Yep ! low volume and short % way down here's to the next leg up !! Even the Fullstoc's line has crossed. This one's easy to predict !

I have BIG FOOT video !

The facts are this !

: he made clear to the jury he wanted a 8-0 verdict.

: he made very clear to the jury about claims that the law is and must follow.

:Why then did he want a Jury trial if he was going to just kick the can down the road when he could he dismissed the case in 2013 and be done with it ?

: the limited award, and I mean limited to what shareholders should get was very conservative.

Conclusion is from my point of view is he wanted an IRON CLAD jury verdict with a reasonable award so that the Government could not claim that this award is unjustified as it doesn’t follow the bonds of the law.

I still believe Judge Lambert wants to stick it to the Gov for there theft, there lying and how they have treated tax payers and shareholders life savings. He want's to retire on a good note so either he has some spine, or the Gov has threatened him with no retirement or dangled the big fat cash carrott in front of him to correct this jury 8-0. Time will tell if he has a spine or not.

HE told the Jury and he made it very clear he wanted a 8-0 verdict !! For the reason of ????? so no appeal would hold up !!!!

Judge Lambert was very straight about it had to be 8-0 verdict ! Why? did he already know that the FHFA would appeal asking for this very thing and for him to deny the FHFA this motion and for it to hold up on appeal !!! The 8-0 makes it very clear to him which way he can decide this case.

Me too! That’s a good reward . Agree it should be more but this is the first court case win for shareholders! Got to start somewhere

THIS WILL GO 2 WAYS!
Lets take a look at the stants Porky Lambert has in the past and against the Gov.

1, we know that he's not happy at the Gov and lawyers for lying to him in his court and wants to stick it to them, hence why he wanted a 8-0 verdict win! He really wants a win for shareholder more now he seen the dealing the Gov stole from private shareholders. Then there no recourse to over turn as he knew the Gov would file such a motion! You get a sense of this with the interest per day! He really wanted the Gov lawyers to waste time and add to the award. Remember he only gave $612 + interest !

2, Either he played his hand and stuck it to the Gov and the DOJ told him. Wait to we file the motion, over turn it collect your BIG fat bonus and retire so we can put in a Democratic judge in your place !

Why guess ? Why not just wait for the out come and keep credibility ! I don't understand why people on here make these guesses. What is it ever based on facts? Charts? Insider info? I just don't get it. I think we have had about 10 people this week make prices guesses and all been wrong. Well I hope your right, any increase is better than a decrease.

He must have gotten his shell phone wires crossed with yours !! Freddie may have a cooling off but will continue to go up for the rest of the year.

Goodie ! I got 25,000 of those !

In what year ??? will Fannie Mae be $4

Dude man pass that stuff your smoking around please ! It's making you see into the future of Fannie Mae & Freddie Mac !

Heres the answers !

1. Is pre-judgement interest excluded from lawyer fees?
I looked on there website sometimes it's posted as the details of the class action! They are not ! so for pro bono cases it's 15% to 50%. What sounded fishy to me is that they said all shareholders are in after Dec 7th. But they never dosclosed the terms of the class action and fees. This is just an Ambulance chaser law firm chasing a big payout and boy oh boy did they get one! It won't cost them $30 million to get a settlement and they know it so thats why they took it on. Now 30% of 612 million is a good return on your time invested in this class action but at the cost of shareholders. They are dam right greedy !!!!

2. Are the combined 140B in cash sitting in FnF used to create interest income? Or are they required to keep the cash on banks and let the banks make the interest income?
This can be made up from Bonds, cash on hand in the bank and other things like Secruitys depends on what the FHFA stated how they can hold there money for the cast reserves !

ALL RELEVANT INFORMATION TO DATE: Thanks to those you contributed.

WIN FOR SHAREHOLDERS and final Judgement !
Final Judgement as follows
https://storage.courtlistener.com/recap/gov.uscourts.dcd.163155/gov.uscourts.dcd.163155.421.0.pdf

Allocation of award as follows.
https://storage.courtlistener.com/recap/gov.uscourts.dcd.163155/gov.uscourts.dcd.163155.421.1.pdf

https://www.blbglaw.com/news/updates/2023-08-15-blbg-achieves-significant-trial-victory-in-helping-fannie-mae-and-freddie-mac-shareholders-recoup-612-million-in-class-action-against-us-federal-housing-finance-agency

The jury awarded Freddie Mac shareholders $312 million and Fannie Mae shareholders $299 million for a combined $612 million in damages in the first court case to decide in favor of the GSEs’ shareholders.
This is a small victory, however, as the $612 million represents an extremely small fraction of the billions in dollars in profit the GSEs have subsequently sent to the government. The question of whether the GSEs’ shareholders are entitled to redress has also had a surprisingly tortured case history, with the court’s decision seemingly antithetical to the view of the Supreme Court in Collins v. Yellen. It is likely the FHFA will appeal.
Under the Fifth Amendment, private property cannot be taken for public use by the government without just compensation. Berkley v. FHFA represents the first steps taken in 15 years to provide some financial redress for shareholders. More important, it represents the first time the courts have recognized that the net worth sweep represented a breach of contract that amounted to little more than government seizure of property. If only the same progress could be seen in unwinding the GSE conservatorships.

YOU BET YA ! Lets see what Judge Lambert decisides for FNMA JP's !! I'm in the money !

FHFA's Table 1, which shows the timing and amounts of all FnF draws from Treasury, shows that Fannie has drawn a total of $119.836B. https://www.fhfa.gov/DataTools/Downloads/Documents/HPI/Market-Data/Table_1.pdf

FHFA's Table 2, which shows the timing and amounts of all FnF dividends paid to Treasury, shows that Fannie has paid a total of $181.364B. https://www.fhfa.gov/DataTools/Downloads/Documents/HPI/Market-Data/Table_2.pdf

I think this will help everyone calculate future common and JPS values if any of these play out in release.

kthomp19
Re: trunkmonk post# 508894. Thursday, February 28, 2019 11:49:39 AM
Post# 508927 of 790756 Fannie board.
now look at it from the other side, non bizzarro side

You will have to be way more specific than this. To make a share price estimate, you need to answer the following questions:

1) What is the market cap? (for FnF combined, using combined numbers is much easier)
2) How much capital do they need to raise?
3) What proportion of the companies' equity will the new buyers insist on? (this answer should be higher than #2 divided by #1)
4) Will the warrants be exercised?
5) Will the juniors be offered a conversion? If so, will it be full or partial, and at what rate?
6) Will the seniors be converted to commons? If so, at what rate?
7) If any of #4, $5, or #6 is yes, what order do the four events occur in: junior conversion, warrant exercise, senior conversion, equity raise?

Only then can you actually make an educated estimate.

Let's start with the high end and make everything extremely optimistic.

1) $300B
2) $100B
3) 40%
4) No
5) No
6) No
7) N/A

With 1.8B existing shares, the new buyers get 1.2B so that they have 40% of the total: 1.2B / (1.2B + 1.8B) = 40%. This makes for 3B shares. $300B market cap divided by 3B shares is $100 per share. So we hit your number right on the nose, but it's the absolute highest, top-end number in this model.

However, is it even realistic? Otting said that FnF have to go from $6B in capital to $150-200B. I only used $100B just to be optimistic: this assumes two full years of retained earnings. The $300B number is also higher than any of Moelis's estimates. And this assumes no warrant exercise, meaning that if these new buyers wanted much more than 40%, neither FHFA nor Treasury would have a reason to tell them no. Speaking of Treasury, they get absolutely nothing here: seniors and warrants both get cancelled. Highly unrealistic to me, given Treasury's veto power over release. (For what it's worth, I assign a 0% probability to this scenario)

Changing #1-3 to $250B, $125B, and 66% leads to a share price of $46.30. Still pretty high, but it shows how sensitive the model is to changes on the optimistic end.

Let's toss the warrants in and see what happens:

1) $300B
2) $100B
3) 40%
4) Yes
5) No
6) No
7) Warrants exercised, then equity raise

Exercising the warrants gives 7.2B new shares, or 9B total pre-raise. The new buyers get 6B more shares: 6B / (6B + 9B) = 40%. $300B / 15B shares = $20 per share. So yes, changing #4 from No to Yes really does just straight up divide the answer by 5.

Now add in a junior conversion, with half of shares converted at 4 commons per $25 of par value (slightly above the current market ratio of 3.6:1):

1) $300B
2) $100B
3) 40%
4) Yes
5) Yes, half converted at 4 commons per $25 par share
6) No
7) Juniors converted, then warrants exercised, then equity raise

The juniors get 2.66B new shares: $33.19B / 2 (only half are converted) / $25 * 4 = 2.66B. Then Treasury gets 4 times the new total: 4 * (1.8B + 2.66B) = 17.84B. Now the new buyers get 14.87B to make 40% of the total. This works out to $300B / (1.8B + 2.66B + 17.84B + 14.87B) = $8.07 per share, and Treasury's warrants are worth $144B. This is realistic to me, and I assign a 20% probability here. (Note: the juniors actually end up at 136% of par here)

Lowering the market cap to $250B keeps the conversion and warrant shares the same, but means #3 has to be more than 40%, so I'll use 60%. Then the new buyers get 33.45B shares, and the share price is $300B / (1.8B + 2.66B + 17.84B + 33.45B) = $5.38, so Treasury's warrants are worth just shy of $96B. I think this is highly plausible, and I assign a 50% probability. The prefs end up at 107% of par.

Now let's say that the Fifth Circuit remands the Collins case back down, meaning that the government will have to settle in order to get all the cases cleared out before their timeline runs out at the end of 2020. The seniors will have to disappear, so converting them to commons makes the most sense because it doesn't involve any cash changing hands. The seniors' $193B liquidation preference (par value, if you will) dwarfs the ~$5B in current common market cap, so a senior-to-common conversion at par obliterates the commons: 5B / (5B + 193B) = 2.53% is all they retain, and that's before the equity raise! The juniors would decline any conversion by the way. If we keep #3 at 60%, commons end up with 1% of a $250B company, so their 1.8B shares are worth $1.40 each. I assign a 20% probability here.

Of course, we haven't hit the most pessimistic scenario yet.

1) $250B
2) $235B (Otting's high end minus one year of retained earnings, plus $60B from #5)
3) 99.5% (how high can you go? there's very little room for certainty equivalents here)
4) No (with #3 this high it's not worthwhile anymore)
5) No, but sold back to FnF for $60B
6) No
7) N/A

Now the current commons only get 0.5% of $250B companies, for a $1.25B valuation on their 1.8B shares. That makes $0.69 per share. Treasury makes $60B, not bad, but the best they can do if the new buyers are putting in nearly all the capital. I assign a 10% probability here. Ironically, in this case the warrants never get exercised and the seniors get cancelled!

This is where I get my final share price estimate for the commons.

20% * $8.07 + 50% * $5.38 + 20% * $1.40 + 10% * $0.69 = $4.65. This is a gain of 79% compared to a current price of $2.60 (FNMA/FMCC average)

For the prefs:

20% * $34 + 50% * $26.75 + 20% * $25 + 10% * $25 = $27.68. This is a gain of 185% compared to a current price of $9.70 for FNMAS, and a gain of 246% compared to $8 for some of the other series.

While only one thing will happen, I don't think it's prudent to just make one set of assumptions, and I have an inherent mistrust of models that do.

navycmdr
Re: trunkmonk post# 710426

Saturday, February 05, 2022 10:18:37 AM

Post# 710427 of 790758 Fannie board
Hello ? - if the GOVT is GOING to MAXIMIZE it's RETURN

it will "1st" have to "MAXIMIZE the $COMMON $SHARE $PRICE"

so it can "exercise it's warrants" (which I feel will be ELIMINATED)

Warrants were issued to "ensure LOAN repayment" - ALREADY DONE !!!

REPAYMENT and WARRANTS :

https://thetruthaboutfannieandfreddie.wordpress.com/2016/11/12/repayment-and-warrants/amp/?__twitter_impression=true

There has been much debate on whether Fannie and Freddie ever had the ability to repay the money that the Treasury forced upon them. Many in the government — and even in the media — claim that Fannie and Freddie lack the option to repay the money received from Fan/Fred by Treasury by stating that it is merely a return on investment.

However, reviewing this attached Treasury report published in 2012 it clearly states that Treasury believed then that Fan/Fred had not only the ability to repay, but also states repayment was likely.

Further, Treasury makes it clear that the warrants were merely a vehicle to recoup the investment into the entities. So, if all the money is returned to the Treasury, the warrants are pointless. This Treasury document claims nothing about “punitive terms” or “risk/reward return.” No, it clearly describes the purpose of the warrants — to recoup the original investment.

The following passage appears on page 8 of the Treasury report:

“Probability of the Enterprises and the FHLBs fulfilling the terms of their obligations – The structure of the PSPAs, with their liquidation preference over all other equity, including preferred equity, combined with the PSPAs’ restrictions on debt issuance, enhance the probability of both Fannie Mae and Freddie Mac ultimately repaying amounts owed.

Need to maintain the Enterprises’ and the FHLBs’ status as private shareholder-owned companies – Fannie Mae and Freddie Mac may emerge from conservatorship to resume independent operations, or they may emerge in some other form reflecting legislative changes to their congressional charters. Conservatorship preserves the status and claims of the preferred and common shareholders. The value of the warrants issued to the government under the terms of the PSPAs could potentially increase, thereby providing enhanced value to the taxpayers. Upon the government’s exercise of the warrants, the GSEs would be required under the terms of the PSPAs to apply the net cash proceeds to pay-down the liquidation preference of the senior preferred stock.”

The Treasury report can be found here:

https://www.treasury.gov/about/budget-performance/Documents/CJ_FY2012_GSE_508.pdf

Patswil
Re: Wingsjr post# 789415 Thursday, March 21, 2024 10:44:02 AM

Post# 789420 of 790758 Fannie board.

f6.7. Effect of Order; Injunction; Decree. If any order, injunction or decree is issued by any
court of competent jurisdiction that vacates, modifies, amends, conditions, enjoins, stays or otherwise affects the appointment of Conservator as conservator of Seller or otherwise curtails Conservator’s powers as such conservator (except in each case any order converting the conservatorship to a receivership under Section 1367(a) of the FHE Act), Purchaser may by written notice to
Conservator and Seller declare this Agreement null and void, whereupon all transfers hereunder
(including the issuance of the Senior Preferred Stock and the Warrant and any funding of the
Commitment) shall be rescinded and unwound and all obligations of the parties (other than to
effectuate such rescission and unwind) shall immediately and automatically terminate.
6.12. Non-Severability. Each of the provisions of this Agreement is integrated with and integral to the whole and shall not be severable from the remainder of the Agreement. In the event
that any provision of this Agreement, the Senior Preferred Stock or the Warrant is determined to
be illegal or unenforceable, then Purchaser may, in its sole discretion, by written notice to Conservator and Seller, declare this Agreement null and void, whereupon all transfers hereunder (including the issuance of the Senior Preferred Stock and the Warrant and any funding of the Commitment) shall be rescinded and unwound and all obligations of the parties (other than to effectuate such rescission and unwind) shall immediately and automatically terminate.

https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/2008-9-26_SPSPA_FannieMae_RestatedAgreement_N508.pdf

Agreed ! $10 to $15 range for commons after IPO and warrants issued ! I hate to say that but in my view the Gov should just hand back the companies and the $$ they stole but thats never going to happen ! Then Catbird would be spot on with his $325 per share common.

But if they cash in the warrants then what are we looking at? Some say $12 to $15

LOOK AT IT THIS WAY !

If you had the DOJ in your pocket why wouldn't you instruct one of your lawyer buddys to go out find a case let the planif win some huge award FROM THE GOVERNMENT get paid a 30% lawyer fee and 10% for the BIG GUY !!!!

FANNIE MAE & FREDDIE MAC COURT AWARD
$612,000,000 / 30% = $183,600,000 PAYOUT FOR LAWYERS / 10% = $18,360,000 FOR THE BIG GUY !!!!!

Of course he knows he's one of Bidens buddies! Why do you think they got this far? If Gov doesn't appeal and he gets his 30% lawyer fee from the $612 million court award and DON'T FORGET THE 10% FOR THE BIG GUY !!! I wouldn't be surprised !!!!!

The BIDEN admin will not cash in the warrants because 40% of all money printed since 1913 has been printed in the last 3 years!

I NEW IT ! Most Pro Bono cases are around 25% He an't doing this out of the kindness of his heart !!!!

his $180 mll bonus (a 30% cut of the $600 million awarded by the jury that would, in turn, be passed down to all the attorneys in the Fanniegate scandal for their con job during 10 years) and back dividends to the hedge funds that hold the Non-Cumulative dividend JPS.

Hes being truthful and letting us down slowly that there is no fast track to payout and release. Just like the last 15 years of conservorship the Gov has dragged it's feet to cover up the corruption.

As always with a HOT STOCK a pull back is normal even the charts shows us this after the last 2 run ups! HOLD YOUR SHARES !! Dec 26th and Jan 24th
FNMA


FMCC

I don't understand why people can't read legal contracts. NON CONVERTIBLE MEANS just that. Many class shares state that in there contracts. JPS owners turned them down once and they will keep doing it until they get par!
Read any of the legal contracts here
https://www.quantumonline.com/ParentCoSearch.cfm?tickersymbol=FMCC

Oh so you mean $2 by this Friday ? Cool

Final judgement is over! You are either In for the payout or out !

So at a guess I’d say investors are switching to commons as the upswing continues once it levels out switch back

Was this the one from a year ago ?

A Blast from the past ! Will this be on the desk of the Next POTUS come November ??

Your properly right I didn't look at it close enough. But they are the only ones allow to convert.

Yes understood with a new board voted in by shareholders but what if they decide to stall or limit until fully caped !

This is the only JPS that can be converted ! 1 JPS to 94 common https://www.quantumonline.com/search.cfm?tickersymbol=FNMFO&sopt=symbol

But what happens if Fannie & Freddie are finely released and an IPO is done but Dividends are not turned on for common or JPS, then what ?

I took a look yesterday at the 11 month chart and discovered that within days of TD Ameritrade selling and moving to Swab the MAD 200 line reversed ! Instead of slowly heading down it's been heading up every since. Did TD exit there positions before moving to Swab, could that have any reason why we hit the 40's cents mark for a while. Also as soon as it traded on swab the price has gone up ever since as well.

Look at the behavior since then? Interesting TD did nothing to promote or trade the stock. But Swab has been. I wonder if they employ traders to day trade or pump and dump every up swing?? It wouldn't be hard to do now as the up swings are easy to predict. I new it was time for a cool down drop 5 to 10 cents after thursday got ahead of it self. 5 straight days of upwrd flow theres alway a cool down and the Full Socastics showed that as it hit 96 % the slow and fast lines have cross signaling a downward consolidation.

Got the link maybe alot of us common shareholders should send in complaints

Someone Say Fannie Mae Pizza ???? Yum count me in ! Yer sounds a bit fishy to me ! I little pull back today things got outta hand yesterday so a little cool down is healthy. Why out of the Blue did Judge Lambert finalize the judgement 2 days ago??? Did any of the partire file anything recently? Seems strange all of a sudden........

Thanks Navy and thanks for the email replies. ! The links have been posted on the sticky post with all info I have. Please if anyone has more links and info that should be kept as a reference to revert back to post them and I'll update the sticky post. Thanks

Pre Covid we were mid $3.50 to $3.70 I suspect we get back around pre Covid levels soon !!

I agree it will take time. Also the judge awarded interest until full payment of award so there will be more $$$ until uncle Saggy PAYS UP !!!

SHORT VOLUME currently around 34% !!!! they will get burned !!!!

Thank you ! Let’s all hold our breath the Gov doesn’t appeal

Thanks !

So just reading over the final judgment again. I see on page 4 (Attorney fees) to be added. Does this mean there fees come out of the settlement award ?? Sounds like it !
IT IS FURTHER ORDERED AND ADJUDGED that the Court shall retain jurisdiction to
award attorneys’ fees and nontaxable costs and expenses in this action, out of the final judgment
amounts, to counsel for Lead Plaintiffs/Class Representatives. In accordance with Federal Rules
of Civil Procedure 54(d)(2) and 23(h), the Court extends the deadline for Lead Plaintiffs/Class
Representatives and their counsel to make a motion for such attorneys’ fees and costs beyond the
https://storage.courtlistener.com/recap/gov.uscourts.dcd.163155/gov.uscourts.dcd.163155.421.0.pdf

I wonder what there invoice will charge !

I don't know that's why I'm asking if I have the calculation correct !