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Meeting hasn't started yet
Safely recapped is different from totally recapped.
ZERO Divvies until the GSEs are SAFELY RECAPPED
to PROTECT the TAXPAYER - that is what Calabria WILL DO !
it's beyond simple COMMON Sense .. it's LOGICAL ...
Yep, lots of billions coming back to FnF via the contingency fund.
I head to read that twice to understand what big news that was.
NEWS! FHFA Issues Final Rule on Uniform Mortgage-Backed Security
https://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=FHFA-Issues-Final-Rule-on-Uniform-Mortgage-Backed-Security.aspx
“This rule demonstrates FHFA's commitment to the success of the UMBS, which will promote liquidity and efficiency in the secondary mortgage market," said FHFA Acting Director Joseph Otting.
The final rule becomes effective 60 days after publication in the Federal Register.
Yes, they are talking real solid business.
That fSOC vote is literally proof of a recap and release Because it directly addresses the Dodd Frank road block Basel III rule — $50 billion or more of assets.
They created Freddie Mac to pay for the Vietnam War.
In 1968 the government under Lyndon Johnson's changed the explicit to implicit due to budget reasons of the Vietnam war, the thinking behind this was, the explicit guarantee was costing money, so they needed to get rid of that, to save money for the Vietnam war, so they did just that, no more no less, but since the government is good in words they sold it to the people as “implicit guarantee” (which indeed is non-existing) meaning that FnF had NO guarantee from the government, but they figured in case they ever needed to be bailed out the government would almost certainly need to step in anyway, as it is a systemically important company (TBTF) https://www.housing-finance-network.org/index.php?id=318
so yes There is no such thing as an "implicit guarantee" but you can sell it that way..and if you talk about it long enough, everybody starts believing it.
Quote:
“In 1968 because of budget pressures from the Vietnam War Fannie Mae was moved off budget and set up as a private, government-sponsored enterprise (GSE). Consequently, Fannie Mae ceased to be the guarantor of government-insured mortgages, and that responsibility was transferred to the newly created government agency Ginnie Mae”.
PS: the proof the government is good in words these days is in “Taxpayer”
Taxpayer not on the hook ect, so suddenly the always non popular government is making itself popular by one-liners, and let the taxpayer know, that if the taxpayers do not pay, the taxpayers are on the hook
SIFI vote is Wednesday 2:30
WHEN IS SIFI VOTE??
Excellent fine Barrario
In the interest of transparency, we should be able to hear the results Thursday anyway.
Latest from the transparent – not – FSOC: both open and closed meetings 3/6 on same action re non-bank designation. Closed portion is due to deep secrecy about something that could move markets – such as?
— Karen Petrou (@KarenPetrou) February 28, 2019
Tomorrow they VOTE on whether or not FnF become SIFI
SIFI- In summary is a wildcard.
My guess is that one meeting will not be decisive, but could be directional.
Question- Is the rise in price due to investors feeling that SIFI is going to be positive? That seems possible unless people in the know are not sharing other good news.
Unfortunately, this could be like the latest Tesla announcement where the market was excited and then the balloon was popped with Tesla just announcing a follow through on a previous promise.
But it won't show photos of the inside of the property. Potential buys would have to make their own cost determination given the condition of kithen etc against other properties not listed for sale so they can't make a comparison.
March 5, 2019 ...
https://www.insidemortgagefinance.com/imfnews/1_1557/daily/Freddie-AMC-String-Ste-CFPB-1000049787-1.html
David Stevens, the former commissioner of the Federal Housing Administration
and president of the Mortgage Bankers Association, has joined ProxyPics as a
senior strategic advisor.
The Chicago, IL-based tech company provides a patented platform to obtain
real-time photos of any property within the U.S. in order to improve efficiency
of the lending process. Stevens will be contributing his knowledge about the
real estate and banking industry …
It's great. Means they can't get rid of Fannie and Freddie.
Systemically Important Financial Institution
https://www.investopedia.com/terms/s/systemically-important-financial-institution-sifi.asp
SIFI- Just nice or Great for Fannie and Freddie?
SIFI vote tomorrow
News? Somebody must know something ..
Wise decision
Rotating out of pref into common? Sure seems like it.
FSOC SIFI vote Wednesday
If FSOC needs to vote on anything, Otting will have a 20% say in what they do, while everyone else will have a 10% say. (There are 10 voting members, and he would get two votes). That includes what type of companies should or shouldn’t be subject to heightened regulation.
— Victoria Guida (@vtg2) February 28, 2019
Totally going to happen.
The only way this can be done administratively is via FSOC and a non-bank financial utility SIFI designation that has such legal authority under the auspices of Dodd-Frank and not reliant on HERA.
So the March 6, 2019 FSOC meeting may be very consequential to Fannie Mae investors. Right?
There are only 2 things I see holding us back, and it's not much. Results of SIFI vote Monday should be available Tuesday. Calabria ends NWS. Big week ahead.
With all this said, its possible or even likely Buffet will buy FNMA AGAIN when its relisted on NYSE and out of cship at some point in the future. Yes, he will pay more, but it will be less risk.
That IMS article is more fake news.
We're having a good day. Congrats to the common long holders.
Exactly.
Shortie, take your small loss and move on.
Not a chance.
And what about that dude Sims on Finance? Maybe he over came his arrogance and wisened up; also converting to common.
I only see the cover page.
Shortie it’s over !!
TBTF employees it’s over !!
HF it’s over !!
It’s coming!!
https://investorshub.advfn.com/uimage/uploads/2019/3/1/rgcygsenateschd44.PNG
Don't forget about the number of their own shares FnF bought back.
My bad, different Corker.
We can all agree this is disgusting - Corker wants to be a judge.
We can all agree this is disgusting - Corker wants to be a judge.
https://www.senate.gov/legislative/nom_cal_civ.htm
I'm with you there. Date formats can be confusing, so I spell them out.
Awww, my fan club showed up wishing me well.
Somebody enlightened him.
Always got to have limit orders
I wonder if Gasparino's mommy has seen those pictures.
Now, he’s back to taking gym selfies.
https://twitter.com/cgasparino/status/1100830179230928897?s=21
Yes. All systems are GO for Calabria to head FHFA.
Could this be a confirmation vote?
Do it man, just do it.
looking to add 300k FNMA
I have not seen the calendar. Maybe someone here can post it.
Calabria has passed committee, McConnell puts confirmation on the calendar. He has to wait 2-3 days first though.
Hopefully Calabria can get confirmed on Friday.
didn't you READ ? the IMF NEWS posted ?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=147124587
Bright is OUT ! -
In early January, Bright unexpectedly quit as acting Ginnie president
(accepting a job with SFIG) while waiting for Senate confirmation.
He had been nominated to the Ginnie post in the spring of last year…
Calabria on FAST TRACK - due to V.P. Pence & Senate Leader McConnell
We’re told the reason Calabria’s nomination is advancing rapidly is quite simple. Vice President Mike Pence’s chief economist has the blessing of Senate Majority Leader Mitch McConnell, R-KY.
Hopefully Calabria can get confirmed on Friday.
didn't you READ ? the IMF NEWS posted ?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=147124587
Bright is OUT ! -
In early January, Bright unexpectedly quit as acting Ginnie president
(accepting a job with SFIG) while waiting for Senate confirmation.
He had been nominated to the Ginnie post in the spring of last year…
Calabria on FAST TRACK - due to V.P. Pence & Senate Leader McConnell
We’re told the reason Calabria’s nomination is advancing rapidly is quite simple. Vice President Mike Pence’s chief economist has the blessing of Senate Majority Leader Mitch McConnell, R-KY.
Congress has had 10.5 years to take action on fmcc and so far hasn't been able to accomplish anything.
All congress will need to do is re-write the implicit guarantee to an explicit guarantee under Trump's new plan.
This is a fmcc common share board.
Discussions about fnma or jr preferreds should be taken to other boards.
It may sound like competition opens up and FnF footprints get smaller, but these competitors will have to use CSS that Watt planned to IPO June 3, 2019. We make money either way.