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Here's kyle bass:
http://www.cnbc.com/id/100391704
They're going to talk about the fed at 4:20 est
Did he talk yet? I am home with the flu and may have missed it.
In my email, so no link:
For Immediate Release
Thursday, January 17, 2013
Waters Backs Mortgaging Servicing Rule but Calls for Additional Protections
WASHINGTON – Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement today in response to the announcement by the Consumer Financial Protection Bureau of a rule governing actions by mortgage servicers:
The rule is a strong first step towards limiting widespread predatory practices by the mortgage servicing industry, which have led to many American families needlessly losing their homes. It establishes rules that provide lenders with clear guidance and significantly increases protections for borrowers. It also enhances servicers’ disclosure requirements and includes provisions to help rein in the unfair practice of “forced place” insurance.
However, the rule should not be the only step toward protecting borrowers from wrongful foreclosure. First, servicers must be required to engage in loss mitigation. Also, more progress should be made in addressing the problem of “dual tracking,” by which servicers consider borrowers for loan modifications while simultaneously moving them towards foreclosure. Furthermore, homeowners must be guaranteed a more robust right to appeal when they are denied loan modifications.
In the past, bank regulators have failed to prevent servicers from aggressively pushing borrowers into foreclosure, and largely did not recognize the seriousness of the problem. The rule issued today demonstrates the importance of the Consumer Financial Protection Bureau, which was established in the Wall Street Reform and Consumer Protection Act over the objections of many people who argued that consumers needed no further protections. One of my primary objectives as Ranking Member of the Financial Services Committee will be to make sure that the law remains strong and that American families are provided adequate protections.
Congresswoman Waters has been a very strong advocate for increased consumer protections against unfair practices by mortgage servicers. In 2011, she introduced the Foreclosure Prevention and Sound Mortgage Servicing Act (H.R. 1567), which would require servicers to offer at-risk borrowers specific strategies to help them save their homes, beginning with affordable loan modifications, followed by a designated list of alternative strategies. Congresswoman Waters had introduced a nearly identical bill in 2008, long before the magnitude of predatory practices in mortgage servicing was widely recognized
Is that you buying Taint?
http://finance.yahoo.com/q?s=FNMFO
SO in the dolrums. Thought we'd see a move up.
All the good news out there and it looks like my ship is sinking.
The results of the AIG lawsuit will be known before the feds get to exercise warrants for the GSEs.
I wish we could fast forward just 1 more year to see where we stand.
Ace - get my latest email address from Taint. I haven't read my other one in so long I forget the password.
So why are we up? Just because it is the new year?
I remember mbers posting a lot, just don't remember the name Maria.
"maria bersimenko"
.
That's odd. I don't remember mbers name as maria. Anybody else remember that?
"
i do not expect such an offer. i do not think the us govt can have such an embarrassment."
Agree, plus where would they get future investors in anything they want to do?
"e.g.: fannie mae hereby offeres 5 bucks a share for the pfd s tendered by july 4, 2021 up to and including 1.2 million shares."
I certainly hope we get better than 5 bucks. I had to clean up my wording on my opinion so that people wouldn't interpret it differently. You know who you are.
scroll to the bottom to see Fannie jr preferred stock info
http://www.fanniemae.com/portal/about-us/investor-relations/stock-information.html
Look here for Freddie jr preferred stock
http://www.freddiemac.com/investors/preferred_stock.html
"I recall mentioning the GSEs as a possible investment to a friend over 2 years ago and was laughed at"
True enough. I tried explaining all the bad mortgage underwriting to a friend and he abruptly denied it was happening as he had to go through the normal check process to get a loan. If you aren't interested in following the story, you won't get it.
DP - why would your boss mind if you write about F&F? Where I work, many people have another job or run other businesses, and the boss stays out of it because it's not his business. Just do your work, you'll do fine.
I thought we'd see upward movement this week. Obviously not happening.
"Speaking of a long day... I had one too. My boss (owner of company) who is over 85 has gone completely paranoid. He's now asking each and every employee to email him each and every action they do daily."
So do it, make sure all of you have lots and lots and lots of actions every day.
""a GSE's" conservatorship...could be freddie before fannie. theoretically. can definetly convert warrants and sell back and recoup in 2013...if govt wants to. likely will not"
Thing is, we don't know what they're going to do or when they're going to do it. Have to buy and hold shares in advance.
"4cent, and camaro are not duplicate Ids"
Thanks for the defense Taint.
"4cent, and camaro are not duplicate Ids"
I'm missing a post somewhere, did not see this one. Had no idea I was 4cent, but I'll take the compliment.
wooden - teasing is good, no harm done. I'm just too busy, when I get that busy, I make mistakes such a typos and leaving words out
You're making yourself crazy. You know I'm saying that I walked away from a perfectly nice guy. Oh well, it's early.
Also the Turnberry in Rosslyn is supposed to be nice. That would be easy upkeep.
Okay, I meant blew him off, as in let him go. No fun at all for either of us.
Taint- check out the Clarendon, VA area. Walk to this and that. On the subway line so can go to dc easy. Nearby Virginia Hospital Center is not the place to go if you have pancreatic cancer.
"for $1.25 mil in sarasota"
What's sarasota like? I once had a perfectly nice guy inquire if I'd be interested in a move there. Blew him, too bad.
That looks nice. I like the sale price.
Thanks. Right now, not doing too much of anything except working. I live at my office. Don't have internet there now either.
Thanks. Good news for me.
Fiscal cliff and divvies - anyone find out what they've done to the taxes on dividend income? That would be my impact, worrisome.
T-Fud is always right. Happy New Year everyone. I wonder if we will all be together on some board saying Happy New Year to everyone in 5 years.
I so was working at a place where I did not have internet access during the day. Hard to make trades go through if you can only put orders in in the morning. I'll be happy for all of us though when this comes through.
"MY RV for Lehman, Freddie and Fannie is about 45 million. "
You're my new best friend.
Tend to agree. Maybe in 2013 we can get you to change your name to something better than 4 cents on the dollar.
Rosetta seemed to hit the road about the time that the change in divy payment was made.
good golly, now fmcco is doing it
http://finance.yahoo.com/q?s=FMCCO