mae, Freddie Mac, HUD/FHA, CMBS and other debt products while servicing $12.4 billion of loans. This transaction also significantly expands Hunt's affordable housing asset management business by adding $9.2 billion in investor equity under management in 113 funds comprised of approximately 138,000 units. Hunt is a privately-owned investor, developer and manager of real assets headquartered in El Paso, Texas with offices across the country providing a broad range of services to public and private sector clients. This acquisition brings Hunt's assets under management to $24.8 billion and increases Hunt's multifamily units under management from 141,325 to 278,408. "We are delighted to have closed this transaction, and we welcome Centerline and its employees into the Hunt family," said Chris Hunt, President and COO. "We are excited to enter a new business in mortgage-banking and to grow what we believe to be the premier asset management platform in affordable housing." Hunt was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP and DLA Piper LLP. About Hunt Hunt Companies, Inc. is a national developer, investor and manager of real assets. Founded in 1947 and headquartered in El Paso, Texas, Hunt has more than 1,200 employees across the United States. Together, Hunt and its affiliates have $24.8 billion in assets under management, including 278,408 multifamily units and 5.7 million square feet of office, retail and industrial properties. Hunt has also developed 89,000 housing units, over 1 million square feet of commercial space and thousands of acres of land. Hunt has offices throughout the United States, including in Atlanta, Boston, Chicago, Columbia (SC), Dallas, Denver, El Paso, Honolulu, Los Angeles, Memphis, Miami, New York, Philadelphia, Sacramento, San Francisco and Washington D.C., and international offices in Abu Dhabi, London and Mexico City. To learn more about Hunt, please visit www.huntcompanies.com. http://cts.businesswire.com/ct/CT?id=bwnews&sty=20131118005861r1&sid=cmtx6&distro=nx SOURCE: Hunt Companies, Inc. Hunt Companies, Inc. Brenda Christman, 915-222-1669 brenda.christman@huntcompanies.com
GOING UP ?
Last Price
3.42
Today's Change
+0.12
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+3.64%
NEWS Ackman Joins Fray to Pry Once-Worthless Fannie From U.S.
http://www.bloomberg.com/news/2013-11-18/ackman-joins-fray-to-pry-once-worthless-fannie-from-u-s-.html?cmpid=yhoo