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The idea of merging Fannie Freddie Ginnie is still relevant even if the article is 1.5 years old.
https://www.insidemortgagefinance.com/products/238178-international-monetary-fund-calls-for-a-fannie-freddie-merger
(very OLD NEWS - Sept 8, 2017 .. )
International Monetary Fund Calls For a Fannie, Freddie Merger
September 8, 2017
Some lawyers in DC charge $1,200 an hour. I know a lot of that goes to the company for rent etc, but just shows how pricey things are there.
Either that cap needs to be cancelled or the execs need huge share options.
GasBag is referring to Pocahauntas NEW legislation to STOP
loopholes giving Fannie/Freddie CEO's Pay above $600,000
cap that Congress passed ....
Can't do a recap without first cancelling the NWS
Recap $120B will be the next step and cancel SPSPA.
Gets rid of the Senior P
Notice the word ‘Jump-start’ used in the WSJ article...
https://www.google.com/amp/s/www.wsj.com/amp/articles/trump-officials-stress-urgency-in-fannie-freddie-revamp-11555350443
Now what was it that Bob Corker was trying to stop with Jump-start GSE...?
Read the Re-Tweets
“I enter this job with a sense of urgency...we must not let this opportunity for reform pass.” – Dr. Mark Calabria, FHFA Director pic.twitter.com/90Ij4aH8wB
— FHFA (@FHFA) April 15, 2019
Where are you getting that? I don't see it on fhfa
Mark Calabria midweek was sworn in as the permanent director of the
FHFA, ushering in a new era of supervision – and more importantly,
conservatorship of the two mortgage giants that stir the straw of
mortgage banking.
A second version of his swearing-in will take place Monday morning at
the agency’s headquarters in downtown Washington. For most GSE
watchers the obvious question is:
Okay, what’s his first move as conservator ?
Let’s face it: the supervision part (in comparison) is easy.
Fannie Mae and Freddie Mac continue to make money hand-over-fist
with no end in sight. And that’s a good thing. Right ?...
Excellent News
Growth Fund of America - FNMA, FMCC holdings 3/31/19
FNMA = 77,989,064 - up 48.2% from 12/31/18
FMCC = 91,929,599 - up 5.6% from 12/31/18
As of 3/31/19:
FNMA holdings = $218,369,379
FMCC holdings = $247,290,621
https://www.americanfunds.com/individual/investments/quarterlyholdings/agthx
Now we have our timeline for the FINAL capital model - it's mid-august.
It's good news, even if we'd like it sooner.
Does not make sense to continue the NWS while they're working on the model to build capital.
“Clearly we’re working on the capital model at FHFA.
We hope by late July, middle of August, to have the
capital rule completed,”
Joseph Otting recently (while still acting FHFA director)
told a GMU law school audience —
getting stockholders’ tongues wagging
“Clearly we’re working on the capital model at FHFA. We hope by late July, middle of August, to have the capital rule completed,” Joseph Otting recently (while still acting FHFA director) told a GMU law school audience—getting stockholders’ tongues wagging https://t.co/p8jBXdIpYa
— InMortgageFinance (@IMFpubs) April 11, 2019
Sickening.
Take Calabria's picture to get it on the About Us Leadership page with bio and give him an access card.
Give him the keys to his office.
What is the holdup?
Calabria said in his senate hearing that he recused himself from Otting and Mnuchin's reform plan.
Otting said there was a "reform plan" already "signed off" by
POTUS, Treasury and Mark Calabria ... maybe Calabria's 1st offical act ?
Looks to me like accounts are set up to close out Senior Preferred & Warrants
HOLY SMOKES! Senior Preferred & Warrants Gonzo!
Go FNMA & FMCC! $$$$$
https://shared-assets.adobe.com/link/3f7be652-5089-4e1f-5e25-f535f4d98a1b
Look in here for accounts that prove that the feds have closed or plan to close accounts for senior p stocks and c stock warrants.
https://shared-assets.adobe.com/link/3f7be652-5089-4e1f-5e25-f535f4d98a1b
What was leaked to Eisner last night?
Yes. Pence swore in Calabria this evening
Guess who is advertising on ihub!
Thanks Doc
Today I Got The Fannie Mae Return Call !!
From Fannie Mae Investors Relation Officer !
I did have principally 3 Questions I did like to get answered and as following Fannie Mae answered them :
1. Has the NWS to end of March been paid ?: Yes Fannie Mae paid it at March 29, 20019 !
Is there any decision to hear, that this is maybe the last time to pay it ?: Any such decision they could not yet confirm or at least have not yet any such Order from Gov !
2. How is the Relation between Fannie Mae and Gov ? Is it Dictatorial or more Partners like where mutually Ideas, Experiences and Proposals could been exchanged and discussed or negotiated ?: It's Partners like where they Exchange itself mutually about Experiences, Etc., all I mentioned and this nearly at a Daily Base by contacting each other's !
Like this I proposed to publish once about the Good Relations they can have with the Gov, because this is also important for the Investors to know about ?: Fannie Mae likes to think about it !
3. Is there any attempt by Fannie Mae to Re-List possibly to NASDAQ where since they doing So Good By The Numbers, is no reason to stay longer as necessary at OTC which has not a so good reputation as we all know and this should principally also under Conservatorship already been possible?: There is not any such attempt at Fannie Mae, because it was the Gov which delisted them to OTC !
But since Fannie May has a Good Partner Like Relation with the Gov, then Fannie May could also propose this as from its side and now by the New Mr. Calabria in place this possibly could even been appreciated ?: This is something to think about !
End of Conversation
Happy FNMA Investing
PS: I will not answer more than above already is explained. Anybody can make out of it what ever like !
Issuing warrants is legal. Executing warrants at $0.00001 is illegal, self serving, and won't be executed.
Hi camaro4me - Sorry, it need some corrections. Issuing Warrants is not illegal and very common at any Financial Credits Relations by any Public Traded Companies. The Warrants as a precaution only to backup any Credits or Credit-Lines, nothing else.
The warrants will never be executed because they are illegal. Anyone can write to the SEC to find that out.
Warrants are Rights for Shares, but Not Issued as Outstanding Real Shares and if this should be counted as Shares the ideologies go apart !
To become Real Shares, Fannie or Freddie by Orders to its Transfer Agents and SEC Registration would need to do this, but it's not done yet and since All Credits More Than Paid, it will never been done.
Tomorrow
What’s TM?
Great idea. Everybody wins.
SEO leads to a large asymmetric information cost to the existing common shareholders. JPS has the higher priority to be paid. Thus, issuing new JPS can be less costly (pecking order theory) to the existing common shareholders. To sweeten the deal, Treasury can even cancel all SPS and make the newly issued JPS more senior than the current JPS.
It's in the 10k as catbirdseat pointed out the page number and number of shares. Fnma bought back shares. I didn't look at fmcc
150,675,136 treasury stock is the number of shares fnma bought back as of December 31, 2018.
IMO they have continued to buy-back their own stock since then.
Selling their own treasury stock upon uplist is just one way they could recapitalize.
See page 192 “Summary of Consolidated Balance Sheets”
Fannie Mae:
Cash and cash equivalents $ 25.6 BILLION! CASH!
Common stock, no par value, no maximum authorization—1,308,762,703 shares issued and 1,158,087,567 shares outstanding.
Treasury stock, at cost, 150,675,136 shares (7,400). THIS IS STOCK THE COMPANY BOUGHT BACK OFF THE MARKET.
Link does not work
OTCMKTS:FNMA - Federal National Mortgage Association Stock Price, News, & Analysis
https://www.marketbeat.com/stocks/OTCMKTS/FNMA/
What are we missing?
https://www.marketbeat.com/stocks/OTCMKTS/FNMA/
Really???
Fannie's last annual report: "As of January 31, 2019
RESOLUTION ON PROTECTING TAXPAYERS BY RESTORING SAFETY AND
SOUNDNESS TO GOVERNMENT-SPONSORED ENTERPRISES
WHEREAS, Housing remains the single largest asset for most American families, and each year
America’s housing sector (comprised of housing services and residential investment) contributes
over 15% to U.S. gross domestic product;
WHEREAS, The United States Congress has previously enacted legislation to help make
homeownership more affordable and accessible for qualified homebuyers by improving secondary
loan market liquidity;
WHEREAS, For decades, two Government-Sponsored Enterprises – Fannie Mae and its smaller
sibling, Freddie Mac – have made home ownership possible by providing trillions of dollars in
mortgage financing to America’s housing market, enabling millions of families to buy, refinance
or rent homes;
WHEREAS, For decades, Fannie Mae and Freddie Mac have fulfilled their historic role of
providing the mortgage market with adequate levels of liquidity at all times, enabling the uniquely
American and highly popular 30-year fixed rate mortgage to exist;
WHEREAS, For decades, Fannie Mae and Freddie Mac have been privately owned, publicly
traded mortgage insurance companies providing enormous benefits to America’s housing market
without costing taxpayers a penny;
WHEREAS, Since 2008, Fannie Mae and Freddie Mac have been held captive in a perpetual
federal conservatorship that has hamstrung their ability to help communities gain access to
homeownership;
WHEREAS, Misguided policies initiated by the Obama Administration triggered a dramatic
decline in America’s homeownership rate, which in 2016 hovered near a 50-year low, and fueled
a serious rental affordability crisis;
WHEREAS, In 2012, the Obama Administration attempted to nationalize Fannie Mae and Freddie
Mac by unilaterally imposing terms that would render the companies permanent wards of the state;
Republican
National
Committee
Counsel’s Office
WHEREAS, The Obama Administration misused Fannie Mae and Freddie Mac as an illegal
piggybank to advance its domestic policy agenda, unlawfully usurping over $130 billion from both
companies to (i) avoid earnest negotiations with congressional Republicans on the debt ceiling,
(ii) support administration prerogatives without seeking congressional authorization, and (iii)
artificially reducing the federal budget deficit to create a false “legacy of fiscal responsibility”;
Whereas, Despite their enormous profitability over the last six years, Fannie Mae and Freddie
Mac’s capital reserves are scheduled to be entirely confiscated at the end of 2017, which will leave
two of the largest insurance companies in the United States without any capital buffer to protect
taxpayers and support the housing market;
WHEREAS, The Community Home Lenders Association, Community Mortgage Lenders of
America, Independent Community Bankers of America, Leading Builders of America, National
Association of Realtors, and other organizations have all publicly expressed concerns about the
scheduled elimination of capital reserves held by Fannie Mae and Freddie Mac, and the associated
negative ramifications for our economy;
WHEREAS, By prolonging Fannie Mae and Freddie Mac’s current state of limbo, the federal
government is fostering continued market uncertainty, unnecessarily exposing taxpayers to
financial risks, and exacerbating our Nation’s housing problems; and
THEREFORE, BE IT:
RESOLVED, The Republican National Committee recognizes the longstanding economic
benefits of a robust housing sector as well as the importance of promoting responsible
homeownership and preserving the 30-year fixed rate mortgage;
RESOLVED, The Republican National Committee recognizes that no financial institution in the
United States can safely operate without adequate capital, and that taxpayers will not be
sufficiently protected until Fannie Mae and Freddie Mac are permitted to rebuild equity capital;
RESOLVED, The Republican National Committee recognizes that the United States Treasury has
recouped all of the money that it invested in Fannie Mae and Freddie during the 2008 financial
crisis, plus over $80 billion in profits to date, and that the Treasury can generate an estimated
$100 billion in additional cash profits by monetizing its warrants for 79.9% of each company’s
common stock;
RESOLVED, The Republican National Committee recognizes the sanctity of property rights in
America, and acknowledges the need to resolve the outstanding claims of Fannie Mae and Freddie
Mac shareholders in a manner that honors and respects the rule of law governing the rights of
corporate stockowners;
RESOLVED, The Republican National Committee calls upon our President, Members of
Congress, and Governors to protect taxpayers from future bailouts by supporting administrative
action that restores safety and soundness to Fannie Mae and Freddie Mac.
Agree Yanks
FNMA cash Dec 31, 2018 58,495,000,000
(imo rolled from off balance sheet to on balance sheet)
Misc. Stocks Options Warrants nothing
Common stock 687,000,000
(about half of the 1.2 billion previously outstanding)
Treasury stock -7,078,000
(treasury stock is not the US Treasury, it's FNMA's own stock
they bought back at a pps higher than today, hence the negative
amount)
They have a plan and are working it.
https://finance.yahoo.com/quote/FNMA/balance-sheet?p=FNMA
Trump told Mnuchin and Otting to come up with a plan to get FnF out of cship.
Calabria's job will be to work with congress to come up with legislation on housing reform.
Two different plans.
Calabria had better come out with a plan soon... recap needs to start yesterday if the market really does start slowing down..
Trend is lower for shorts.
Time to rock and roll.
FNMA shorts covered
https://otcshortreport.com/company/FNMA
Would be great to end a friday in the green.
Freddie BUYING - Fighting Back !!
Calabria to be director of FHFA
Cal. #87, Mark Anthony Calabria to be Director of the Federal Housing Finance Agency, post-cloture. https://t.co/SOmYJ3Dv4t
— U.S. Senate Updates (@SenateFloor) April 4, 2019
Calabria cloture
The #Senate invoked cloture on the nomination of Mark Calabria to be director of the @FHFA on a party line vote of 53-46 with Sen Harris the lone absentee.
— Senate Press Gallery (@SenatePress) April 4, 2019
There are now up to two hours of debate on the nomination.