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Isn't odd how every administration, only the FHFA head ever really says much concerning the conservatorship, while treasury keeps pretty much mum? Treasury is in full control of the backing and 1/2 the agreement.
New name soon... Government Sponsored Entitlements, Same acronym.
Does anyone have any idea, or solid reason why the opt out date is April 23 but yet the court trial is supposedly July? Correct? Which would mean no decision any sooner than say September/November, based on how things have been going. I'm curious as to why they are giving such a short notice? They could allow opt out until mid June, as far as things go.
Looking more and more like a pushed accelerated snafu plan by FHFA/treasury and courts, now that resignations are happening.
Why push out and/or force out top level managers who are years knoledgeable into this, just to have a bunch of new "know nothings" put in their place just before a jury trial? Hmmmm...MAYBE that's the plan! The less the newbies know, the easier a crooked plan can be passed under their nose.
I've said it a few times since they announced the class action, something stinks.
There's a reason for the exodus. Either forcedby government or self imposed due too wantingnout before doo-doo hits the fan.
I was very much hoping this administration would stand pat, then mudterms. Anything they do from now until then, won't be good for any of us.
That's what I think. They have a list of how many shares you own, regardless of account. Opt in or out it's based on your total shares. In Guido's case he has accounts in both him and his wifes name, so he is opting out his shares and she is not, which is perfectly fine. It's good to have that option. So that being the case you could switch an account or accounts over to your wife/husband/kid possibly, but then there's that Dec 7 2021 date, so any change of ownership on an account, if looked at as new shares purchased, would automatically be not part of the class,,so, possible way of opting out accounts. Just kicking around ideas.
I have FNMA commons and since they are currently excluded, the option to sue similar to the plantiffs on this class suit will still be an option for the FNMA common group.
Class actions rarely work well for the larger class group and only the key plantiffs and lawyers usually make out. So I want the ability to keep my options open.
There was talk a ways back when Mnuchin changed things, that there was a 5 billion amount put aside for lawsuits...wondering if this is what it was for. If it is this, you can calculate 5 billion accross all the freddie commons and JPS and the fannie jps. Even though I am currently unsure of the combined number of all those shares, Pay out based on that total would most likely be miniscule after lawyers and key plantifs extract their pay out.
False again, your opinion. Prove it Mr Fffacts
All true! And you're welcome.
That's a good question for that class action site link that patswil posted today. I own shares at 2 different companies, Vanguard and Fidelity, so received two class action flyers. Can I opt out with one? Hmmmm interesting proposition.
I would imagine they have a list of all holders and their shares and will be informing you, when or if you opt out, that all shares you own apply to the opt out. Automatically all your owned shares are opted in, so logically I would think opt out would be same. I'd verify through that site for sure! Please let me know!
If you have shares in different names (ownership) such as you and your wife, that would be a different story, I think.
955, since Fannie COMMONS are not called off in that flyer, none of it applies to Fannie common shareholders. That could change however if those involved allow a Fannie Common shareholder to become part of the Class group. I don't think that will happen because too much water under the bridge as far as this case has gone. A judge could mandate it, I guess, to mop up the whole thing at once? Fannie coomons not being involved is a huge loose end/oversight, which leads me to think something fishy is in the works.
JMHO, mostly
A legal definition is a legal definition. You can always interpret it the way YOU WANT at your own peril/risk.
DEFINITON SUCCESSOR IN INTEREST as specified for each of the
3 classes if you don't understand look it up. Google is amazing. Definition says nothing about those who purchase after the fact date. It's all about beneficiaries and estates, trusts.
You either own b4 Dec 7th 2021 or you are out. No one is going to create shares b4 this is settled! That would be dumb. That date is spec'd for a reason in the class action flyer. Those owning shares who were complaining of not getting a flyer bought all their shares AFTER that date. They are not being notified because they are out unless the courts change that date.
DEFINITION
By devise, descent or operation of law on the death of a joint tenant or tenant by the entirety;
To a relative resulting from the death of a borrower;
Spouse or children of the borrower become an owner of the property;
Resulting from a decree of a dissolution of marriage, legal separation agreement or an incidental property settlement agreement, by which the spouse of the borrower becomes the owner of the property; or
A transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property.
Good stuff Navy! Thanks for ferreting out all the good info.
Amen, trunk.
There are those who still believe in integrity and moral correctness, so we have an okay chance at a resolution. When or how that resolution appears is anyones guess. Keep the faith
You're ASSUMING a ton though.
Sandra Thompson, who you seem to be a fan of, just spoke to making sure GSE's are not released unless in sound safe condition. You don't get there by keeping unlawful monies or making any holder in this rich beyond the stars!
Successor in interest, full bullet points, didn't select/paste all on post this is replying too. Oops. Here's the full description:::
By devise, descent or operation of law on the death of a joint tenant or tenant by the entirety;
To a relative resulting from the death of a borrower;
Spouse or children of the borrower become an owner of the property;
Resulting from a decree of a dissolution of marriage, legal separation agreement or an incidental property settlement agreement, by which the spouse of the borrower becomes the owner of the property;
or
A transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property.
See my post 716427 successor in interest does not mean what you think.
If you bought any Freddie common or prefs or Fannie prefs after Dec7, 2021, you are not part of the class action.
Been part of many class actions and shareholder of record dates are firm unless changed by the courts. It's to lock in an amount for settlement purposes if there is a settlement and judgement to compensate.
Yeah, another cruel head fake to shareholders, no doubt.
Anyone buying now is not in that class action either. Since shareholder of record date is specified.
Fffacts read, and I mean read the article. Fannie commons is not part of the class. YOU ARE WRONG!!!
Saying my statement was false was pure dumb move.
https://topclassactions.com/lawsuit-settlements/securities/fannie-mae-freddie-mac-face-three-newly-certified-classes-in-stock-profit-lawsuit/
From the article, maybe it will help you out?
The Fannie Preferred Class is represented by plaintiffs Joseph Cacciapalle and Barry P. Borodkin, the Freddie Preferred Class is also represented by Joseph Cacciapalle, and the Freddie Common Class is represented by plaintiffs Michelle M. Miller and Timothy J. Cassell.
Neither have you on anything, so False again.
Yeah....let's go with that.
Well...Yellens also been all over the media Yellen about freeing them. Lol
Not a peep from Q-tip.
There ya go! Yep. They like us right where we are. Easy to manipulate and under an umbrella of constantly changing HERA law, if you can call it that.
Randy, see my post 716161. I state my idea on what I may do.
Nope. Fannie COMMONS is not called off as part of the class. Only fannie JPS.
Yes you are reading correctly. So if you own only prefs or FMCC, you will be legally restrained. Not totally, but pretty severely.
Wiseman and GB both graduates of UofBS
Kicking around the idea of staying in this class action to see where it goes. Originally, I was going to remove myself, but since Fannie has not been made part of the class, I hold two cards since I own about 85k freddie and 115k fannie commons. Thinking maybe ride this class action, even though I'm a pretty firm believer everyone involved gets pissed on other than the plantiffs and plantiffs lawyers. My legal options, which this class action says will be closed, are still open and in force since I own the FNMA, which are not part of the class.
I foresee many selling Freddie commons later on and switching to fannie shares if indeed the class gets screwed on this, so that their legal opportunities are opened back up.
Something stinks about this, and we just are not aware of it yet....plans within plans? There maybe be some real ulterior motive for FNMA not being included? Maybe it's what is mostly owned by government crooks?
Can't wait to see how this pans out! Opinions?
Just checked my mail, you're correct. Received 2 notices. I think that's due to my having both FNMA and FMCC positions at both Vanguard and Fidelity.
That's a great question, so far the only reason specified on here is that no FNMA common holder is part of the core plantiffs group.
Which is odd.
Do you not understand how much is actually made, fabricated and intensive component of oil? Do you not realize the electric cars are oil intensive? The fertilizer you use is oil intensive, the shingles on you roof is oil intensive, the plastic spoons/knives/forks at your holiday bar-bQ are oil intensive, anything out there made of bent metal or plastic is oil intensive. And yes electric motors to move electric cars are oil intensive as are the required and necessary lubrication of parts.
Show me an electric car and charging station that was manufactured and installed with zero oil and I'll show you a Leprechaun. Lol
This is the problem! Many who sit and think about gas only and have zero manufacturing or industry knowledge think oil can disapear completely and the world will be perfect because the green new energy like pixie dust and unicorn farts will get us to nirvana.
How are those huge cargo container ships which use hundreds or thousands of gallons of diesel going to move all that weight? Giant windmill or solar panel array stretching 20 miles behind the ship? Lmao. What about planes? Jet fuel? Maybe make planes with windmills all over or the whole body out of solar panels. Problem though. Planes would need to be way bigger to carry the batteries required to power them. Bigger electric engines to move them. Not going happen.
Al Gore....Ha ha ha ha
You know what's funny....if you look back, when FNMA was created, it was created to help EVERYONE who worked hard to afford a mortgage because the banks were not stepping up and neither were the saving and loans (see savings and loan crisis). All the sudden the GSE'S morphed into social justice tools to provide anyone who was too lazy to work hard and save a down payment, so we end up with crap loads of subsidization at other mortgage holders expense (see various fees). If inequality was happening in mortgage lending, there are laws on the books for that. What's happening now is just plain socialism.
Our constitution says all men are created equal. It's your equal opportunity to succeed or to fail. Constantly backing societies failures is not building a strong society. Granted there are some who really need a hand, like handicapped or injured military.
There are way more reprecussions to Rship than just those you specify.
30 yr would go bye bye along with any affirmative action handouts, banks would have made sure of this. Banks do not base loans or savings on affirmative action. Banks would also be charging 8-12% for mortgages, or more because they dispise risking any of their capital, earnings.
The GSE bonds, debt that China and other countries held would have to be settled, putting treasury and government in a huge bind.
BTW, most started jumping in the JPS way back when Obama was mentioning receivership bankruptcy numerous times. The thought then was capital structure, prefs get par, cause they were beat down anywhere from 1/2 to 1/3 of par. It's why so many hedge funds jumped in. But as you can see, the scenario changed.
Word is he had butterscotch with cornpop, then they went for an 18 wheeler ride around the White House.
FOFreddie, the opt out deadline is 04-23, so final tally is yet unknown.
Lol, ha ha yeah, there's that also.
Why would he do that? I think the opposite. He will have more control over the GSE'S as long as his FHFA head Thompson is in charge of them. If he releases into an environment where Senate and Congress are majority Republican, that majority will stop him dead in his tracks from doing anything with the GSE'S, also, that majority would almost assuredly start putting in place legislation for the GSE'S to be approved not by Biden but whoever is next president.
But then again....I digress, you could very well be right. Biden has a current reputation for not doing anything logistically smart.
That should be sent to the Senate and maybe Congress, asking for an explanation on WTF is this? It's criminal how none of the news media are not addressing this situation.