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Somebody has recovered the conference call? Or is there a link we can listen it?
Why Thursday ? What events ?
What news?
Mnuchin changes his words each time.
Not accountable!!
Weeks ago, he said reform is not near future. Then reform plan is urgent and recap us immediate!
Don’t listen to him!!
Absolutely $20 !!! Friday
Recap for $100 billions - business for his friends. Then how about the pps of FNF?
But Mnuchin is considering appealing to the cour decision, and pps goes down.
He is not good
Mnuchin wants FNF reform and also say he maybe considers the appeal to the court. Apparently a contradictory guy.
Supposing the FNF reform plan is accepted by the President Trump. So the plan carries out, Release FF and go to IPO. Pps will continue go up.
How does the appealing to the court by Mnuchin influence the recap and release and go to IPO?
Why they hide? Why not today?
Absolutely, in a hour
When and where Mnuchin said that?
I can’t wait to relist back to NYSE.
Step1=pps>$4 (today)
Step 2=President Trump release FNF Out of C-ship (tomorrow)
Step3=Administration preparations (the day after tomorrow)
There conditions are satisfied. Then relist back to NYSE.
Quickest is Friday?
Reasonably in one month?
My God my dream will be realized in one month $35!!
I agree with you on the idea that FNF are like before 2008 but with more capital by cancellation of C-ship,warrant..
The higher shock prices the higher capitals!
WSJ
OPINION REVIEW & OUTLOOK
Subduing the Housing Godzillas
The Trump Treasury has some good ideas for shrinking Fan and Fred.
By The Editorial Board
Sept. 9, 2019 7:10 pm ET
Federal Housing Finance Agency director Mark Calabria in Washington, D.C., April 18. PHOTO: T.J. KIRKPATRICK FOR THE WALL STREET JOURNAL
The Trump Administration last week sketched out an ambitious plan to rein in mortgage monsters Fannie Mae and Freddie Mac and release them from government captivity. Godspeed to Federal Housing Finance Agency (FHFA) director Mark Calabria, who’s unlikely to get help from Congress in this Sisyphian task.
After devouring $190 billion from taxpayers to stay alive in 2008, Fannie and Freddie have spent the past decade in government conservatorship. The Godzillas, backed by the housing lobby and Wall Street speculators who have bought their shares, are eager to break loose and run wild again. While the Trump Administration has some useful ideas to cut them down to size, to avoid a repeat it’s first worth recalling how they became such monsters.
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Congress chartered the government-sponsored enterprises some five decades ago to increase liquidity in housing finance. The GSEs securitize and guarantee mortgages, freeing private lenders to make more loans. Thanks to an implicit government guarantee, they could borrow cheaply and push out competitors. Private profit and socialized risk—sweet.
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The duo also benefitted from lower capital requirements that gave them an advantage over banks. Their mortgage-market share tripled to 25% in the 1980s, and then Democrats in Congress imposed “affordable housing” mandates that encouraged the GSEs to bulk up even more. Fan and Fred increased subprime lending and relaxed underwriting standards, including “liar loans” that required no income documentation. Their profits ballooned.
But all of this set them up to collapse when the housing bubble burst, prompting Congress to establish the FHFA and bail them out. Uncle Sam took an 80% common stake in the GSEs. We argued at the time that they should be placed in receivership, but FHFA kept them on life support. Drip, drip.
Fannie and Freddie were supposed to pay “period commitment fees” for their government line of credit along with a 10% dividend on senior preferred stock to taxpayers. But since they were still reeling from the crisis, the Obama Treasury instead decided to sweep their quarterly profits.
Legacy stockholders say the GSEs have more than repaid their $190 billion bailout with the $300 billion in dividends to Treasury. Yet the companies still haven’t paid for their government backstop and continue to benefit from disparate regulatory treatment that has let them expand their balance sheet again with riskier loans.
The Consumer Financial Protection Bureau exempted the GSEs from its “qualified” mortgage rule requiring borrowers to have a 43% debt-to-income ratio. About 30% of the GSEs’ new purchase mortgage acquisitions last year exceeded this threshold and homeowners have put less than 5% down in about 10% of new purchase loans acquired by the GSEs.
Fannie and Freddie have also competed with each other and the Federal Housing Administration (FHA) for subprime borrowers by easing underwriting standards. Obama -appointed FHFA director Mel Watt encouraged Fan and Fred to expand into riskier lines of businesses like cash-out refinancing and multi-family affordable housing. Taxpayers now stand behind $5 trillion in mortgages, while hedge funds have bought GSE shares on a bet they’ll eventually be unleashed.
***
Enter the Trump Administration, which last week proposed to gradually shrink the GSEs and return them to private hands. Treasury wants Congress to authorize the FHFA to charter competing “guarantors” with an explicit government guarantee that private investors (as well as Fannie and Freddie) would have to pay for to offset the taxpayer risk.
Putting a price on the taxpayer guarantee has some merit, but Congress rejected this idea last session and is cowed by the housing lobby. That leaves Mr. Calabria, who has substantial discretion as the new FHFA chief. He could start by reducing GSE support for cash-out refinancing, investor loans, vacation home loans and higher principal-balance loans. The American Enterprise Institute’s Ed Pinto estimates that leaving these businesses over time could shrink the GSE footprint by 45%.
The Administration also suggests levelling the regulatory field by subjecting Fannie and Freddie to comparable capital and underwriting standards that private lenders must meet. The Federal Reserve requires banks to hold more than twice as much capital for comparable loans than Mr. Watt proposed for Fannie and Freddie. Another idea is to form a nonaggression pact with the FHA to prevent a competitive erosion of lending standards.
The Trump Treasury wants to let the GSEs build capital for an eventual public release, and perhaps an IPO, which could mean raising as much as $180 billion. The risk is that, once they have more capital, Congress will release them without restraints. But there’s also a risk that the next Democratic administration will simply nationalize them and exert even more government control over housing finance. Mr. Calabria’s most urgent task is to make Fan and Fred less dangerous by shrinking them.
Bad idea. I have all in commons
Third parties capitals: Private investors? Secondary markets?
I will vote for him if he releases FNF.
How long it will take to uplift NYSE? OTC IS NOT POSSIBLE FOR $100?
Go go go all the way up to $200, I will give my notice to my boss. Good bye! With FNF profits I will buy things I dream of...
So what? I will be more than happy to make money with 30 million shares traded. The important question is do you lose money or not?
I am all in. If I can i will load more, maybe steal my husband’ money? Legal or not legal?
Yes, it will go to $5, even higher
Link please
As I understand that Supreme Court accepts only 5% of the case . The other 95 % of case they just turn down.
If our case is in 95% , then yesterday’s decision will hold.
Excellent
In terms of timing, the court decision one day after Treasury plan makes Mnuchin and Calabria stupid.
In the Plan, there is no timeframe for ending NWS that means Mnuchin continues to loot FNF money.
One day after court said Treasury stealing money is illegal.
What a Treasury Secretary!!!
Tomorrow morning he will be interviewed by Maria and will say Obama stealing money is illegal.
Maria will ask what HAVE YOU BEEN DOIND for past two year stealing money from FNF?
Happy to watch Treasury Secretary’show!!!
Absolutely, Trump takes advantage of every opportunity to claim a WIN.
In the end its a win for HIS team. Court decision make his team work for us, only for this particular case
And his team should be on OUR side.
Otherwise Trump will lose the re-election!!
Fully agrée. Long commons!!!
Shorts margin calls
Excellent idea! Movie producer Mnuchin!
Comedy happy ending !!
What Mnuchin will say end NWS AND CANCEL WARRANTS !!!
Haha
We don’t need next Tuesday. We win big in the court! What we need is next Monday pps go up up up
We are all realistic and we are all positive on FNF. That’s why we win! Big pockets are coming! Thank God make us RICH!!
Please say something Crypto! We need your opinions in this moment!
Please
Time will tell! You said this because you are short position and you lose BIG!!
Happy long commons!
How can shorties attack? If so
They are accelerating their dead day!
I don’t think so. The court decision is immediate. If Mnuchin doesn’t make a appeal to the court decision they have to stop NWS immediately!!
Interesting to see the reactions of Mr. Calabria and Mnuchin!!
Go they have sense of what is right for this country?
Good bye Senior Preferred & Warrants!
Justice prevail!! We love USA!!
The court decided NWS is illegal and FHFA unconditional!!
Otherwise Mnuchin will be with Obama if he appeals!
Thanks,