something me and you share , fun.
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Housing finance overhaul may be finally in the cards, Mnuchin saysFont size: A | A | A
12:48 PM ET 4/26/17 | MarketWatch
By Andrea Riquier
Is it time to get more private capital back into the system?
Treasury Secretary Steven Mnuchin on Wednesday said the Trump administration would tackle housing finance reform after it addresses tax reform, setting the stage for Washington to lay to rest the last unfinished business from the financial crisis.
Housing finance has been a prickly subject for Washington ever since the 2008 crisis, when the giant quasi-governmental agencies Fannie Mae(FNMA) and Freddie Mac(FMCC) , reeling from credit losses, were made wards of the state. Lawmakers -- and housing analysts -- have considered overhaul efforts since then, but they've gone nowhere (http://blogs.marketwatch.com/capitolreport/2014/03/31/chances-drop-even-further-for-fannie-freddie-reform-bill-to-pass-this-year/).
That seems likely to change. In 2012, an amendment to the original agreement that bailed out Fannie and Freddie directed the two enterprises to dwindle their capital buffers down to zero by 2018.
As that deadline draws closer, calls to revise the process have grown. If the companies have no capital and experience a quarterly loss, they'd have to ask Treasury for funds (http://www.marketwatch.com/story/freddie-mac-may-need-another-taxpayer-bailout-next-week-2016-04-29) just to keep doing business.
Some analysts believe Congress would have trouble with the political fall-out from having to make another "taxpayer bailout" to the two agencies whom many Americans believe caused the financial crisis that brought the economy to its knees.
Also read: Regulator warns of risk of keeping Fannie, Freddie under government control (http://www.marketwatch.com/story/regulator-warns-of-risk-of-keeping-fannie-freddie-under-government-control-2016-02-18)
Mark Zandi, chief economist for Moody's Analytics, is skeptical even such headline risk will light a fire -- and he thinks housing finance reform is such a heavy lift that even a White House with far less on its plate would have trouble pulling it off.
The administration's interest is promising, Zandi told MarketWatch, and it's a "good sign" that, according to various media reports, Sen. Mike Crapo is aiming to hold hearings on the subject as early as next month. There's less momentum on housing in the House, where House Financial Services Chair Jeb Hensarling is focused on repealing Dodd-Frank.
But industry groups are also weighing in. Last week the influential Mortgage Bankers Association (https://www.mba.org/issues/gse-reform) released a reform white paper, followed days later by a proposal from the Independent Community Bankers of America (http://www.icba.org/icba-forms/advocacy---request-icba-principles-for-gse-reform). Zandi was one of the authors of a proposal released last year (http://www.marketwatch.com/story/this-plan-to-overhaul-fannie-mae-and-freddie-mac-just-might-pass-congress-2016-03-24).
It's technically possible for the White House and the head of Fannie and Freddie's regulator, the Federal Housing Finance Agency, to make some small administrative reforms, Zandi noted, such as amending the 2012 agreement to allow the enterprises to retain capital. But that would get Congress "hopping mad," and may wind up being more trouble than it's worth, he said, and it's more likely that the various separate reform efforts proceed independently and eventually coalesce.
Equity shareholders, who were wiped out when the Treasury began sweeping capital in 2012, have fought the sweep in court. Shares of both Fannie and Freddie have rallied since the election, when it became more likely that the new administration would be amenable to shareholder-friendly policies.
Also read: Fannie, Freddie surge as Treasury-pick Mnuchin advocates their release from government control (http://www.marketwatch.com/story/fannie-freddie-surge-as-trump-taps-advisors-who-back-privatization-2016-11-10)
Zandi doesn't believe that the headline risk of a quarterly draw from Treasury is a big deal. "It's not an economic issue, it's an accounting issue," he said. But he believes a housing finance overhaul is critical nonetheless.
"The system is working," Zandi said. "But absolutely it could be working better, and over time it will work less and less well."
What's more, Zandi said, the overall housing finance system is far too reliant on the government backstop.
Fannie and Freddie guaranteed 31% of all first mortgages in 2016, according to data from the Urban Institute, and the Federal Housing Agency guaranteed another 23%. Private-sector bondholders securitized less than 1% -- down not only from the heady levels they enjoyed in the run-up to the crisis, but also from 10-11% in the early 2000s.
"There's a lot of private capital out there that would like to do it at a similar cost," Zandi said. "We should use the government balance sheet for other purposes, for things that the private sector isn't willing to do."
-Andrea Riquier; 415-439-6400; AskNewswires@dowjones.com
> Dow Jones Newswires
April 26, 2017 12:48 ET (16:48 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Is the great Chinese Fannie and Freddie selloff finally over?
https://therealdeal.com/2017/04/17/is-the-great-chinese-fannie-and-freddie-selloff-finally-over/
According to the summary of bill changes, the original CHOICE Act would restructure the FHFA and OCC as bipartisan commissions. The FDIC would be reorganized as a bipartisan commission with all five commissioners appointed by the president, and both the Comptroller of the Currency and the CFPB director would be removed from the FDIC board. Also, NCUA board of directors would be increased from three members to five.
The new CHOICE Act 2.0 cuts a lot of those proposed changes, and instead, the FHFA director would be removable at will by the president, with no changes to the current law regarding OCC and NCUA. The FDIC structure would stay the same as proposed in CHOICE 1.0.
http://www.housingwire.com/articles/39835-republicans-propose-drastic-overhaul-of-dodd-frank-and-cfpb
Coker convicted insider trading??? lol
Coker resigned maybe!
Ackman was buying lvl @2.2$ ! testing
hope correction tomorrow at 7.5$ a share
Market is waiting 4pm ! GLTA
only for stop Obama care! but it's not that easy
Buy ...tick tack
nope it's not 50/50 ! same way your parents told you to brush your teeth!
The fix involved the Obama administration redefining the terms of the 2008 conservatorship agreements which advanced funds to Fannie Mae and Freddie Mac from a 10% dividend on moneys borrowed to the federal government’s confiscation of 100% of the future and imminent profits of these Government Sponsored Entities, or GSEs.
Miraculously, the Freddie and Fannie “pot of gold” turned out to be almost exactly the amount the Obama administration needed to meet the anticipated insurance company subsidies required to keep Section 1402 in business.
So, how did Fannie and Freddie get this pot of gold, given that only a few years earlier both GSEs were bankrupt?
In 2008, in the midst of the financial crisis caused in part by the collapse of the subprime mortgage market, the federal government decided to seize Fannie Mae and Freddie Mac, which at the time were two shareholder-owned companies.
In passing the Housing and Economic Recovery Act of 2008 (HERA), the U.S. Congress had fixed the regulatory issues at Fannie Mae and Freddie Mac, creating a mechanism for them to be placed into conservatorship at federal government’s discretion AND providing up to $187.5 billion in funds that could be advanced to the GSEs through a purchase of senior preferred stock paying a ten percent dividend.
In deciding to bail them out, the federal government took control of the two giant mortgage GSEs, with Fannie and Freddie effectively put into government “conservatorship.”
http://conservativepapers.com/news/2017/02/27/obama-illegally-diverted-money-from-fannie-mae-to-keep-obamacare-alive/
Will this be the final nail in the coffin for the Affordable Care Act, commonly known as “Obamacare?”
Federal court litigation provides evidence the Obama administration illegally diverted taxpayer funds that had not been appropriated by Congress in an unconstitutional scheme to keep Obamacare from imploding.
In 2016, a U.S. District judge caught the Obama administration’s Health and Human Services Department acting unconstitutionally and therefore put an end to the illegal diversion of taxpayer funds, but the Obama administration didn’t stop there.
http://conservativepapers.com/news/2017/02/27/obama-illegally-diverted-money-from-fannie-mae-to-keep-obamacare-alive/
Wells Fargo Cuts WageWorks (WAGE) To Market Perform from Outperform; Federal National Mortgage Association Fannie Mae Has 0.86 Sentiment
March 27, 2017 - By sdlfksdklf klsdf
Among 7 analysts covering WageWorks Inc (NYSE:WAGE), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. WageWorks Inc has $87 highest and $55 lowest target. $72’s average target is 4.27% above currents $69.05 stock price. WageWorks Inc had 15 analyst reports since August 3, 2015 according to SRatingsIntel. JMP Securities maintained the shares of WAGE in report on Wednesday, August 10 with “Market Outperform” rating. As per Friday, November 6, the company rating was maintained by Needham. The company was maintained on Friday, February 24 by Chardan Capital Markets. The firm has “Buy” rating by Sidoti given on Wednesday, October 14. The stock of Wageworks Inc (NYSE:WAGE) has “Buy” rating given on Thursday, November 10 by Needham. Needham maintained it with “Buy” rating and $82 target in Friday, February 24 report. The rating was maintained by Standpoint Research on Thursday, June 9 with “Buy”. The firm earned “Outperform” rating on Monday, April 4 by Leerink Swann. Stifel Nicolaus maintained Wageworks Inc (NYSE:WAGE) on Friday, May 6 with “Buy” rating. The stock of Wageworks Inc (NYSE:WAGE) has “Buy” rating given on Friday, February 19 by Needham.
Federal National Mortgage Association Fannie Mae (OTCMKTS:FNMA) investors sentiment decreased to 0.86 in Q4 2016. It’s down -0.14, from 1 in 2016Q3. The ratio worsened, as 6 institutional investors increased or started new equity positions, while 7 cut down and sold positions in Federal National Mortgage Association Fannie Mae. The institutional investors in our database now have: 1.37 million shares, down from 3.11 million shares in 2016Q3. Also, the number of institutional investors holding Federal National Mortgage Association Fannie Mae in top ten equity positions was flat from 0 to 0 for the same number . Sold All: 4 Reduced: 3 Increased: 2 New Position: 4.
About 1.30M shares traded. Federal National Mortgage Assctn Fnni Me (OTCMKTS:FNMA) has risen 34.72% since August 18, 2016 and is uptrending. It has outperformed by 27.54% the S&P500.
Analysts await Federal National Mortgage Assctn Fnni Me (OTCMKTS:FNMA) to report earnings on May, 4.
Federal National Mortgage Association is a government-sponsored enterprise chartered by Congress. The company has market cap of $3.08 billion. The Firm serves as a source of liquidity for purchases of homes and financing of multifamily rental housing, as well as for refinancing existing mortgages. It has a 233.54 P/E ratio. It operates through two divisions: Single-Family and Multifamily.
William Harris Investors Inc holds 0.73% of its portfolio in Federal National Mortgage Assctn Fnni Me for 653,403 shares. Vnbtrust National Association owns 181,355 shares or 0.39% of their US portfolio. Moreover, Messner & Smith Theme Value Investment Management Ltd Ca has 0.22% invested in the company for 34,900 shares. The California-based Van Hulzen Asset Management Llc has invested 0.11% in the stock. Benchmark Capital Advisors, a New York-based fund reported 25,000 shares......
http://www.mmahotstuff.com/2017/03/27/wells-fargo-cuts-wageworks-wage-to-market-perform-from-outperform-federal-national-mortgage-association-fannie-mae-has-0-86-sentiment.html
we will see 12.5$ a share this week! maybe or maybe not
freedom of choice! illegal is illegal!
simple Stop NWS is Stopping O.Care! that why Stump not cared a bit! very simple... money talks!
before 20$ he wanted 1.5$ lol
9 years!
Goldman Sachs Keeps Buying Fannie Mae Loans, Why?
http://www.dsnews.com/daily-dose/03-16-2017/goldman-sachs-keeps-buying-fannie-mae-loans
i call 1$ a share for 2 mil$ fir another corruption! Ackman lost 2.8 billion $ he has bih problem right now! Bla bla bka
Corruption after another corruption! Money talks....American Great Again! let faith Mr.Trump can do it!
Interviewed Friday, Corsi said that is wading into the topic because of recent court decisions related to the bailout and because of the prospect of Obama administration lobbying the Trump administration to eliminate Fannie and Freddie and give Wall Street a bigger say in the secondary mortgage market.
"I want to expose how the Obama administration just saw cash there, and they knew they could divert it to Obamacare, and they did," he said.
Corsi said that he has no investments in Fannie or Freddie, nor any ties to investor groups. Rather, he favors the government-sponsored enterprise model for bolstering liquidity for middle-class home loans and is skeptical of Democratic influence on the companies.
He said that he is planning a series of exposes on the bailouts. Those will establish a more direct connection, he said, between the funds taken from Fannie and Freddie and the funds paid out as Obamacare subsidies.
http://www.washingtonexaminer.com/author-known-for-birther-book-steps-into-fannie-freddie-battle/article/2617072
Did the Obama Administration Use Fannie Mae and Freddie Mac Funds to Bail Out ACA?
http://www.valuewalk.com/2017/03/obama-administration-use-fannie-mae-freddie-mac-funds-bail-aca/
I asked the Treasury if it might be considering allowing Fannie and Freddie to hold on to their earnings from the fourth quarter and subsequent quarters to protect against a taxpayer draw. A spokeswoman did not respond to a request for comment.
This brings me to the second decision the Trump administration must soon make regarding Fannie and Freddie: Will its Justice Department continue to fight the investor lawsuits as aggressively as the department did under Mr. Obama? Or will the new administration throw in the towel, deciding these are battles it’s not keen to keep waging?
We will most likely know the answers to those questions by April 17. That’s the deadline the government has just been given to produce thousands of documents it has been withholding from plaintiffs in one of the shareholder cases.
https://www.nytimes.com/2017/03/10/business/trump-fannie-mae-freddie-mac.html?_r=0
FINANCIERS FIGHT OVER THE AMERICAN DREAM
A hedge fund planned to make a fortune—and do good—by exposing how Herbalife preyed on the poor. What went wrong?
http://www.newyorker.com/magazine/2017/03/06/financiers-fight-over-the-american-dream
Ackman got fired!
7$ a share is coming !
Because Obama !
FEDERAL HOME LOAN BANK
0.0000
N
0.0060
2500285.00
2500285.00
0.0023
N
N
Y
N
FEDERAL HOME LOAN BANK
FEDERAL HOME LOAN BANK 1.000000%
3130A6SW8
U.S. Government Agency Debt
Y
Moody's Investors Service, Inc.
Aaa
Standard and Poor's Ratings Services
AA+
2017-12-19
2017-12-19
2017-12-19
N
N
N
0.0085
5005015.00
5005015.00
0.0046
N
N
N
N
FEDERAL HOME LOAN BANK *
FHLB 0.65 04/28/17 0.650000%
3130A7TT2
https://www.streetinsider.com/SEC+Filings/Form+N-MFP2+TD+Asset+Management+USA+For%3A+Feb+28/12641100.html
I still here lol until the END!
Ackman will sale his shares! Maybe tomorrow
sickness is not over yet 2.1$ this week
Most important is big investors like Ackman .... when is he taking lost! Sell
Fannie And Freddie Were 'Illegally Robbed' By Obamacare, Infowars Claims In New Report
https://www.benzinga.com/general/politics/17/02/9101993/fannie-and-freddie-were-illegally-robbed-by-obamacare-infowars-claims
Fannie And Freddie Short Sellers Profited $100 Million On Court Ruling
https://www.benzinga.com/trading-ideas/long-ideas/17/02/9107941/fannie-and-freddie-short-sellers-profited-100-million-on-cour
look good they may do it again !!!
look like major selling next ... 10% Ackman is holding need a good price to sell it ! JMO