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Sellers over Buyers 2/1
https://ih.advfn.com/stock-market/USOTC/fannie-mae-qb-FNMA/trades
OH YEAH BABY!!!!!
https://www.fhfa.gov/conservatorship/documents/senior-preferred-stock-agree/fnm/spspa-amends/fnm-spspa_09-07-2008.pdf
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(including the issuance of the Senior Preferred Stock and the Warrant and any funding of the Commitment) shall be rescinded and unwound and all obligations of the parties (other than to effectuate such rescission and unwind) shall immediately and automatically terminate.
So...how long until we get an FNMA win?
Tomorrow?
Katie Buehler-@bykatiebuehler
BREAKING: A DC federal jury found the @FHFA wrongly amended stock purchase agreements related to the governments bailout of @FannieMae & @FreddieMac and awarded shareholders $612.4 million in damages,
·
Stock need to be relisted to the NYSE before any major price movement
Getting volume people
Will it be halted?
Epic PPS upward movement next
Volume is picking up
FNMAS Taking off
Katie Buehler @bykatiebuehler
Attorneys presented closing arguments in DC federal court today over
@FannieMae
&
@FreddieMac
shareholders' claim that the
@FHFA
in 2012 improperly amended terms of the companies' 2008 bailout plan to allow Treasury to sweep up the pair's net worths.
(Warning: long🧵)
Show more replies
Katie Buehler
@bykatiebuehler
The shareholders added the FHFA's DTA argument is "utterly insane."
They warned the jury that there are "two sides to the story, but only one set of facts."
Katie Buehler
@bykatiebuehler
·
14m
The jury will begin deliberations in the case at 10 a.m. tomorrow after they're read final instructions by the judge.
Katie Buehler @bykatiebuehler
43m
DeMarco distanced himself even further than he had before from the veracity of documents indicating he believed the two companies would soon be generating significant revenue. Shareholders say those statements provide key evidence in suit seeking $1.6B.
law360.com
Ex-FHFA Director Differs Testimony In Fannie, Freddie Retrial - Law360
Former Federal Housing Finance Agency acting Director Edward DeMarco seemingly altered aspects of his testimony Tuesday in the retrial of Fannie Mae and Freddie Mac shareholders' claims that the...
Katie Buehler
@bykatiebuehler
·
42m
DeMarco also distanced himself from accusations he had other motives for agreeing to the amendments based on his belief that the government shouldn't be involved in the housing market. DeMarco denied that motivated him - something he didn't do last time.
law360.com
Ex-FHFA Director Differs Testimony In Fannie, Freddie Retrial - Law360
Former Federal Housing Finance Agency acting Director Edward DeMarco seemingly altered aspects of his testimony Tuesday in the retrial of Fannie Mae and Freddie Mac shareholders' claims that the...
@FnFGateFan
My Dear #Fanniegate Fans, this may be my final trial summary and by pure coincidence it was a pretty exciting day with DeMarco's testimony on the NWS and the beginning of Ps cross. If you are expecting the same thing as last time you are in for a few surprises!
11:02 PM · Aug 8, 2023
·
2,455
Views
My Dear #Fanniegate Fans, this may be my final trial summary and by pure coincidence it was a pretty exciting day with DeMarco's testimony on the NWS and the beginning of Ps cross. If you are expecting the same thing as last time you are in for a few surprises!
— FnFan (@FnFGateFan) August 9, 2023
Totally irrelevant-----stocked traded 1000 shares today.....10 trades of 100 shares each
See all of Katie Buehler's comments--not just what Navy posts
https://twitter.com/bykatiebuehler
All selling today-SEE LINK
https://ih.advfn.com/stock-market/USOTC/fannie-mae-qb-FNMA/trades
Fanniegate Hero
@DoNotLose
·
21m
Shareholders submitted a reply in support of their request to modify the verdict form $FNMA #FANNIEGATE https://glenbradford.com/2023/08/fannie-freddie-consolidated-class-action-22/
DeMarco himself is now on the stand. The shareholders elicited testimony from him that while the FHFA had a “team of people” analyzing a parallel proposal that would’ve forgiven mortgage principals for certain homeowners, there was no such team analyzing the net worth sweep.
Katie Buehler
@bykatiebuehler
·
1h
SEEN: Ex-
@FHFA
Acting Director Ed DeMarco in the security line at the DC federal courthouse. He will testify later today in a trial over claims the agency improperly amended stock purchase agreements in 2012 to allow Treasury to sweep up
@FannieMae
&
@FreddieMac
net profits.
Katie Buehler
@bykatiebuehler
·
22m
Here's what DeMarco said last time around. The style of testimony he gives today might be slightly different since he's being called solely as a defense witness, instead of a witness for both sides.
Day 1:
Day 2:
Who said anything about selling?
sell a major portion and invest in 15-25 high yield decent stocks
diversified portfolio is the only way to go
PPS should be $293//share
20/1.16 X 17 PE=293.00
($5Net x 4qtrs)/1.16 billion shares X 17 PE=$293
Thanks Robert
bradfoooord---that's who
Buyers over sellers 5/1--link
https://ih.advfn.com/stock-market/USOTC/fannie-mae-qb-FNMA/trades?pid=trades&symbol=USOTC:FNMA
The Buyers just stepped up--@10:06 am
https://ih.advfn.com/stock-market/USOTC/fannie-mae-qb-FNMA/trades
Thanks Robert
very good news
Volume is 2.5/1 sellers over buyers
https://ih.advfn.com/stock-market/USOTC/fannie-mae-qb-FNMA/trades?pid=trades&symbol=USOTC:FNMA
2 --500K sells and a 1,000,000 share sells
US Senate confirms Bernstein as top White House economist
Reuters
June 13, 20238:51 PM EDTUpdated a day ago
Senate Banking Committee holds nominations hearing on Capitol Hill in Washington
https://www.reuters.com/world/us/us-senate-confirms-bernstein-top-white-house-economist-2023-06-14/
Posted by: Wise Man
In reply to: bradford86 who wrote msg# 757395
Date: 06/11/2023 06:13:36 AM
Post #: 757,398 of 757,417
JPS's fair value today =6% of par value.
FnF record the JPS on the Balance Sheet at their par value $25 or $50. $33B in total. But a different thing is their market price they should be trading at, according to a fair value that we can assessed today, discounting all the fraud and illegal actions that the JPS holders are delighted with.
A conversion JPS to Common Stock is wishful thinking. Here's why:
First, the conservator is barred from authorizing a haircut on the JPS par value, because it's recorded in Core Capital and its mandate is the Recapitalization: Put FnF in a sound and solvent condition.
Second. They have performed as they are meant to be. A non-cumulative JPS is core capital due to its loss-absorbing capacity with the dividend suspended for Capital adequacy purposes, unlike the cumulative dividend SPS.
Third. The fair value of the JPS (a fixed-income security) in the absence of dividend payment (coupon), trades at an annual 6% discount rate to par value, like the 30-year zero coupon callable Medium Term Notes in FnF.
6% rate is what the hedge funds demanded in these MTNs, when they were issued to defraud FnF in early Conservatorship, thinking that no one would notice it (screenshots on Twitter)
With an adjusted $400B capital shortfall over Minimum Leverage Capital requirement that marks the Undercapitalized threshold, it means that it would take 16 years to meet it (the Risk-Based Capital requirement for the Adequately Capitalized threshold, is lower). One year more to meet the 25% of the Capital Buffer threshold that determines the date of dividend resumption per Table 8 of the Capital Rule, and it's not until then when the JPS's fair value fetches its par value. 17 years at a 6% discount rate, the fair value is approximately 6% of par value.
[Suppressed Image]
Fourth. Therefore, in the case of a haircut today, it'd be a 94% haircut in the JPSs.
Fifth. The JPSs are non-convertible securities.
[Suppressed Image]
Sixth. The dividend was impeccably suspended:
-Restricted by law when undercapitalized.
-Suspended by the conservator is authorized in its contract.
-No legally available funds for distribution as dividend, out of a Retained Earnings account with deficit all along (Latest: adjusted $-216B)
[Suppressed Image]
Seventh. A Conservatorship cannot be used for the assault on the ownership of FnF, the Common Stock.
Eighth. The JPS get a higher dividend rate than the interest rate on similar obligations, due to this risk of dividend suspension for Capital adequacy matters. Now the Risk-Based Capital requirement is 189% and 258% higher than 2008, in FNMA and FMCC, respectively. Let alone the statutory FHEFSSA Minimum (Leverage) Capital requirement that was 0.45% of the off-balance sheet obligations (MBS Trusts) and now, it's 2.5%. They have suffered Regulatory Risk. Blame the FHFA.
Ninth. Talk about restructuring 15 years into a Conservatorship, is crazy. The idea that all the actions by the conservator are legal, is crazy, regardless of the financial illiterates and crooked courts, that are precluded from getting involved in the Conservatorships.12 U.S. Code § 4617 (f)
BOTTOM LINE
Their desire to tumble the Common Stock price with all this noise of Court news, nowadays with "cramdown", etc, will backfire.
With the Separate Account plan according to the Law, Rules and Finance, it's estimated that the fair value of the JPSs fetched their par value in mid 2022 in Freddie Mac and the third quarter in Fannie Mae.
[Suppressed Image]
They succeeded just because the Common Stock succeeded first, as for the threshold of dividend resumption, the Common Equity has to be built in the first place, avoiding any threat of dilution as a result.
The JPS holders will get the par value of their stocks in full, whether they want it or not!
The penalties for peddling the Govt theft story in formal documents will be devastating, plus penalties on the independent auditors that helped the conservator FHFA to commit the 8 Securities Law violations.
I was asking Wise Man..not YOU
this is awesome---How Much longer until we are set free?
Buyers have stepped up -3/1 over sellers
https://ih.advfn.com/stock-market/USOTC/fannie-mae-qb-FNMA/trades
Navyard? Is that 10,000 @0.447 a buy or a sell?
Incidentally, Biden will be signing the bill tomorrow.
Might be the catalyst for lift off
Sellers way over buyers--in spite of good news--we must be closing in
https://ih.advfn.com/stock-market/USOTC/fannie-mae-qb-FNMA/trades?pid=trades&symbol=USOTC:FNMA
HuntbeachEDwhale should find a new Gig
volume picking up
HERA struck the section of the FHEFSSA "mandatory release from conservatorship" when FnF become Undercaptitalized again, which implied that FnF must build capital while in conservatorship. They could be release at the FHFA Director's discretion, which is still in place regardless of not being written in the law.