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FnF to soon be “Plunge Protection” once the NWS is lifted?
Munching and Bloomberg for end of day boom... https://www.bloomberg.com/news/articles/2018-12-18/mnuchin-hints-at-fannie-freddie-changes-to-end-federal-control
Lots of volume today....
Hey Rick... @ricknagra.... Whole bunch of hotdogs bought in that t-trade...
Capital Research and Management increases position by 37% and now own 96 million shares
https://www.morningstar.com/stocks/pinx/fmcc/quote.html
6200 and 7800 are the magic numbers today....
FNMAS has a 1milly sell today
We could have a $10 per sharing earnings cycle and it wouldn't matter regardless of the news ... We will always be fed what we are supposed to know thanks to Obama and the NDAA around NWS time.. (Trump recently signed) Psyops on our own people is authorized so it makes you wonder why they needed this in law in the first place..
http://www.businessinsider.com/ndaa-legalizes-propaganda-2012-5
Toronto stock exchange taken offline due to "glitches" today....
FMCKJ had 2 x 1 million share buys at end of day
Things definitely changing. Am hopeful we see something similar to the link once this is all said and done for the lying and deceit for those who colluded on the theft of fmcc and fnma
https://www.scribd.com/document/376732787/472EBC7D8F55C0F9E830D37CF96376A2-Final-Criminal-Referral#from_embed
I would agree... Check out http://www.morningstar.com/stocks/pinx/fmcc/quote.html to see the buying and selling under the concentrated. Don't see a lot of large positions being exited. Wonder if someone large is selling to some of these boys...
8 x 35000 sales so far
27 x 27500 sells so far today
Cats out of the bag Guido... Nice find...
That was funny...... F'n Qatar for all the old timers... :)
I think FMCC has been on CSS since Nov 2016 so already there and using.
Is that TWO 2,000,000 buys at 9:56?
Interesting day...
7 buys over 50k - 3m, 215k, 150k, 150k, 100k, 100k, 100k, 50k - all buys after 12:24 est
4 sells over 50k - 150k, 150k, 100k, 50k - all sells prior to 12:24 est
150k buy at 11:37
150k buy at 12 noon today
115k buy two minutes in today
Damn right you don't mess with Texas!!
152K FMCC trade at market closing... T-trade?
Pimco is no small fish.... Nice to see them chime in on what's not broke...
I was checking my IRA this morning and saw I had American Funds, Growth Fund of America in the portfolio. I guess I now own 68 million shares of FNMA while researching who this Capital Research and Management Company that bought FMCC.
http://money.cnn.com/quote/shareholders/shareholders.html?symb=FMCC&subView=institutional
If FnF have to take a draw... Total failure by regulator... Should be fired...
I am very interested to see what starts happening in February with all of the retirements taking place that will help FMCC and FNMA move forward to help America now that a "Universal Clean-Up" is underway - See Pacer
http://i-uv.com/wp-content/uploads/2018/01/Pacer-Doc-98-PRAECIPE-DECLARATION-OF-DUE-CAUSE-AND-JUDGMENT-AND-ORDER-OF-DISMISSAL-01-22-18.pdf
IMF News
Short Takes: GSE Reform is Dead, Here’s Why / Okay, Maybe a 20 Percent Chance of Passage / What’s Riskier? GSE Stock or Bitcoin? / Nonbank CEO Ready to Depart / Brett Hively Resurfaces / FHA and the Government Shutdown
By Paul Muolo
pmuolo@imfpubs.com
If you thought that GSE reform had a good chance of passing this year, think again. Friday morning, industry lobbyists were perplexed about new reports that Senate Republicans were leaning toward a reform plan that entailed placing Fannie Mae and Freddie Mac into receivership as a transition to a new housing-finance system, one with multiple guarantors. The belief is that the GSEs would be killed outright. As one trade group official noted: “There is no vote count for receivership. There is not a single Democrat who will vote for this…”
As the weekend approached, the Senate Banking Committee had yet to unveil its version of GSE reform. Rep. Jeb Hensarling, R-TX, is working on his version of reform legislation, which would make Ginnie Mae the king of the secondary market while eliminating Fannie and Freddie…
Speaking at a Thursday luncheon sponsored by Women in Housing and Finance, Treasury counselor Craig Phillips said the Trump White House is “extremely committed” to housing-finance reform and favors reform objectives outlined this week by Federal Housing Finance Agency Director Mel Watt. (Reporting by Carisa Chappell / cchappell@imfpubs.com.)
In a seven-page document provided to the Senate Banking Committee, Watt and his staff call for Fannie and Freddie to be “reincorporated as private, shareholder-owned corporations with a regulated rate of return that would enter the market as the first two SMEs [secondary market entities] in order to help ensure an orderly transition to the new system…”
One veteran GSE lobbyist told IMFnews that he believes there is just a 20 percent chance of GSE reform being signed into law this year…
Keep in mind that the Treasury Department is the de facto owner of Fannie and Freddie, controlling all of their senior preferred stock. Depending on who you talk to, the common shares are worthless and the junior preferred is “almost” worthless – but that hasn’t stopped individuals and investment vehicles from speculating in these instruments…
POP QUIZ: If you’re a speculator, which would you buy: shares in Fannie and Freddie or Bitcoin? Drop me a line at: pmuolo@imfpubs.com...
GSE Shareholders Appeal Loss in ‘Sweep’ Case Against the FHFA
By Carisa Chappell
cchappell@imfpubs.com
After their case against the Federal Housing Finance Agency was dismissed by the U.S. District Court for Delaware in November, government-sponsored enterprise shareholders David Jacobs and Gary Hindes recently filed an appeal.
In Gary Hindes v. the Federal Housing Finance Agency and the U.S. Department of Treasury, the plaintiffs argue that the net worth sweep of GSE profits to the Treasury violates Delaware and Virginia law, the states where the GSEs are incorporated. But the defendants won their motion to dismiss the case for lack of subject matter jurisdiction.
In their appeal, Hindes and Jacobs said, “The court erroneously relied on defendant-appellees’ factual assertions in granting their motions to dismiss, which was improper under the standard of review applicable to those motions.”
They went on to say, “Neither the companies nor their private stockholders received any consideration in exchange for the net worth sweep, which expropriates to the government all of the economic interests held by the companies’ private stockholders and makes it impossible for the companies to rebuild their capital reserves, exit conservatorship and return to normal operations. This action challenges the validity and enforceability of the net worth sweep.” For the full story, see the new edition of Inside MBS & ABS, now available online.
Other areas of interest: Originations, Regulatory, Fannie, Freddie, GSEs
Jaymes.. Interesting comments from #TBTF
http://video.foxbusiness.com/v/5705844729001/?#sp=show-clips
Did you see that 3.5 mill after hours trade??
Might be a great move... Volume super up today... 11 mil presently
Interesting we have had 10% of volume in 12x 1 min window buys of over 100k each today
9:38
9:50
9:53
10:14
10:22
10:45
10:51
13:58
14:27
14:31
14:32..... Lots......
14:34
Did you guys see the twins were almost even this morning... Fmcc was at $2 and fnma was at $2.01 for about three minutes time... So Looking forward for the day when fmcc takes the lead...
Appreciate the input. Old-timer, small-timer, long-timer here. Bought a whopping 500 shares this morning and broke my rule to never buy on Friday. I got out of Fred commons this past Oct 23 but like to follow this as the twins have shown me just how much we are lied too and how corrupt our leaders and our media are. Been watching the "retirements" and it's starting to play like a "Who's Who" of who screwed us and our Country and most likely profited from it like our Great Senator From Wells Fargo who's net worth increased over 3000% on a Senators salary.
I reminisced this morning and remember when the Fred CEO committed a supposed suicide. I remember when Bruce Berkowitz offered to buy the twins back in November of 2013 and the GOVT wouldn't sell and figured if it smells, pay close attention. What a way to get rid of the dirty diaper and sell to Bruce. Made sense and then the puzzle pieces started trickling in and then a "biggie" came into play when the treasury Secretary said that the Twins were paying for Obamacare. Watched the Senate and House hearings over time and even heard a Senator state the twis should be released from Consevatorship. I also soon realized "MY" elected Congressional Rep and his PATH ACT were part of the cover-up and became a little bit of an activist. Went to his town hall and watched his ears get red asking a simple question about "Why did the banks sell bad mortgages to Fannie and Freddie and why weren't they put into conservatorship? Learned about all the lawsuits and the $$$BILLIONS$$$ of dollars the FHFA won and came to the quick realization about the banks being the driver of the train wreck and the twins being taken over to be money launderers to the FED. Been watching posts from 955, Surfonium, Joseph, Cmdr, Stockprofitter, and Contrarian for along time. Paid attention to Bradford, Skibrian, The Devil, Neo, Camaro, Ace, CBS, MrFidl, OBI, Wayne Z, CrownJewels, and learned the way of the T-FUD index. I learned to sell when Detearing posted as we always tended to drop and had our balls busted.
Observed just how bad Carney and Joe Light were and figured out they worked for profit and were in the back pockets of the big boys including our elected reps. They had the perfect opportunity to expose and be national heroes but probably realized how great living is versus dying as their keepers would never run the stories as they were in on it.
Anyway, news like Fred released today (below) on how much they issued absolutely boggles my mind as Fred looks to be running pretty dang smooth and on all cylinders.
The House comes back to work on Monday so maybe the Twins are anticipating the progress of another year and the stock price is tanking in anticipation of their returns via "first class."
Apologies for the rant but it has been quite the ride watching how it really works in our country and media by doing day trading at a $1000 a trade.
Good luck to all in 2018 and as a cancer survivor, you are always rich if you have your health.
TD
MCLEAN, VA -- (Marketwired) -- 01/05/18 -- Freddie Mac(FMCC) today announced it has issued a record-setting $68 billion in multifamily securities in 2017, effectively transferring the majority of risk from taxpayers to private investors. This milestone sets Freddie Mac(FMCC) apart as an industry leader, through its numerous offerings of high-grade multifamily securities.
"Through our established offerings, and a variety of innovations, we transferred more risk away from the U.S. taxpayer than ever before," said David Brickman, executive vice president and head of Freddie Mac Multifamily. "Thanks to strong support from our investors, and the dedicated Freddie Mac(FMCC) staff, our flagship K- and SB-Deals both had exceptional years. In 2017, we continued to build on that success with new securitization and risk-transfer vehicles that helped us adapt to changing investor demands, lowered the cost of capital for properties and, as a result, made renting more affordable."
Contributing to the more than $68 billion total securitization, the company settled:
More than $56.7 billion in K-Deals
$5.5 billion in SB-Deals
$2.0 billion in KT-Deals
$656 million in ML-Deals
More than $3.2 billion in Q-Deals, M-Deals, Participation Certificates, SR-Deals and SCR Notes
"We had an excellent 2017 -- our issuance calendar was robust and bond spreads tightened over the course of the year. Moreover, nearly a decade after K3, a landmark transaction in our K-Series, we continue to expand our securitization platform and offer new ways to transfer risk to private investors," said Robert Koontz, vice president of Capital Markets at Freddie Mac Multifamily. "Simply put, our success was not possible without our investors and, of course, the best staff in the business. Thank you for another amazing year."
2017 saw the announcement of several new credit risk-transfer vehicles. Among others, these included the ML-Deal, the first-ever securitization of a tax-exempt loan portfolio; the KT-Deal, which transfers the credit risk on loans awaiting sale into other K-Series securitizations; the TEL Multi PC, the first pass-through securities backed by tax-exempt loans; and a number of innovative single-asset, single-borrower executions. These innovations were successfully added while maintaining excellent credit quality.
Brickman added, "In 2018, we anticipate several new offerings, allowing us to continue serving our customers in an efficient, cost-effective manner, protecting taxpayers and bringing quality and affordability to the millions of American renters we serve."
In 2017, 392 different investors participated in Freddie Mac's(FMCC) K- and SB-Deal programs, including 268 in the K-Deal program and 174 in the SB-Deal program. An average of nearly 30 investors participated in each K- and SB-Deal. Since the inception of the modern K-Deal in 2009, the company securitized a total of $254 billion across all offerings, including $232 billion in K-Deals and $11 billion in SB-Deals. Since 2009, more than 650 different investors have participated in Freddie Mac's(FMCC) K-and SB-Deal programs, including 500 in the K-Deal program and over 225 in the SB-Deal program.
Freddie Mac Multifamily is the nation's multifamily housing finance leader. Historically, nearly 90 percent of the eligible rental units we fund are affordable to families with low-to-moderate incomes.
Freddie Mac (FMCC) makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's(FMCC) blog FreddieMac.com/blog.
MEDIA CONTACT:
Christopher Spina
703-388-7031
Christopher_Spina@FreddieMac.com
Back in at 2.19 but only got a partial fill...
Meanwhile... On this day in 1956... Snoopy walked on two legs for the first time.... Happy Friday all..
Looks like one name from the good ol' USA in that list Yam....
Fannie, Freddie will now keep some capital reserves
MARKETWATCH 12:32 PM ET 12/21/2017
Symbol Last Price Change
FNMA 2.845up +0.11 (+4.02%)
FMCC 2.66up +0.03 (+1.14%)
QUOTES AS OF 02:43:06 PM ET 12/21/2017
C
an the mortgage enterprises's regulator and Treasury strike a more permanent arrangement?
Fannie Mae (FNMA) and Freddie Mac(FMCC), the mortgage finance giants now under government conservatorship, will keep $3 billion each as a capital buffer, a reversal of a directive from Congress, its regulator and the Treasury Department each confirmed Thursday.
That conservator arrangement, struck in 2012 and meant to nudge lawmakers into settling on a permanent approach to the thorny question of how housing finance should be structured, had specified that the two enterprises would sweep quarterly profits to Treasury, gradually depleting their capital each quarter, until they reached zero.
That "zero" moment, set to arrive this winter, was already causing anxiety for the Federal Housing Finance Agency, the enterprises's regulator. FHFA Director Mel Watt told Congress in May that he was deeply concerned about the possibility of one bad quarter forcing one of the companies to ask Treasury for a handout.
Read:Fannie and Freddie are nearly out of money and Washington is getting anxious (http://www.marketwatch.com/story/ fannie-and-freddie-are-nearly-out-of-money-and-washington-is-getting-anxious-2017-05-11)
But now, the tax overhaul that just passed Congress makes that step a near-certainty. Fannie(FNMA) and Freddie(FMCC) both have assets on their balance sheets that allow them to reduce their tax liabilities in future years. With a lower corporate tax rate, the value of those "credits" will decline, causing an accounting adjustment that will leave a quarterly loss.
Importantly, FHFA acknowledged that such a step (https://www.fhfa.gov/Media/PublicAffairs/Pages/Statement-from-FHFA- Director-Melvin-L-Watt-on-Capital-Reserve-for-Fannie-Mae(FNMA)-and-Freddie-Mac.aspx) is still likely. "While it is apparent that a draw will be necessary for each enterprise if tax legislation results in a reduction to the corporate tax rate, FHFA considers the $3 billion capital reserve sufficient to cover other fluctuations in income in the normal course of each Enterprise's business," it said.
In a statement (https://home.treasury.gov/news/press-releases/sm0242), the Treasury Department said its "first duty is to ensure that taxpayers are being protected. This agreement balances the concerns of the FHFA with compensation for taxpayers. The Administration looks forward to working with Congress on comprehensive housing finance reform, a top priority in the year ahead."
The emphasis on taxpayers may be cold comfort for Fannie and Freddie stockholders, who were mostly wiped out by the 2012 arrangement, and who have sought remedies through the courts.
Congress is considering an overhaul of Fannie and Freddie, and seems likely to advance legislation (http:// www.marketwatch.com/story/prospects-for-housing-finance-reform-brighten-and-may-favor-shareholders-2017-12-08)in 2018. But many housing analysts believe Treasury and FHFA together have the authority to come up with a new arrangement, without relying on lawmakers.
Thursday's agreement may be a small step in that direction.
Read:Congress wouldn't do it, so Fannie and Freddie reformed themselves (http://www.marketwatch.com/story/congress- wouldnt-do-it-so-fannie-and-freddie-reformed-themselves-2017-08-03)
-Andrea Riquier; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
12-21-171332ET
Copyright (c) 2017 Dow Jones & Company, Inc.
I thought Rick passed away