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Happened this past fall. Bought for $500
FMCC over 10% FNMA over 6%
143.53x !
Check updated Institutional holdings....its go time
Great to hear Lumpina :) I am doing well ty, was a pretty good year. Def looking forward to starting a new chapter W/O FNMA haha Always a brighter tomorrow!
True words CBS. Saga finally coming to an end....a very very very long awaited end
Getting close! Hope your enjoying your retirement Lumpina, cheers ????
Treasury Secretary S.Mnuchin,
Fannie Mae and Freddie Mac need to be released from conservatorship immediately. The forced taxpayer funded bail out has been more than repaid including approximately $65,000,000,000 over and above any funding obligations the government assumed to include taxpayer risk.
This is a higher repayment and the highest gross net profit received from any bail-out during the financial crisis.
FNMA/FMCC have therefore repaid the government and enriched the taxpayer more than every other bail-out combined!!
Having personally purchasing a troubled bank yourself- taking the necessary steps to rehabilitate and return it to profitability - you certainly understand systemic risk and how important the next steps are.
It would be detrimental it to simply do-nothing and or worse - continue to sweep the entire net worth as the preceding President has done.
Recapitalize and release Fannie Mae and Freddie Mac. You know better than most, this must be done to safeguard the American economy and preserve home ownership into the future.
Thank you for your time on this extremely important matter.
Respectfully,
Name (retired law enforcement) not a hedge fund....
look at FNMFO- vanished
Fidelity/TDAmeritrade-2 depts/Ameriprise home office ....Finally reached out to Brad at FNMA investor relations - could not tell me. No Bloomberg, nothing on the greys.....nothing anywhere
That preferred dropped from 23500 to 500 and flatlined less than 2 weeks ago. I've been watching it for 6 years.
For fun- I've had an order in for 1 share the past 5 trading days.
converted?
Cancelled?
Question: what happened w FNMFO-?
I see the same dots 955, nice.
Absolutely beautiful/Precedent setting case. Looking forward to watching the dominos fall!
Thanks, good to see your here also, wild ride coming -)
I've been good thanks, glad to hear about your January retirement! I was thinking you'd be pretty close!
I've been watching the board here and there, enjoying seeing all the new names and reading fresh viewpoints and opinions.
It was nice to see all the fresh perspective
Felt good to take a break from posing....I thought I was starting to get carpal tunnel syndrome LOL
I woke up today and did the Trumpty dance..... FNMA?????
Hope you've been doing well, IL Padrino! Stateside & retired?
Hello everyone, cheers to a great year for us all
Congrats . Long time coming
TY Dollars1
Looks like it's rescheduled until the 27th as I'm sure you already know
Hearing entitled “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System”
Tuesday, March 17, 2015 10:00 AM
Appreciate the reminder
TY FNMA/FMCC longs for making this learning process immeasurably insightful, educational and most of all entertaining. Just LOOK at the FNMA/FMCC nation we helped create! Truly amazing what has been accomplished these last few years. I am no longer wondering smile
GL to all, FNMA/FMCC is a value investment so buy the dips!
AW-signing off
TY FNMA longs for making this learning process immeasurably insightful, educational and most of all entertaining. Just LOOK at the FNMA nation we helped create! Truly amazing what has been accomplished these last few years. I am no longer wondering
GL to all, FNMA is a value investment so buy the dips!
AW-signing off
I shouldnt have butted in then, my bad.
That last paragraph looks like a takeaway from the obama speech in Phoenix just a month or two ago. Probably quoted heavily from it. The lending practices comment was as well.
http://www.whitehouse.gov/the-press-office/2015/01/08/remarks-president-housing-phoenix-az
"But I’ll never forget the day we bought our first place, a place of our own -- a condo, back in Chicago. And for us, and millions of Americans like us, buying a home has always been about more than owning a roof and four walls. It’s about investing in savings, and building a family, and planting roots in a community."
"And that’s why we had the Justice Department fight for buyers who were discriminated against or preyed upon, and we won a settlement that awarded more money to victims in one year than in the previous 23 years combined. (Applause.) That’s why we worked with states to force big banks to repay more than $50 billion to more than 1.5 million borrowers who had been treated wrongly -- and that was the largest lending settlement in history. (Applause.)
"And that’s why I’ve called on Congress to wind down the government-backed companies known as Fannie Mae and Freddie Mac."
LMAO
He did. LOL. The honorable senator from ......wait
Joe Biden's brother builds affordable housing in Iraq. Probably needs the cash. http://nypost.com/2012/10/23/crony-capitalism-joe-bidens-brother/
Coincidentally just after the sweep
Crony capitalism & Joe Biden’s brother
By Charles GasparinoOctober 23, 2012 | 4:00am
James Biden isn’t a big name in the business of residential housing development, so what exactly qualifies him to work at a construction company and share in the winnings of a $1.5 billion project to build affordable homes in Iraq?
If you said it has something to do with his last name, the one shared by his older brother Vice President Joe Biden, you wouldn’t be far off. At least that’s the guess of some Wall Street analysts who cover the Marlton, NJ-based company Hill International and think they’ve seen yet another sordid tale of crony capitalism.
Hill has been around for decades; its main business is managing construction projects in the Middle East and here in America. It’s built a good reputation over the years, as has the father-son team who run it, Irv and David Richter.
But the bursting of the real-estate bubble took its toll; Hill shares are down 80 percent since 2008. Since 2011, the company has reported losses. Its Middle East business has also been stymied by the Arab Spring uprisings; in Libya alone, Hill is out $60 million in payments that it’s still trying to recover.
But it got some good news not long after its housing subsidiary hired James Biden as an executive vice president in late 2010. Just six months later, Hill won one of its biggest contracts ever, a $1.5 billion deal to build at least 100,000 affordable homes in Iraq.
A good deal for Hill, a relative newcomer to building homes — and for James Biden, who as one partner will get a good share of that $1.5 billion.
The deal is contingent on the Iraqi government providing financing, which it has yet to do, but Hill execs tell analysts the money could start flowing by the end of the year. That’s when everyone involved, James Biden included, will start collecting on tens of millions of dollars in profits.
One friend of James Biden’s estimates his net worth at around $7 million, yet he seems to have a remarkable lack of concrete business experience. An attorney who’s done work for him called him a “serial entrepreneur,” but didn’t name the startups he was responsible for.
Hill chief Irv Richter called Biden a “good salesman” and the firm’s Web site describes “40 years of experience dealing with principals in business, political, legal and financial circles across the nation and internationally.”
(James Biden also had a relatively short and somewhat controversial run as a co-owner of a hedge-fund company with Joe’s son Hunter. The company, as it turns out, was marketed by companies controlled by now convicted Ponzi schemer Allen Stanford. Neither Biden was charged, but the fund company is now winding down its operations.)
No, James Biden’s obvious value comes from his connection to the Obama administration. Richter assures me that James’ ties to Joe played no part in landing the plum assignment in Iraq or any of the other government-related jobs Hill has received recently.
Really? Connect these dots: Both the Iraqi government and the Obama State Department played roles in helping Hill win the assignment, Richter concedes. And Joe Biden is President Obama’s point man on Iraq — a country where people expect politicians’ families to be “taken care of.”
Also key is TRAC Development, a South Korean firm that won the master contract for the Iraq work. And — huh! — James Biden and his wife were guests of President Obama and Michelle for last October’s state dinner honoring the president of South Korea, Lee Myung-bak.
All one big coincidence?
Well, Richter insists that, while Biden’s name and connections might open doors when government business is on the line, that doesn’t guarantee success. “If he had the name Obama, he would get in the door easier,” Richter joked.
During this month’s vice-presidential debate, Joe Biden told Americans to just ignore all that stimulus money that went to administration-connected failures like Solyndra. Crony capitalism, he insisted, hardly exists with Joe Biden and Barack Obama watching the store.
Maybe that’s why the veep, after making that dopey statement, was laughing so much that night.
Fox business around 3:30 pm EST
@30lostdogs: Be ready Charlie, Bove is no troll like FHFA and Obama who you keep sticking up for.
@OutnumberedFNC
@CGasparino #fanniegate
#FannieGate101
Also my opinion. "He's taking us down because he is another illuminati and is working for the elite that are trying to create the NWO."
I'll repeat, obama is illuminati. I agree he is not smart enough but Harvard has ties I'm sure.
Was just about to post that. Should be interesting ...... For us trolls
Bove vs Gasparino subject FNMA. Be there or be along4zride
Tx D1, Let's see if he has changed his views at all. He has made what looks like both positive and negative statements in the past. Gave a shout out to CW/JC but this was last summer so hopefully his hopes of legislation are gone by now.
"September marked the sixth anniversary of Fannie Mae and Freddie Mac entering conservatorship. As I have said before, an enduring conservatorship is unsustainable and undesirable for everyone. It serves neither creditworthy consumers, many of whom are ready to own a home but cannot obtain a loan, nor taxpayers, who remain on the hook in the event of future housing downturns. We owe the American people better.
The critical flaws in the legacy system that allowed private shareholders to reap unlimited profits while leaving taxpayers shouldering enormous losses cannot be fixed by a regulator or conservator. They require congressional action. This last point cannot be overstated, so let me repeat: The only way to responsibly end the conservatorship is through legislation that puts in place a sustainable housing finance system that protects taxpayers and brings stability and certainty back to the mortgage market.
Over the past two years, we have worked very hard to find a bipartisan path to comprehensive housing finance reform consistent with the President’s principles, and while we have not yet reached the finish line, we have made substantial progress that should not be forgotten. Among other points of broad consensus, these include:
· Winding down of Fannie Mae and Freddie Mac;
· Preserving the 30-year fixed-rate mortgage and a liquid TBA market;
· A central role for private capital in taking first-loss mortgage credit risk;
· The extension of an explicit and actuarially-priced government catastrophic guarantee on qualified mortgage-backed securities;
· The enhancement of secondary market liquidity through a single securitization platform and security;
· The separation of the system’s securitization infrastructure from private credit risk-taking firms;
· The establishment of a countercyclical role for government, and;
· A mechanism to ensure broad and affordable access to the system.
This bipartisan agreement was embodied in the thoughtful legislation from Senate Banking Committee Chairman Johnson and Ranking Member Crapo, along with Senators Warner, Corker, and other Committee members, that was voted out of Committee. This is real progress; and it demonstrates that the Johnson-Crapo majority did not forge its consensus by merely picking off low-hanging fruit. Resolving many of the issues required principled compromise and the maintenance of good will and open lines of communication among members on both sides of the aisle. But there is obviously more work to be done in the next Congress"
http://www.treasury.gov/press-center/press-releases/Pages/jl9713.aspx
Gov strategy at its finest, if they keep repeating things over and over the odds of a different outcome will increase.
Yeah NO
Is this possible? Low volume because shorts are scared to take further short positions because every time they try to actively short the shares get eaten up by money managers and retail buyers and whoever else, putting shorts in a deeper and deeper defensive hole while pps moves maybe .10 down for moment, stays where it is or even rises a little?
TIA, just looking for a reasonable explanation to the anemic volume.
Collingwood Group: recap release needed
http://finance.yahoo.com/news/collingwood-group-mortgage-outlook-report-120141056.html
Survey Finds Mortgage Industry Worried Private Mortgage Capital Will Dry Up
The Collingwood Group LLC
1 hour ago
GlobeNewswire
????
WASHINGTON DC, March 2, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Can't live with them, can't live without them. That sums up the sentiment of leading mortgage and housing industry professionals when it comes to Fannie Mae and Freddie Mac, in the latest Collingwood Group Mortgage Industry Outlook Report.
Each month The Collingwood Group, a Washington, DC based business advisory firm, in partnership with The Five Star Institute surveys top mortgage industry leaders in an effort to assess the state of their businesses, current events in the industry, and what it all means for home buyers and sellers.
In the March survey, mortgage industry professionals say Fannie Mae and Freddie Mac should be initiating more risk sharing transactions to spur the private securitization market, and they are worried that keeping Fannie and Freddie in conservatorship is causing private capital to abandon the mortgage lending space.
But, they say it is highly unlikely that GSE reform will occur during the Obama administration. 94% of survey respondents indicate that housing finance reform is not a priority for the White House and as long as Fannie Mae and Freddie Mac are returning steady profits to the Treasury, there will be no incentive to reform them. As a result, Collingwood does not expect GSE reform to occur until well after 2017.
The biggest risk associated with keeping Fannie Mae and Freddie Mac as-is, according to survey respondents, is private capital abandoning the space. In contrast, others indicated that the biggest risk is the government using the GSEs as a political instrument or as a piggy bank used to fund budget shortfalls.
Respondents say it is important to have sufficient reserve capital and/or private mortgage insurance in place to protect taxpayers from the next business cycle downturn. Some suggested combining Fannie Mae and Freddie Mac into a single entity or moving to a single security.
The vast majority (85%) of survey respondents agree that Fannie Mae and Freddie Mac should be doing more risk sharing transactions. These transactions allow private market participants to invest in the credit performance of Fannie Mae and Freddie Mac's single-family book of business. Most survey respondents indicated that they support these transactions because they help fuel the private securitization market and limit taxpayer risk while the GSEs are in conservatorship.
As for what Congress can do to improve the housing market, fewer than 50% of respondents selected "Repeal Dodd-Frank" or "Abolish the CFPB." Instead, the comments submitted clearly indicate that these industry insiders prefer a tempered approach with reasonable modifications to these two reactionary reform measures stemming from the financial crisis. Many respondents stated that the Dodd-Frank Act should be revised to remove barriers to innovation and to reduce the cost of manufacturing a mortgage.
Similarly, respondents were pragmatic about the unlikely prospect of shuttering the CFPB and instead suggested that Congress consider amending the structure of the CFPB so that there is more oversight and accountability. Respondents also stated that at a minimum, the CFPB should provide greater transparency in the exam process and in the results of an exam.
Data for this survey was gathered from February 10-19, 2015. Online questionnaires were distributed via email to approximately 46,400 mortgage industry professionals, including lenders, originators and servicers. Questionnaires were also shared via real estate groups on social media. As of February 19, 2015, 132 people responded. In our opinion, the survey results are in line with current mortgage industry perceptions.
Download the full survey here: http://info.collingwoodllc.com/mortgageindustryoutlook_mar_15
About the Collingwood Group
The Collingwood Group is a Washington, D.C.-based business advisory firm. It was founded on a single idea: To help clients grow and protect their businesses."
The team includes the former head of FHA, the former head of Ginnie Mae, and additional partners who have held senior leadership positions in HUD, Fannie Mae, Freddie Mac, and other major financial services organizations. Clients range from the Fortune 50 to small and mid-size businesses, with a strong concentration in financial services and technologies.
Services include: identifying and securing business opportunities with the federal government and the GSEs; helping financial services companies comply with, interpret and operate effectively within the ever-changing regulatory environment; and working directly with CEOs and boards of directors to help increase market share and profitability.
Contact: lgiserman(at)collingwoodllc(dot)com
This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2015/03/prweb12551039.htm
Collingwood Group: recap release needed
http://finance.yahoo.com/news/collingwood-group-mortgage-outlook-report-120141056.html
Survey Finds Mortgage Industry Worried Private Mortgage Capital Will Dry Up
The Collingwood Group LLC
1 hour ago
GlobeNewswire
????
WASHINGTON DC, March 2, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Can't live with them, can't live without them. That sums up the sentiment of leading mortgage and housing industry professionals when it comes to Fannie Mae and Freddie Mac, in the latest Collingwood Group Mortgage Industry Outlook Report.
Each month The Collingwood Group, a Washington, DC based business advisory firm, in partnership with The Five Star Institute surveys top mortgage industry leaders in an effort to assess the state of their businesses, current events in the industry, and what it all means for home buyers and sellers.
In the March survey, mortgage industry professionals say Fannie Mae and Freddie Mac should be initiating more risk sharing transactions to spur the private securitization market, and they are worried that keeping Fannie and Freddie in conservatorship is causing private capital to abandon the mortgage lending space.
But, they say it is highly unlikely that GSE reform will occur during the Obama administration. 94% of survey respondents indicate that housing finance reform is not a priority for the White House and as long as Fannie Mae and Freddie Mac are returning steady profits to the Treasury, there will be no incentive to reform them. As a result, Collingwood does not expect GSE reform to occur until well after 2017.
The biggest risk associated with keeping Fannie Mae and Freddie Mac as-is, according to survey respondents, is private capital abandoning the space. In contrast, others indicated that the biggest risk is the government using the GSEs as a political instrument or as a piggy bank used to fund budget shortfalls.
Respondents say it is important to have sufficient reserve capital and/or private mortgage insurance in place to protect taxpayers from the next business cycle downturn. Some suggested combining Fannie Mae and Freddie Mac into a single entity or moving to a single security.
The vast majority (85%) of survey respondents agree that Fannie Mae and Freddie Mac should be doing more risk sharing transactions. These transactions allow private market participants to invest in the credit performance of Fannie Mae and Freddie Mac's single-family book of business. Most survey respondents indicated that they support these transactions because they help fuel the private securitization market and limit taxpayer risk while the GSEs are in conservatorship.
As for what Congress can do to improve the housing market, fewer than 50% of respondents selected "Repeal Dodd-Frank" or "Abolish the CFPB." Instead, the comments submitted clearly indicate that these industry insiders prefer a tempered approach with reasonable modifications to these two reactionary reform measures stemming from the financial crisis. Many respondents stated that the Dodd-Frank Act should be revised to remove barriers to innovation and to reduce the cost of manufacturing a mortgage.
Similarly, respondents were pragmatic about the unlikely prospect of shuttering the CFPB and instead suggested that Congress consider amending the structure of the CFPB so that there is more oversight and accountability. Respondents also stated that at a minimum, the CFPB should provide greater transparency in the exam process and in the results of an exam.
Data for this survey was gathered from February 10-19, 2015. Online questionnaires were distributed via email to approximately 46,400 mortgage industry professionals, including lenders, originators and servicers. Questionnaires were also shared via real estate groups on social media. As of February 19, 2015, 132 people responded. In our opinion, the survey results are in line with current mortgage industry perceptions.
Download the full survey here: http://info.collingwoodllc.com/mortgageindustryoutlook_mar_15
About the Collingwood Group
The Collingwood Group is a Washington, D.C.-based business advisory firm. It was founded on a single idea: To help clients grow and protect their businesses."
The team includes the former head of FHA, the former head of Ginnie Mae, and additional partners who have held senior leadership positions in HUD, Fannie Mae, Freddie Mac, and other major financial services organizations. Clients range from the Fortune 50 to small and mid-size businesses, with a strong concentration in financial services and technologies.
Services include: identifying and securing business opportunities with the federal government and the GSEs; helping financial services companies comply with, interpret and operate effectively within the ever-changing regulatory environment; and working directly with CEOs and boards of directors to help increase market share and profitability.
Contact: lgiserman(at)collingwoodllc(dot)com
This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2015/03/prweb12551039.htm
No GSE talk, just babbling about other issues
Gasparino, fox business @ 8:30
I just assumed the gag order covered everyone as a whole, including employees, CEO and BOD along with any type of lobbying. The "cone of silence".
About the same as me I see. You never did get back to me about FNMAI from our DC conversation by the way. Still debating which other pfd to add.
2/20/15 is the last update listed. I'm not sure if it existed before that date tho.