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what was said on Bloomberg about FNMA--I Missed it
Ally Strikes Deals With Regulators Over Mortgage Suits -- Update
http://online.wsj.com/article/BT-CO-20131029-716407.html
Obama--Zero executive experience---screwing up the whole cuntry(sp?)
FNMA fixes are set to fail
Proposed bills fail to fix Fannie and Freddie
http://thehill.com/blogs/congress-blog/economy-budget/188712-proposed-bills-fail-to-fix-fannie-and-freddie
CNN REPORTS U.S. deficit falls to $680 billion Thanks to FNMA AND FMCC!
CNN REPORTS Another boon was the fact that Fannie Mae (FNMA, Fortune 500) and Freddie Mac (FMCC, Fortune 500) paid back a large part of the $187 billion federal bailout the mortgage giants received, starting in 2008, to help them weather the housing crisis.
Key word, "Paid back" (NOT DIVIDENDS :))
Ally Strikes Deals With Regulators Over Mortgage Suits -- Update
http://online.wsj.com/article/BT-CO-20131029-716407.html
Fannie Mae (OTCQB : FNMA) is supporting today's economic recovery and laying the foundation for a better housing finance system. They guarantee and purchase loans from mortgage lenders to ensure families can buy homes, refinance, or rent a good home.
They have taken actions to improve our financial performance, build a profitable new book of business‚ and reduce losses on they legacy book. Continued stable revenues and a significant increase in home prices, which resulted in a reduction in our loss reserves, resulted in net income of $10.1 billion for the second quarter of 2013, our sixth consecutive quarterly profit.
From January 1, 2009 through June 30, 2013, Fannie Mae provided $3.7 trillion in mortgage credit, which enabled 3.1 million home purchases and 11.4 million mortgage refinancings. They also enabled financing for more than 1.9 million units of multifamily rental housing during this period.
http://www.sbwire.com/press-releases/getting-a-strong-boost-with-otcqb-stocks-pmcm-fnma-372639.htm
Solid volume----appears to be taking out stop loss triggers again
JPMorgan settlement is justice, not a shakedown-link
http://www.washingtonpost.com/opinions/katrina-vanden-heuvel-jpmorgan-settlement-is-justice-not-a-shakedown/2013/10/29/1eabf704-4015-11e3-a751-f032898f2dbc_story.html
The White House is getting lobbying help from some housing industry participants who have complained about DeMarco’s plans to reduce Fannie Mae and Freddie Mac’s footprint as soon as next year. The National Association of Home Buildersyesterday sent a letter to Senate leaders urging a vote.
Watt, if confirmed to run FHFA, would “take some time to map out what a coherent transition plan looks like,” James Parrott, a former adviser to Obama on housing issues, said at the Mortgage Bankers Association conference.
Obama Pushes to Replace DeMarco as Housing Overhaul Gains Steam-link
http://www.businessweek.com/news/2013-10-29/obama-pushes-to-replace-demarco-as-housing-overhaul-gains-steam
almost 90% of all residential mortgages.
THat's the bottom line folks
GLTAL'S
Paulson: "Fannie and Freddie was just supposed to be a "TIME OUT" on CNBC
Fannie and Freddie own more than 90% of mortgages and they are bigger and stronger than ever! WOW! The writing is on the wall and this opportunity should not be overlooked. Paulson said Conservatorship was supposed to be a timeout.
yesterdays short volume
Oct 28 28.06% 2.43 2.26 2.40 +9.09% 14,398,336
total=51,320,519
PPS will probably stay at this level or a little higher until we're very close to release from C-ship
Indeed---my platform still has HTB flag
BINGO MFKERS!!
JPM $13 bill plan in jeaopardy of collapse--
just reported on CNBC
JPMorgan deal should be model for future settlements-link
http://www.bostonglobe.com/opinion/editorials/2013/10/29/morgan-deal-should-model-for-future-settlements/0HpcUdM9ravqSot6VwdX3L/story.html
Hopefully we won't see a repeat of last spring when they dropped it to 0.09----look at the 52 week range
http://finance.yahoo.com/q?s=FNMA
We'd be lucky to see $30 bill total---that's enough for net ZERO
IMO you're way underestimatign earnings...should be double your $20bill ..more like /$40 bill
Why? Because the day yesterday 10/28/2013 at 3:59 pm, showed Finance.yahoo trade volume of 156 + million and closing stock trade at a price of $ 2.97 (41.43%)?
we've been stuck on the launching pad for a long time--sputtered a couple of times too
day traders have closed out by 3:30---EOD gap up
Shorts waving the White Flag soon
took the opportunity last thursday to add on the dip
added %40 more---almost zero margin left
THe amounts they are sueing for is not what they'll get in settlements, but that's not really the point--Net Zero gonna happen soon
For JPMorgan, ending criminal probe proves impossible for now
still more to come---it ain't over yet
http://www.reuters.com/article/2013/10/21/us-jpmorgan-settlement-idUSBRE99K00S20131021
Oh yeah, the evil--despicable- kniving--scheming GS should pay triple what JPM pays
$2.74 billion to Freddie and $1.26 billion to Fannie
Of the $5.1 billion it's agreed to pay, JPM will pay about $2.74 billion to Freddie and $1.26 billion to Fannie for mortgage bonds it sold. JPMorgan is paying a separate $1.1 billion for home loans it sold them.
http://www.stowsentry.com/ap%20washington/2013/10/26/jpmorgan-s-5b-settlement-doesn-t-end-its-troubles
The mortgage securities that JPMorgan sold to Fannie and Freddie included billions that were packaged by two institutions that failed in 2008: Wall Street bank Bear Stearns and Seattle-based Washington Mutual, the largest U.S. savings and loan. JPMorgan bought Bear Stearns and Washington Mutual in deals brokered by the government.
A number of big banks, including JPMorgan, Goldman Sachs and Citigroup, previously have been accused of abuses in sales of securities linked to mortgages in the years leading up to the crisis. Together, they have paid hundreds of millions in penalties to settle civil charges brought by the SEC, which accused them of deceiving investors about the quality of the bonds they sold.
But no high-level Wall Street executives has been sent to jail over charges related to the financial crisis. And the banks in all the SEC cases were allowed to neither admit nor deny wrongdoing -- a practice that brought criticism of the agency from judges and investor advocates. Some lawmakers and other critics have demanded that the big bailed-out banks and senior executives be held accountable.
JPMorgan had long enjoyed a reputation for managing risk better than its Wall Street competitors. The bank came through the financial crisis in better shape than most of its rivals.
But in recent months, it has been engaged in a number of embarrassing and costly settlements. In September, the bank agreed to pay $920 million and admit that it failed to oversee trading that led to a $6 billion loss last year in its London operation. That combined amount, in settlements with three regulators in the U.S. and one in Britain, is one of the largest fines ever levied against a financial institution.
In another case, the company agreed to pay a $100 million penalty and admitted that its traders acted "recklessly" with the London trades.
And in a first for a major company, JPMorgan admitted in the agreement with the SEC over the trading loss in London that it failed in its oversight.
Of the $5.1 billion it's agreed to pay, JPM will pay about $2.74 billion to Freddie and $1.26 billion to Fannie for mortgage bonds it sold. JPMorgan is paying a separate $1.1 billion for home loans it sold them.
http://www.stowsentry.com/ap%20washington/2013/10/26/jpmorgan-s-5b-settlement-doesn-t-end-its-troubles
The mortgage securities that JPMorgan sold to Fannie and Freddie included billions that were packaged by two institutions that failed in 2008: Wall Street bank Bear Stearns and Seattle-based Washington Mutual, the largest U.S. savings and loan. JPMorgan bought Bear Stearns and Washington Mutual in deals brokered by the government.
A number of big banks, including JPMorgan, Goldman Sachs and Citigroup, previously have been accused of abuses in sales of securities linked to mortgages in the years leading up to the crisis. Together, they have paid hundreds of millions in penalties to settle civil charges brought by the SEC, which accused them of deceiving investors about the quality of the bonds they sold.
But no high-level Wall Street executives has been sent to jail over charges related to the financial crisis. And the banks in all the SEC cases were allowed to neither admit nor deny wrongdoing -- a practice that brought criticism of the agency from judges and investor advocates. Some lawmakers and other critics have demanded that the big bailed-out banks and senior executives be held accountable.
JPMorgan had long enjoyed a reputation for managing risk better than its Wall Street competitors. The bank came through the financial crisis in better shape than most of its rivals.
But in recent months, it has been engaged in a number of embarrassing and costly settlements. In September, the bank agreed to pay $920 million and admit that it failed to oversee trading that led to a $6 billion loss last year in its London operation. That combined amount, in settlements with three regulators in the U.S. and one in Britain, is one of the largest fines ever levied against a financial institution.
In another case, the company agreed to pay a $100 million penalty and admitted that its traders acted "recklessly" with the London trades.
And in a first for a major company, JPMorgan admitted in the agreement with the SEC over the trading loss in London that it failed in its oversight.
230's hell....open dollars higher
PPS was taken to 0.09. Last spring. It's too close to ER for shenanigans. Hopefully this time it won't get jacked
THe run is gonna go way way past $3. Need at least $5 for relisting---and that's a given. I'm with BLUE $60-$200 PPS
Insider info--created Thursday's Volume --144 Mill shares
Glad I'm all IN---but the crooked ways of big money are despicable
no buying either until Monday @ 9:30===probby more news over the weekend
Insider info--created Thursday's Volume
Glad I'm all IN---but the crooked ways of big money are despicable
THe run is gonna go way way past $3. Need at least $5 for relisting---and that's a given. I'm with BLUE $60-$200 PPS
They must be lettin shorts cover today
They must be lettin shorts cover today