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To my knowledge, litigation is not ripe because the warrants have not been exercised so a takings has not yet occured.
Takings is being litigated in another court. Takings is not on the agenda for scotus.
FnF Market Cap Valuation = 507B after capital raise.
No way, I say early JUNE!
I expect a rights offering for current commons.
If SCOTUS rules favorably for plaintiffs and regardless of what happens after that... when the capital raise commences, I see absolutely no reason why there would not be a rights offering that is equivalent to what FnF are offering outside private capital coming in. In fact we should technically be getting first right of refusal.
I mean does it really matter where the new capital is coming in from?
Freddie goes first!
At this point... might as well just hold to the bitter end.
Most or completely?
Quote:
After more then 10 years of holding I am completely out of FNMA shares this morning.
Quote:
WOW. GLAD I KEPT MOST OF MY FNMA SHARES.
Then comes the bigger question... Take profit or keep holding?
Do you know what their annual net income was for those years compared to these past 2 years?
Look at that I was one for two.
Gonna say tomorrow will be GOOGLE and VAN BUREN (:
Gonna say tomorrow will be GOOGLE and VAN BUREN (:
Glad to see that everybody is aware that there are opinions SCOTUS tomorrow and we don't know in advance the other other opinions coming later...FNMA
1% for SCOTUS today... I personally just feel like the birds of fate are swirling over June. A couple of other life events for me seem to be reaching clarity around the same time as well.
Definitely not tomorrow. The biden administration is not ready yet. It'll probably get pushed back to the last moment... Mid June I'm anticipating.
Separate branches in appearance only... We all know they all talk.
If no ruling tomorrow this will pull back a little bit (probably back to mid 1.90s). I think we will have these small run ups every week on Wednesdays or prior to the SCOTUS opinion days until the actual decision.
It could come tomorrow but I think it will be another few weeks.
Abysmal volume again today. Diamond hands all around I presume.
Today's problems were yesterday's solution.
As they say, its all relative. The government is a master of unintended consequences, and rarely are they ever positive. SCOTUS I hope is aware of this because there is much history to back it up.
Wow like no volume today!
Let's breathe some life back into this board. (:
If I was happy to buy sub 2... I'll be more than happy to load at .25
Wouldn’t it be too late by then? By the time we find out supreme is looking the other way this thing will be back to 25 cents. At that point the exit is already done for us.
Sorry guys, I closed out 20% of my position today to go play with something else in the meantime... will restore before June I promise (:
FYI its because foreign powers hold a lot of FnF debt that the US GOVT can't just "axe" FnF.
Liquidate FnF and tell Saudi that the paper they hold is worthless?!?!
Bond offering for Fannie Mae Saudi Arabia wink
https://twitter.com/qcontrarian?s=21
https://www.bnnbloomberg.ca/saudi-arabia-s-fannie-mae-eyes-debut-international-bond-in-2021-1.1574388
NEWS WIRE
Company News
Investing
2h ago
Saudi Arabia’s Fannie Mae Eyes Debut International Bond in 2021
Matthew Martin and Yousef Gamal El-Din, Bloomberg News
Properties stand in a residential area of Dhahran, Saudi Arabia, on Wednesday, Oct. 3. 2018. Saudi Arabia's Crown Prince Mohammed bin Salman has vowed to overhaul the economy of the world’s biggest oil exporter in little over a decade.
Properties stand in a residential area of Dhahran, Saudi Arabia, on Wednesday, Oct. 3. 2018. Saudi Arabia's Crown Prince Mohammed bin Salman has vowed to overhaul the economy of the world’s biggest oil exporter in little over a decade. , Bloomberg
(Bloomberg) -- Saudi Arabia’s mortgage-refinancing firm is planning to sell its first international bond later this year as the kingdom’s equivalent of Fannie Mae looks to boost its activities buying up home loans from banks.
The Saudi Real Estate Refinance Co., established in late 2017 by the kingdom’s sovereign wealth fund, has started preparing for its first global bond sale, and is also looking at structured-finance options, Chief Executive Officer Fabrice Susini said in an interview with Bloomberg TV.
The company has also just raised 4 billion riyals ($1.1 billion) from Saudi investors in seven- and 10-year notes, its biggest issuance so far, he said. The refinancing company was set up to buy home loans from banks and other finance companies, freeing up lenders to book more mortgages.
Saudi citizens have complained for years about the availability and affordability of housing, and boosting home ownership is one of Crown Prince Mohammed bin Salman’s key goals. The introduction of a mortgage law along with government incentives have now made mortgages one of the main drivers of lending growth for banks in the kingdom.
Despite the rapid increase in mortgage financing in the kingdom “risks remain under control,” Susini said. “The rate of increase of mortgages has been very significant but it’s been from a very low base.”
The govt is more than welcome to buy out my shares at $120 a piece.
the GOVT's Corrupt plan All along was to Nationalize Fannie Mae -
then pay off the MBS Holders with Minimal 1% to Zero losses and
STICK IT TO SHAREHOLDERS - NO Fiduciary Duty to Shareholders !!!
SCOTUS also has 3/22 and 3/29 shaded in PURPLE. Anyone know if potential for opinions for those 2 days as well?
Now he won't get par ):
Good twit for RT but Bradford destroyed it with his dilution comments
Is SCOTUS on vacation from 9-18 or something?
Even a broken clock is right twice a day.
Like clockwork.
Reporting for duty.
Kaoboy has been in this trade for so long that he forgot that FnF are now profitable.
Is this true???
form yahoo board
"Rodney5 hours ago
The Liquidation Preference and the Senior Preferred Stock will both go away if the SCOTUS grant the Plaintiffs what their asking for... The below information was before the 10K 2020 release. The numbers change each quarter.
Company’s 10Q dated September 30, 2020 page 74; Next Earnings Report should put us over $25B.
Below information from Timothy Howard—Former vice chairman of Fannie Mae
Tim Howard January 20, 2021
Comments section, Total equity unchanged.
Quote: “Now consider the alternative requested by the plaintiffs in their “prayer for relief” in the Collins case. They are asking that quarterly net worth sweep payments in excess of a 10% per annum dividend on the previous quarter’s outstanding senior preferred be characterized as paydowns of the principal of that senior preferred. Doing that over time reduces both Fannie’s and Freddie’s senior preferred stock to zero (and leaves a credit balance, likely to be paid to the companies as credits against future federal income tax payments owed). What would happen in Fannie’s “Condensed Consolidated Statements of Changes in Equity (Deficit)” in that case? The senior preferred would go to zero, and, because the senior preferred is being repaid, the negative accumulated deficit of $112.68 billion would change to positive retained earnings of $8.16 billion. Once again, total equity would be unchanged, but Fannie would be free of the $120.84 billion in senior preferred (and its associated liquidation preference) at no cost.” End of Quote"
I don't see TH saying Liq pref gone, that's why I am asking for more clarification
TIA
I've been accumulating some JPS the past 2~ weeks because I saw that they were on sale but when Kaoboy goes off like that, it made me switch back to accumulating commons full steam ahead.
Frankly, I have nothing against JPS its just when these "JPS thesis" come out it always strengthens my resolve for commons...
Always comparing FnF to companies that are in a do-or-die situation where if restructuring does not happen in the next week the whole ship will sink... That time period has sailed a long time ago. FnF is profitable, stable, and supported the entire housing market through COVID without blinking.
Just like Aladdin, its a whole new world.
Kaos latest analogy on GM restructioning in bankruptcy (and railroad bonds) and the jps fulcrum security:
Re: Fannie/Freddie-Unfinished Business. I have some unfinished business to discuss that I couldn’t cover in yesterday’s interview, but more importantly, the US has major unfinished business in undoing one of the largest nationalizations in US history. Some comparisons follow…
— Michael Kao (@UrbanKaoboy) February 10, 2021
Kao looks like he just woke up from a night of drinking.
Identifying Sound, Anti-Bubble Trades:
Fannie Mae and Freddie Mac -- Live with Michael Kao and Tim Pagliara
https://www.realvision.com/identifying-sound-anti-bubble-trades-fannie-mae-and-freddie-mac-live-with-michael-kao-and-tim-pagliara/
I bought his 25$ book off amazon. Did you?
That's selling for the "pie in the sky" valuation of commons already!
Well Tim also said he'd sell commons for tax purposes if needed so he's not big on commons either.
Lies, your next paycheck is just around the corner. Keep adding please.
I've got all the Willy Wonka tickets that I could muster. Out of powder.
We should all move over to wallstreetbets.
The moment of F&F will be like GME when it free from Cship by SC and SPSPA cancel. F&F SP from $2 to $300 NYSE watch out and hold on your precious share our moment will come @ unexpected. Let all the noise from left to right with mm manipulation. F&F long will find the happy after all. Be patient and enjoy life on earth.
Pre-Market showing green O_O
Prefs Red ~_~
What's up with the greenery today?
I think one of the cleanest settlements would be to deem PSPA repaid so that gets wiped. Then the 30B in overpayments used to exchange for all of the warrants.
That way zero monetary changes actually occur. The govt can save some face too.
Its really not bad at all... If commons current have 40B in capital and we can increase our equity by 79.9% by spending 30B... Pretty good if you ask me.
Treasury is hellbent on selling those warrants
Whether they will be able too or not is a different story.
If they do sell the warrants it’s best the GSEs buy them.
Best to you jog49
If this drips down to 1.50
Its time to back up the truck.
Do they have an updated timeline chart yet?
I think February or March. My word against ACG's.
It shouldn't take that long right? Its not like the plaintiffs are asking for the whole house.
Just a 30B overpayment... But if they were asking for the house, then I could see it ensuing for months.
Rick - Right - thanks for posting this. The Supreme Court is in the Constitution business. Not in the damages business. Expect this to be sent back to the lower court - with the guardrails established by the SC. This is not a bad thing and, even if the cases go forward in the lower court, it will not take many years to decide. Perhaps 1 -2 years and in the context of the last 13 years this is not long. But, like you said, after the sc rules a settlement would be likely. All the parties know that big bucks are on the line either way - and finality is just around the corner.
Remember, Seila Law oral argument was March 3 and decision June 29 - 4 months. Collins oral argument was Dec 9. A case similar to Seila - but perhaps Collins is a much more complex case. So don't expect anything tomorrow. May-June is more likely.
Nats
ARRRRRRRRRRGH
I thought markets closed today? I guess gray today?
What does the ball say today? Green or Red?
After 4 years we will have approximately 120-140B in retained capital.