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I never realized, tx for that post. He changed a LOT more than I realized.
The President Executive Order 13526
Classified National Security Information Memorandum
http://www.archives.gov/isoo/policy-documents/cnsi-eo.html
I can only imagine
That was a big deal back then. Normal course of business for the current DOJ Obama admin. See the following :
"and RR had Iran Contra where he sold weapons against a specific Congressional ACT and then funded guerillas in a second nation against specific Congressional Law"
Can you say EXECUTIVE PRIVELEGE?
http://www.judicialwatch.org/blog/2014/10/obama-asserts-fast-furious-executive-privilege-claim-holders-wife-2/
Obama is illuminati
We come armed with the statute your honor......
HERA 2008 "REQUIRES" repayment and keeping FNMA private shareholder owned:
The financial agreements between Fannie/Freddie and the Department of Treasury to enable repayment.
Also, the Preferred Stock Purchase Agreement Stock Certificates between Fannie/Freddie and the US Treasury provides for the option for repayment.
The following is the section in HERA 2008 that discusses the repayment requirement:
“HOUSING AND ECONOMIC RECOVERY ACT OF 2008
REGULATED ENTITIES BY SECRETARY OF TREASURY.
(a) FANNIE MAE.—Section 304 of the Federal National Mortgage Association Charter Act (12 U.S.C. 1719) is amended by adding at the end the following new subsection:
‘‘(g) TEMPORARY AUTHORITY OF TREASURY TO PURCHASE OBLIGATIONS AND SECURITIES; CONDITIONS.—
‘‘(1) AUTHORITY TO PURCHASE.—
‘‘(A) GENERAL AUTHORITY.—In addition to the authority under subsection (C) of this section, the Secretary of the Treasury is authorized to purchase any obligations and other securities issued by the corporation under any section of this Act, on such terms and conditions as the Secretary may determine and in such amounts as the Secretary may determine. Nothing in this subsection requires the corporation to issue obligations or securities to the Secretary without mutual agreement between the Secretary and the corporation. Nothing in this subsection permits or authorizes the Secretary, without the agreement of the corporation, to engage in open market purchases of the common securities of the corporation.
‘‘(B) EMERGENCY DETERMINATION REQUIRED.—In connection with any use of this authority, the Secretary must determine that such actions are necessary to—
‘‘(i) provide stability to the financial markets;
‘‘(ii) prevent disruptions in the availability of mortgage finance; and ‘‘(iii) protect the taxpayer.
‘‘(C) CONSIDERATIONS.—To protect the taxpayers, the Secretary of the Treasury shall take into consideration the following in connection with exercising the authority contained in this paragraph:
‘‘(i) The need for preferences or priorities regarding payments to the Government.
‘‘(ii) Limits on maturity or disposition of obligations or securities to be purchased.
‘‘(iii) The corporation’s plan for the orderly resumption of private market funding or capital market access.
‘‘(iv) The probability of the corporation fulfilling the terms of any such obligation or other security, including repayment.
‘‘(v) The need to maintain the corporation’s status as a private shareholder-owned company.
‘‘(vi) Restrictions on the use of corporation resources, including limitations on the payment of dividends and executive compensation and any such other terms and conditions as appropriate for those purposes.
http://www.gpo.gov/fdsys/pkg/PLAW-110publ289/pdf/PLAW-110publ289.pdf
Tx D1 appreciate it. There will probably be some interesting stuff thrown around, I enjoy watching these way too much.
Ps. I've given up trying to figure out the pm switch on the app. Apparently it is always on lol
That is probably the funniest sad thing I've read in weeks. Lol
Ty trunkmonk "Lerner- is a past president of the Council on Governmental Ethics Laws (COGEL)"
Not sure, are they?
Comment to FHFA: https://www.fhfa.gov/AboutUs/Contact/Pages/General-Questions-and-Comments.aspx
"Release FNMA from CONSERVATIVESHIP. It has become FRAUD and the FHFA looks
GUILTY OF THEFT.
Has anyone from FHFA been paying any attention to the lawsuits???
Is MWatt the next Louis Lerner?"
Comment to FHFA: https://www.fhfa.gov/AboutUs/Contact/Pages/General-Questions-and-Comments.aspx
"Release FNMA from CONSERVATIVESHIP. It has become FRAUD and the FHFA looks
GUILTY OF THEFT.
Has anyone from FHFA been paying any attention to the lawsuits???
Is MWatt the next Louis Lerner?"
Ha, sometimes a criminal is just a politician jack.
They do have that.
I had to look up what DRIP was, it's the first I've heard of it. You may be right and I sure hope you are.
http://www.dripadvice.com/fannie_mae_fnm_drip.html
FNMA Capital Adequacy Requirements:
The GSE Act establishes capital adequacy requirements. The statutory capital framework incorporates two different quantitative assessments of capital—a minimum capital requirement and a risk-based capital requirement. The minimum capital requirement is ratio-based, while the risk-based capital requirement is based on simulated stress test performance. The GSE Act requires us to maintain sufficient capital to meet both of these requirements in order to be classified as “adequately capitalized.” On October 9, 2008, however, FHFA announced that our existing statutory and FHFA-directed regulatory capital requirements will not be binding during the conservatorship. FHFA has directed us, during the time we are under conservatorship, to focus on managing to a positive net worth, provided that it is not inconsistent with our mission objectives.
FHFA has advised us that, because we are under conservatorship, we will not be subject to corrective action requirements that would ordinarily result from our receiving a capital classification of “undercapitalized.”
Minimum Capital Requirement. Under the GSE Act, we must maintain an amount of core capital that equals or exceeds our minimum capital requirement. The GSE Act defines core capital as the sum of the stated value of outstanding common stock (common stock less treasury stock), the stated value of outstanding non- cumulative perpetual preferred stock, paid-in capital and retained earnings, as determined in accordance with GAAP. The GSE Act sets our statutory minimum capital requirement equal to the sum of:
2.50% of on-balance sheet assets;
0.45% of the unpaid principal balance of outstanding Fannie Mae MBS held by third parties; and
0.45% of other off-balance sheet obligations, which may be adjusted by FHFA under certain circumstances.
FHFA retains authority under the GSE Act to raise the minimum capital requirement for any of our assets or activities, as necessary and appropriate to ensure our safe and sound operations. For information on the amounts of our core capital and our statutory minimum capital requirement as of December 31, 2009 and 2008, see “MD&A—Liquidity and Capital Management—Capital Management—Regulatory Capital.”
Risk-Based Capital Requirement. The GSE Act requires FHFA to establish risk-based capital requirements for Fannie Mae and Freddie Mac, to ensure that we operate in a safe and sound manner. Existing risk-based capital regulation ties our capital requirements to the risk in our book of business, as measured by a stress test model. The stress test simulates our financial performance over a ten-year period of severe economic conditions characterized by both extreme interest rate movements and high mortgage default rates. Simulation results indicate the amount of capital required to survive this prolonged period of economic stress without new business or active risk management action. In addition to this model-based amount, the risk-based capital requirement includes a 30% premium to cover unspecified management and operations risks.
Our total capital base is used to meet our risk-based capital requirement. The GSE Act defines total capital as the sum of our core capital plus the total allowance for loan losses and reserve for guaranty losses in connection with Fannie Mae MBS, less the specific loss allowance (that is, the allowance required on individually-impaired loans). Each quarter, our regulator runs a detailed profile of our book of business through the stress test simulation model. The model generates cash flows and financial statements to evaluate our risk and measure our capital adequacy during the ten-year stress horizon. FHFA has stated that it does not intend to report our risk-based capital level during the conservatorship.
Critical Capital Requirement. The GSE Act also establishes a critical capital requirement, which is the amount of core capital below which we would be classified as “critically undercapitalized.” Under the GSE Act, such classification is a discretionary ground for appointing a conservator or receiver. Our critical capital requirement is generally equal to the sum of:
1.25% of on-balance sheet assets;
0.25% of the unpaid principal balance of outstanding Fannie Mae MBS held by third parties; and
0.25% of other off-balance sheet obligations, which may be adjusted by the Director of FHFA under certain circumstances.
FHFA has stated that it does not intend to report our critical capital level during the conservatorship.
On January 12, 2010, FHFA (1) directed us, for loans backing Fannie Mae MBS held by third parties, to continue reporting our minimum capital requirements based on 0.45% of the unpaid principal balance and critical capital based on 0.25% of the unpaid principal balance, notwithstanding our adoption effective January 1, 2010 of new accounting standards that resulted in our recording on our consolidated balance sheet substantially all of the loans backing these Fannie Mae MBS, and (2) issued a regulatory interpretation stating that our minimum capital requirements are not automatically affected by the new accounting standards
Check this out: Did FNMA just start posting stock info again?
First one since DELIST?????
News
Fannie Mae provides access to stock announcements. This material is provided for your convenience and information only. Fannie Mae assumes no duty to confirm, update, or revise this information.
February 20, 2015
Fannie Mae Reports Net Income of $14.2 Billion and Comprehensive Income of $14.7 Billion for 2014
May 11, 2011
Mandatory Conversion of Series 2008-1
July 7, 2010
Fannie Mae Announces OTC Bulletin Board Symbols
June 16, 2010
Fannie Mae Notifies NYSE and Chicago Stock Exchange of Intention to Delist
http://www.fanniemae.com/portal/about-us/investor-relations/stock-information.html
Check this out: Did FNMA just start posting stock info again?
First one since DELIST?????
News
Fannie Mae provides access to stock announcements. This material is provided for your convenience and information only. Fannie Mae assumes no duty to confirm, update, or revise this information.
February 20, 2015
Fannie Mae Reports Net Income of $14.2 Billion and Comprehensive Income of $14.7 Billion for 2014
May 11, 2011
Mandatory Conversion of Series 2008-1
July 7, 2010
Fannie Mae Announces OTC Bulletin Board Symbols
June 16, 2010
Fannie Mae Notifies NYSE and Chicago Stock Exchange of Intention to Delist
http://www.fanniemae.com/portal/about-us/investor-relations/stock-information.html
Fannie Mae's Board of Directors is accessible at board@fanniemae.com.
Or, send your correspondence to:
Board of Directors
c/o Office of the Secretary of the Corporation
Mailstop: 1H 2S 05
3900 Wisconsin Avenue, NW
Washington, DC 20016-2892
Consumer Research & Analysis: GREAT info
Fannie Mae conducts and shares various types of research using our primary consumer data collected through the National Housing Survey and other methods to help support the housing market and lay the foundation for a better housing finance system.
Why are Young Adults Living with Their Parents and When Will They Move Out?
July 29, 2014
In this study, data from Fannie Mae's National Housing Survey examine the reasons why young adult children are living with their parents. The increase in adult children living with their parents has raised important questions regarding household formation and its impact on owning, renting, and the demand for new housing construction.
Learn more
Harvard University's Joint Center for Housing Studies (JCHS) Conducts Own-Rent Decision Research Using Fannie Mae National Housing Survey Data
May 2014
In May 2014, the Harvard University JCHS published a research paper that analyzes the role behavioral factors play in individual decisions about owning and renting a home in the United States. To produce the paper, the author leveraged data from Fannie Mae's National Housing Survey and was assisted by the company's Economic & Strategic Research Group.
Learn more
What Younger Renters Want and the Financial Constraints They See
May 6, 2014
Based on research from Fannie Mae's National Housing Survey, this study investigates what housing choices younger renters prefer and the financial constraints they see when deciding whether to own or rent.
Learn more
Why Haven't Nearly Half of Mortgage Borrowers Refinanced?
February 6, 2014
In this study, data from Fannie Mae's National Housing Survey provide insights into mortgage borrowers’ past refinancing behavior and future refinancing intent.
Learn more
http://www.fanniemae.com/portal/research-and-analysis/consumer-research-analysis.html
National Housing Survey Monthly Indicators: credit tightens
"Though larger lenders were more likely to report credit easing than tightening,2 overall when comparing credit standards with three years ago, 44 percent of lenders reported tighter standards, in particular among depository institutions (49 percent). “Lower DTI” and “Stricter other criteria such as documentation” are the most common changes cited by lenders (61 percent and 84 percent, respectively)."
http://www.fanniemae.com/portal/about-us/media/commentary/012615-huang.html?s_cid=huang012615
9% increase in over 5 years. I would say FNMA is a SIFI and still the only option almost 7 years post crisis.
"Following the housing boom years of the mid-2000s, private capital share of newly originated mortgage credit risk declined dramatically, reaching a low point in 2009. The share of mortgage originations with private capital standing in first-loss position exceeded 60 percent prior to the crisis period, but declined to a low of 21 percent following the crisis. However, since 2009, private capital investment has grown to stand in first-loss position for more than 30 percent10 of 2013 origination"
http://www.fanniemae.com/resources/file/research/datanotes/pdf/housing-insights-101414.pdf
I'll drink to that. Right now
Hang in there! Lol. This whole thing sucks and it's tough but justice will prevail. By the way, thank you for your service and what you have sacrificed to protect these United States. It is appreciated and I am hoping the rule of law and the constitution you so bravely protected ends up protecting you in return.
I agree with all of that. Hate is a strong word me I feel confident in using it in this context..... I hate Obama.
That said, you know as well as I do that he lies. He can say wind down all he wants just like every other word out of his mouth. Probably a lie.
The term wind down is unfortunately debatable so we HAVE to go off of their actions.
FNMA is big FHA is bigger and the ONLY win I can see is a release and recap. There just is NO other option.
Obama is a tool plain and simple IMO but that doesn't make him any less greedy or his cohorts or the republicans for that matter.
The only way big money flows to giv is release recap and execution of warrants if that is allowed. Hopefully the judicial system forces the issue which I am banking on.
I believe in actions, not words.
FNMA his increased market share.
There are a plethora of examples of FNMA increased presence in the mortgage market. End of story. I haven't been called an idiot in a long time. Refreshing.
So this is what being halted to uplist will be like....zzzz
"FED up"..... Exactly right.
Well I can tell you first hand that Gov employees do have a sense of entitlement and EXTREME job security. I myself fell victim to that thinking for a brief time. The exclusive club mentality would need to go before any real evaluations could take place otherwise the evaluations would just be business as usual. I can only speak to the DOJ umbrella and federal LE which is a different animal but the same premise.
Too important to be held accountable and wayyyyyyy too many layers of protection.
I would also add the same is true for state and local governments maybe to a slightly lesser extent but still there. NY being one of the most beurocratic gov installations in the country besides California. I can give 11 years of examples to that as well.
Squeezing ordinary citizens instead of too big for trial banks.
She is very outspoken and I love it. She doesn't quit either, every time she pounds the table.
That was great, common sense prevails. 187 bil is less than 225 bil
The gov keeps digging deeper complaining about FNMA turning over documents the gov executed priveledge over and probably wouldn't have turned over. That's my thinking and they are obviously barking up the wrong tree.
Then they argue FNMA who?? We don't control FNMA but can you judge?
CAPUANO ON FIRE
No one would solely blame the GSE's. Loved that the panel spread the blame around and wouldn't get narrowed down by the question.
The tone seems pretty even keeled so far. More like a fact finding which is different
Ok, here we go
Showing a blank screen still. Anything?
Exactly right lol. Possibly the best couple hours on the Internet today! It's going to be good, FNMA friendly witnesses has got to be a first so that'll be different
Well not much more needs to be said, all the prior post pretty much sum up this fictional ideologically toxic piece of trash disguised as paper and words. I wonder how long it would take isaakson to to figure out how to put that round peg into that square hole.....