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Uncertainty & manipulation = unhappy stockholders
FHFA Said to Seek $6 Billion Minimum in JPMorgan Talks
http://www.bloomberg.com/news/2013-08-27/fhfa-said-to-seek-6-billion-minimum-in-jpmorgan-talks.html
U.S. seeking $6 billion from JPMorgan to settle mortgage claims: source
http://www.reuters.com/article/2013/08/27/us-jpmorgan-mbs-idUSBRE97Q0YE20130827
precedent setting...
JPMorgan liable to billionaire Blavatnik over mortgage losses
http://www.reuters.com/article/2013/08/26/us-jpmorgan-blavatnik-idUSBRE97P0SD20130826
sorry --prior link was wrong one
precedent setting...
JPMorgan liable to billionaire Blavatnik over mortgage losses
http://www.windowsreinstall.com/winre/createfromiso/#.UhqZSdKsiSp
Fannie Mae (FNMA) Issues Surprise Jump in Q3 Refi Volume Forecast
http://www.streetinsider.com/Analyst+Comments/Fannie+Mae+(FNMA)+Issues+Surprise+Jump+in+Q3+Refi+Volume+Forecast/8627110.html
Fannie Mae Mortgage Rates: Mortgage Yields Make Huge Climb Last Week
I recall hearing some guy say FNMA would be in the money when 30 year mortgages hit %5
http://southerndailypress.com/fannie-mae-mortgage-rates-mortgage-yields-make-huge-climb-last-week-13048.html
F-15-Retire on Iggy--toodles
Justice Department Plans New Crisis-Related Cases
http://online.wsj.com/article/SB10001424127887323423804579025262544041336.html
Eric Holder vows Wall Street prosecutions on the way — and soon
By Cheryl K. Chumley-The Washington Times Wednesday, August 21, 2013
**FILE** Attorney General Eric Holder, the nation's top law enforcement official, testifies on Capitol Hill in Washington on May 15, 2013, before the House Judiciary Committee oversight hearing on the U.S. Department of Justice. (Associated Press)
Enlarge Photo
Just because it’s been five years since the nation suffered a dramatic economic hit from Wall Street corporate losses doesn’t mean prosecutions aren’t coming, said Attorney General Eric Holder, on Tuesday.
In fact, it’s just the opposite, he said. Mr. Holder vowed he wasn’t leaving his government position until businesses have paid the price for the financial drag he faults them for creating.
SEE ALSO: Eric Holder proposes changes in criminal justice system
“My message is, anybody who’s inflicted damage on our financial markets should not be of the belief that they are out of the woods because of the passage of time,” he said, in an interview with The Wall Street Journal. “If any individual or any institution is banking on waiting things out, they have to think again.”
Mr. Holder said prosecutions are coming — and soon.
“I expect to be here to announce a series of significant matters that we’ll be brining,” he said, Newsmax reported.
Mr. Holder didn’t disclose the targets of the prosecutions, or the specifics of the charges. But his vow to be around to announce the charges would seem to suggest that the prosecutions are coming before the end of the year. Various insiders have said Mr. Holder was planning on leaving his Justice Department post before 2013 wraps, Newsmax said.
He didn’t specify, either, if the charges would be criminal or civil in nature. But he did say that his general tone to prosecutors around the nation has been: “Remain aggressive and pursue these kinds of cases.”
Read more: http://www.washingtontimes.com/news/2013/aug/21/eric-holder-vows-wall-street-prosecutions-way-and-/#ixzz2ceIs8Q1T
Follow us: @washtimes on Twitter
The Real "EState" (sp) industry will not allow government to do away with F&F Realtor Associations are huge, they will fight until F&F are left alone and allowed to thrive again.
The FHFA noted the new accounting methods would involve "changes in a significant policy," and as a result require a lengthy implementation period. The regulator consulted with Fannie Mae and Freddie Mac and has allowed the mortgage companies until January 1, 2015, to make all of the adjustments, which will be rolled out in stages.
Looks like the FHFA intends on keeping them around for a while....
They're probably trying to figure out how to circumvent the law
They're all unheard of, because the PPS is so low
Serious institutions can't invest in a shaky speculative stock with an uncertain future
ZERO PM trades today
That's funny
GSE delay in bad loan recognition masking billions in losses • 10:23 AM
Those Fannie Mae (FNMA.OB +3.7%) and Freddie Mac (FMCC.OB +3.1%) profits that everybody wants a piece of may not be as high as reported.
The GSEs are masking billions of losses on delinquent loans because of the way they account for them, according to an FHFA report seen by Reuters. The inspector general's study says the companies are allowed an "inordinately long" two years to recognize the cost of 180-day delinquent mortgages.
Accounting changes are on the way, but the FHFA - noting the significance of the new policy - is allowing the companies until 2015 to make the adjustments and even then they'll be rolled out in stages. Neither Fannie nor Freddie have yet to publicly disclose the changes.
Accounting rules allow F&F to hide loss and declare profit to pay treasury? I believe something is terribly wrong here.Shareholders still exist they are not dead yet.I don't know if share holders have a say in this.This is like some one comes to protect a company and steals from it?
The FHFA noted the new accounting methods would involve "changes in a significant policy," and as a result require a lengthy implementation period. The regulator consulted with Fannie Mae and Freddie Mac and has allowed the mortgage companies until January 1, 2015, to make all of the adjustments, which will be rolled out in stages.
Looks like the FHFA intends on keeping them around for a while....
The FHFA noted the new accounting methods would involve "changes in a significant policy," and as a result require a lengthy implementation period. The regulator consulted with Fannie Mae and Freddie Mac and has allowed the mortgage companies until January 1, 2015, to make all of the adjustments, which will be rolled out in stages.
Looks like the FHFA intends on keeping them around for a while....
Very good Article
What's the buzzz..tell me what's a happening
What's the buzzz..tell me what's a happening
When is OB back to work? Enough lollygagging
When is OB back to work? Enough lollygagging
PPS more like $40bill/1.2B=$33.00
The equation to perform PPS calculations is net income minus preferred dividends divided by number of common shares outstanding
*The value of a share = $ 3.14T/1.2B = $ 2616.66666667
*some poster on Yahoo says PPS should be $ 2616.66666667
Where does this guy come up with 3.14T?
It's more like $40bill/1.2B=$33.33
Those one time DTA's can't be considered IMO
The value of a share = $ 3.14T/1.2B = $ 2616.66666667
some poster on Yahoo says PPS should be $ 2616.66666667
http://finance.yahoo.com/mbview/threadview/;_ylt=Am.ufOqwYVG0n7tl3ALGdv3eAohG;_ylu=X3oDMTB2ZGIxYzhiBHBvcwMzMQRzZWMDTWVkaWFNc2dCb2FyZHNYSFJVbHQ-;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3?_media.modules.msgboards.switches._enable_mbv2=1&bn=e0e2b58d-64fb-37a2-9273-29a5ce093d80&tid=1376676852861-a3de70c1-f611-4440-8c05-cd555d324c08&tls=la%2Cd%2C4%2C3
Are we Baaaaack Baby?
Are we Baaaaack Baby?
How can the bis/ask be $1.31/1.32 and 13.4k trades go through ar $1.15
I don't think you can base tomorrows PPS on a possible computer snafu....Did I miss some news?
I wonder why the 70-80 million dump this week
wow--recovered in spite of the DOW off by 188 pts---lookin very good
If you think reform of the mortgage system which includes ridding the world of Fannie (FNMA) and Freddie (FMCC) is likely you might want to consider this.
Fannie Mae said it will make a $10.2 billion dividend payment in September to the U.S. Treasury for its rescue aid. After that payment, which comes on the heels of nearly $60 billion Fannie sent to the government last quarter, it will have paid about $105 billion in dividends to the Treasury, roughly 90 percent of the $117.1 billion it received in taxpayer assistance.
Meanwhile, Freddie Mac, which on Wednesday reported its second-largest profit ever, $5 billion, will be sending Treasury a $4.4 billion check next month. That will bring its running total to about $41 billion, or close to 60 percent of the $71 billion in bailout funds provided to Freddie.
Under the terms of the bailout agreement, both mortgage companies are only allowed to hold $3 billion in net worth and all profit in excess of that goes back to taxpayers.
Moreover, none of the dividend payments goes toward repaying the $188 billion in rescue funds, which were provided by the government and gave it a controlling stake in the form of preferred shares. Neither company has the option of buying back the stakes, which is one of the big questions regarding their future.
That’s one hell of a big cash cow to legislate out of existence, particularly when you’re scraping around for revenue.
If you think reform of the mortgage system which includes ridding the world of Fannie (FNMA) and Freddie (FMCC) is likely you might want to consider this.
Fannie Mae said it will make a $10.2 billion dividend payment in September to the U.S. Treasury for its rescue aid. After that payment, which comes on the heels of nearly $60 billion Fannie sent to the government last quarter, it will have paid about $105 billion in dividends to the Treasury, roughly 90 percent of the $117.1 billion it received in taxpayer assistance.
Meanwhile, Freddie Mac, which on Wednesday reported its second-largest profit ever, $5 billion, will be sending Treasury a $4.4 billion check next month. That will bring its running total to about $41 billion, or close to 60 percent of the $71 billion in bailout funds provided to Freddie.
Under the terms of the bailout agreement, both mortgage companies are only allowed to hold $3 billion in net worth and all profit in excess of that goes back to taxpayers.
Moreover, none of the dividend payments goes toward repaying the $188 billion in rescue funds, which were provided by the government and gave it a controlling stake in the form of preferred shares. Neither company has the option of buying back the stakes, which is one of the big questions regarding their future.
That’s one hell of a big cash cow to legislate out of existence, particularly when you’re scraping around for revenue.
Government needs those behind mortgage mess to fix it-link
http://seekingalpha.com/currents/post/1220332
America’s Shrinking Deficit: Get Positioned For The Taper-link
http://etfdailynews.com/2013/08/14/americas-shrinking-deficit-get-positioned-for-the-taper/
volume today= 783,300
serious volume
tree has been shaken