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sounds good, thanks! My current one is almost out. Don't want to miss out on ihub. :) Sweeney/Fairholme is not on the schedule today. Does anyone know when they return?
I believe he has about $18 billion dollars with which to work. Nice way to start the year. He says they spread the profits, add to ALL holdings. $fnma,fmcc$
Here's a link
Squawk Box is in a #NewYorkStateOfMind. Tomorrow at 6 AM ET. pic.twitter.com/gDdSXTABsA
— Squawk Box (@SquawkCNBC) January 6, 2015
I saw and heard it on cnbc this morning. They always make it tricky to find a link with their schedule. I think it's their marketing style. They'll just throw out additional teasers while watching. I definitely saw it, Ackman and 2 others. The show is 6-9am, so I just record it.
Good info, thank you! Yes, speed is important for me, and I need to try out some different software, platforms, etc. Maybe I'll go apple and take advantage of their workshops. Sorry this is OT!! but hey, I've had a lot of big investors buy up Fannie, Freddie shares, just because they're curious about what I'm doing on the old laptop!
Fidelity shows 2.23, bid 2.22, ask 2.23
Ackman on cnbc tomorrow, squawk box, 6am est
Fidelity shows 2.23. Thanks for your input. I took a screen shot. No one's cheating me out of my hard earned shares or manipulating the price even further than what we all put up with on the OTC! :) Schwab should give an explanation. Please share with us their explanation, if you see fit!
Yes, news travels very fast these days, but for whatever reason, sometimes there's a lag. Like last March about a 2 hour lag between the time news hit and the spike down. I remember well, because I sat there watching it without acting, like I should have. :)
Am I the only one laughing at country club calendar? Lol, It's good, definitely good, makes sense! Atlanta residents might want to join that club, good networking. I appreciate the author sharing. Thank you! Good news.
Fannie, Freddie seem to have a little lag time. Not everyone is sitting in front of their computer like us. :) Sounds like this news happened today at the Rotary club.
It just takes forever! Johnson told Watt to get with Treasury about release. What part does Treasury have? End the sweep, so Fnma, fmcc may recapitalize for proper release. End all their stupid unilateral, illegal agreements. :)
In the 10q's they talk about material weaknesses, need to retain capital and post all over the place about limits due to conservatorship. :)
They speak in the 10q's also. Maybe pre-release they should first add language that all Fannie, Freddie execs and employees may speak freely, give input on a logical plan for release? End the "gag order.". It is so much more complicated now with Basel requirements, etc.
Yes, I'm sure Ackman's team is on top of it. Great letter! Btw, are you related to the Patel that writes The Middle? If you are, you're a genius! :) Fnma, fmcc are here to stay!
I spoke about volume, not price of fnma, fmcc. :)
We should encourage everyone out there that benefits from Fannie, Freddie to buy shares in the companies. All realtors, lenders, borrowers, etc. Then maybe they'll take more of an interest to see that capital is returned to Fannie, Freddie, and the companies are run well, free from government conservatorship. IMO
You're right! Fannie is holding on despite a big red day for the Dow. I know we all argue about whether that affects the price, but the volume of Fannie, Freddie shares traded usually looks low when the Dow is triple digit red. IMO
Fannie, Freddie are vital to housing recovery, which is vital to US recovery. I agree, not sure what he'll say or won't say, but everyone listening knows that we need Fannie, Freddie to turn over the housing market.
WASHINGTON (MarketWatch) — A Thursday speech by President Obama about the housing market may move the shares of federally controlled mortgage-finance giants like Fannie Mae and Freddie Mac, analysts said.
If the president doesn’t discuss housing-finance reform proposals, the omission could lead to a rally in shares of Fannie FNMA, -0.91% and Freddie FMCC, -0.93% according to research from Keefe, Bruyette & Woods, a New York-based investment bank.
“We believe the absence of the topic in his Phoenix speech may be seen as a sign that the administration is giving up on its goal of unwinding the [government sponsored enterprises],” the KBR analysts wrote.
The White House has repeatedly called for winding down the GSEs, but disagreements in Congress about the correct size of the government’s footprint in the mortgage marketplace likely mean that reform won’t pass soon. With Republican majorities in both congressional chambers and ongoing disagreements over reform proposals, the president may ease up on his push for reform.
Some see congressional inaction as good news for Fannie and Freddie investors if it pushes the companies closer to a resolution that leads to a payout for shareholders. The companies have been in federal conservatorship for more than six years, and because of a 2012 deal with the government, Fannie and Freddie send all of their profits to the U.S. Treasury Department, which prevents shareholders from reaping any rewards as the companies strengthen along with the broader housing market.
MarketWatch
Fannie and Freddie investors had a tough 2014, with shares hit by congressional proposals to wind down the firms, as well as hits to shareholder suits. Common shares ended 2014 down by 32% for Fannie and 29% for Freddie, while the most heavily traded preferred series of Fannie FNMAS, -0.24% and Freddie FMCKJ, +0.24% each lost about 56%.
The president is speaking Thursday in Phoenix — home prices there are down 35% from a bubble peak, more than twice the gap for a broader gauge of U.S. cities — about the housing market’s recovery, and is expected to announce “new steps” to support homeownership, according to the White House. Obama could use the speech to talk about lowering premiums for federally-insured mortgages, backed by the Federal Housing Administration, that help prospective owners who can’t afford a large down payment.
“If President Obama does mention this then we think it could positively impact the mortgage lenders, title insurers, and homebuilders,” KBR analysts wrote.
Such an announcement would build on other recent federal actions aimed at deepening the pool of applicants who qualify for mortgages to buy a home. Regulators recently enabled Fannie and Freddie to back loans with down payments as low as 3%, a move that could help some families nab a mortgage.
Still, many Americans either can’t or don’t want to take on the risk that comes with homeownership. This year is expected to be another “landlord’s market,” with high demand for rentals along with low vacancy rates enabling landlord’s to crank up rents. Rents are rising by the fastest pace in six years, according to government data.
http://www.marketwatch.com/story/obamas-speech-on-housing-could-move-shares-of-fannie-freddie-2015-01-05?siteid=yhoof2
Kind of annoying!!! These are trillion dollar publicly traded companies!!!
What is the time frame for analysts that picked $3?
If he words it right, we can play it! If his advisors have a clue, we'll be fine!! Wait and see, now! If no one cares to show up for work, than forget it! Anybody's guess.
Afraid because then we would have shareholders meetings, and possibly vote them out! Ackman's November conference call was good, sort of a pre-shareholder meeting, since they have over 10% exposure of commons. Looking forward to the next one!
Berkowitz asked (told) them last year.
good info, thank you
He can direct, (indirectly), but has to be Watt, congress or court decision, I believe. Politically, each entity will probably be allowed time for speeches, etc to give their spin.
Have they said what the location is in Phoenix?
What was your impression AW?
Exactly! Mind if I copy your wording, and send it everywhere? :)
Sounds good to me! Our mass emails, letters, tweets, etc should be sent straight to the Treasury. Protest in front if we have to. Stop the sweep! The sweep part could end today. Release, end of conservatorship is full of more details.
Thanks Rocco2! Glad we're having our day(s) in court. The video is great, reminding us all exactly what we're fighting, and FOR what, we are fighting!
Great, thank you! Looking forward to the conference call, Tuesday.
Wow! Thanks for posting that. Let's go 2015!
Nice!!
Treasury received gse payment dec 31st. Better be the last one!!!
The nice thing is that it's down to numbers. The numbers are there for everyone to see. Unfortunately the court system takes a while, especially when the gov is being sued. Balls are to the wall now after yesterday's "payment.". Cause has "ripened."! Let's go Fnna, fmcc!
Must verify receiving side, the Treasury. :) Proper accounting always shows debits and credits.
If she delays? That means discovery continues. What side are you on King1?
plus dividends and the future of middle class, US dream of a home for those willing to work for it? Everyone knows there were multiple factors responsible for 08 collapse, credit default swaps etc.,? For those concerned about the average US citizen, how about some free finance classes, mortgage 101? HUD offers some, but people don't know about them?