something me and you share , fun.
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This is a country no one lives above the law!
one morning markets open at 12$ a share correction ( I hope)! GL
HUD Sec Ben Carson Readies To Fix Obama Illegal System Many Didn’t Know About!
http://waynedupree.com/hud-sec-ben-carson-readies-to-fix-obama-illegal-system-many-didnt-know-about/amp/
HUD poised to end Obama's illegal Section 8 housing grant scheme
by Todd Shepherd | Aug 7, 2017, 12:01 AM Share on Twitter Share on Facebook Email this article
http://www.washingtonexaminer.com/hud-poised-to-end-obamas-illegal-section-8-housing-grant-scheme/article/2630660
FHFA Director Mel Watt expressed concern earlier this year. Before authorizing a full sweep of profits in the first quarter, he told congress he was concerned about the planned drawdown and not to be surprised if he took steps to protect some of the GSE's capital buffers. The GSEs clearly had this in mind when Freddie and Fannie announced $2.0 billion and $3.1 billion dividends respectively, but in only slightly different words, said they would only pay whatever the FHFA directed them to pay. In other words, if the FHFA declares the dividends to be less than $2.0 and $3.1 billion respectively, the GSEs would net the difference to their capital buffers. Simply put, the GSEs are saying 'we'll keep any capital reserves that FHFA allow us to keep!'
That was the most interesting part of this week's earnings releases, and here are the nitty gritty numbers underlying them:
Fannie Mae's net income is an increase from its net income of $2.8 billion for the first quarter of 2017. The increase was due primarily to an increase in credit-related income, from $179 million to $1.233 billion and a shift to investment gains ($385 million) in the second quarter from investment losses ($9 million) in the first quarter. This was partially offset by higher fair value losses on the company's risk management derivatives.
Net revenues, consisting of net interest income and fee and other income, were $5.4 billion for the second quarter of 2017, compared with $5.6 billion for the previous period. Net interest income alone was $5.0 billion for the second quarter of 2017, compared with $5.3 billion for the first quarter of 2017. The decrease was due to lower guaranty fee income from decreased amortization income arising from lower refinance activity.
The company said it continues to increase the role of private capital in the mortgage market and reduce the risk to its business, to taxpayers, and the housing finance system through its credit risk transfer transactions, which transfer a portion of the mortgage credit risk on some of the recently acquired loans in its single-family book of business. As of June 30, 2017, $798 billion in single-family mortgages or approximately 28 percent of the loans in the company's single-family conventional guaranty book of business, measured by unpaid principal balance, were covered by a credit risk transfer transaction.
http://www.mortgagenewsdaily.com/08032017_gse_financial_results.asp
$FNMA #FANNIEGATE
Posted on August 3, 2017
Discovery isn’t over in Fairholme v. U.S. Under seal, Fairholme filed a second motion to compel this afternoon in order for its lawyers and other parties to Judge Sweeney’s protective order to obtain access to documents the government continues to claim are privileged. A redacted copy of today’s filing (Doc. 384) should be filed in the coming days or weeks.
S PrevNext s
http://www.glenbradford.com/2017/08/fnma-fanniegate-593/
We’ve returned $108.2 billion to taxpayers, more than 150% of what we received from the U.S. Treasury.
http://www.freddiemac.com/better-housing-finance/?__prclt=QpNokKPI
More News :
President Obama never was shy about using his phone and pen to achieve what he could not get from Congress on regulatory matters.
But documents revealed last week show the Obama administration may have been willing to get around congressional decisions on spending by using a slush fund of sorts funded by the profits of Freddie Mac and Fannie Mae, the two government-sponsored home loan giants.
Read more: http://www.americanthinker.com/articles/2017/07/obama_looted_fannie_mae_and_freddie_mac.html#ixzz4oEbwXQGb
Follow us: @AmericanThinker on Twitter | AmericanThinker on Facebook
lol thank for good weekend's Joke! FnF will be 12$ a share or more but i don't know when....! http://m.benzinga.com/article/9840251?utm_referrer=https%3A%2F%2Ft.co%2FTTVDBmzxUR%3Famp%3D1
ha ha have a good weekend all lol
buffet capital actions !
correction 12$ a share in Monday maybe
In addition to being the largest individual purchaser of government securities, the Fed holds $1.770 trillion in mortgage-backed securities that are issued primarily by government-backed entities. They include the Government National Mortgage Association (Ginnie Mae) -- a wholly owned government corporation -- as well as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Mortgage Corporation (Freddie Mac). Fannie Mae and Freddie Mac are nominally private institutions but have been operating under government conservatorship since 2008.
The Fed's policy of purchasing securities, both Treasuries and mortgage-backed instruments, has been criticized in some circles. Various economists and politicians, both Democrat and Republican, have voiced concerns about the vast amount of money that has been injected into the economy as well as the magnitude of the debt created through QE. The fear is that the substantial increase in funds will lead to inflation and higher interest rates.
http://www.al.com/opinion/index.ssf/2017/07/understanding_the_national_deb.html
CNBC , Bloombeg and more big News wil ..... The Truth of FnF "Bail out"
https://www.bloomberg.com/amp/news/articles/2017-07-28/new-documents-give-hope-to-fannie-shareholders-seeking-redress
Thank you nice ! That why they bought 600k shares !
Good day for FMNA investors !http://www.cnbc.com/video/2017/07/25/unsealed-documents-show-fannie-freddit-bailout-details.html?play=1
Unsealed documents show Fannie, Freddit bailout details
17 Hours Ago
Dick Bove, Rafferty Capital, and Josh Rosner, managing director at Graham Fisher & Co., are back to discuss details about Fannie Mae and Freddie Mac bailout details from the US treasury.
http://www.cnbc.com/video/2017/07/25/unsealed-documents-show-fannie-freddit-bailout-details.html?play=1
sometimes it requirerequires a little brain to understand ! Thank you for reading
Mortgages: The Danger of Capital-Free GSEs
While such huge and universal issues as healthcare and tax reform dominate the headlines from Capitol Hill, lurking in the background is the trillion-dollar question of what to …
http://www.nuwireinvestor.com/mortgages-danger-capital-free-gses/
Fannie Mae, Freddie Mac: Sweeney rejects FHFA’s blanket claim to deliberative process privilege
http://www.valuewalk.com/2014/07/fairholme-favorable-ruling-in-fannie-mae-freddie-mac-case/
95%right
Fannie Mae and Freddie Mac Would Be Privatized Under Proposed House Budget
https://www.thestreet.com/story/14233125/1/fannie-mae-and-freddie-mac-would-be-privatized-under-proposed-house-budget.html
YELLEN may says something
The settlement with the FHFA relates to the mis-selling of mortgages to the US government-backed loan firms Fannie Mae and Freddie Mac prior to the 2008 financial crisis, when RBS was among the biggest players on Wall Street.
RBS executives have been keen to agree a settlement as soon as possible as they continue their efforts to return the bank - which is more than 70%-owned by British taxpayers - to profit for the first time since 2007.
http://news.sky.com/story/rbs-on-brink-of-settling-chunk-of-pre-crisis-us-mortgage-probe-10938424
Create a Capital Buffer:
Fannie Mae and Freddie Mac should begin rebuilding a capital buffer now, which could be done through a suspension of the dividend being paid on the preferred stock held by the U.S. Treasury. The guarantee fees being charged by Fannie Mae and Freddie Mac include the cost for holding capital reserves in case of future losses.
The Enterprises should retain earnings for the purposes of building the capital buffer they are charging the market to hold, consistent with prudential management of financial institutions, and to avoid any market uncertainty.
Continue and Expand Reform:
Maintain a strong independent regulator, FHFA.
Full FHFA oversight and approval of operations, capital requirements, fees, charges and prudential standards.http://thecmla.com/cmla/2017/06/28/cmlajoint-statement-on-gse-reform-principles/