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Sure you can margin FNMA--- can margin anything basically
Margin caLLS will force more dumping
OMFG-----WTF is going on?
Saw a block of 576,287 @ $1.30
THey are not to be trusted, for sure
BTW Volume GS is really low
I'll have 10 years in December
“I don’t agree with the president,” Reid told KNPR’s Dave Becker Friday morning during an episode of the radio program State of Nevada. “I’m going to look closely at his recommendations, but on the face, I don’t like them.”
Sepaking in Phoenix on Tuesday, Obama endorsed congressional efforts to end the role of government-backed Fannie Mae and Freddie Mac in insuring home loans and transferring more of their risk management responsibilities to the private sector
“The good news is, right now there’s a bipartisan group of senators working to end Fannie ad Freddie as we know them,” Obama said. “And I support these kinds of reform efforts.”
But Reid plainly does not.
“He says he wants to get rid of [Fannie and Freddie]. We’ve got to be very, very careful doing that,” Reid said. “I have no problem looking at them, revamping. But I think getting rid of them is not the right thing to do.”
A group of bipartisan Senate lawmakers, including Nevada Sen. Dean Heller, introduced a plan to wind down Fannie and Freddie in June. They hope to work on the legislation this fall.
Not until PPS is $4.00 or higher
THis ARTICLE IS AT LEAST 4 YEARS OLD
The plan intends to give the shareholders of Fannie and Freddie an opportunity to realize the value of these assets.
http://www.restorefanniemae.us/aei
INTRODUCTION AND SUMMARY
The purpose of requiring an AA-equivalent rating is to prevent Fannie and Freddie from using their continuing GSE status to attract capital and support their operations, while transferring most of their assets to the holding company. The purpose of requiring that they spin off copies of their automated underwriting systems is to assure that, even as privatized companies, Fannie and Freddie are unable to dominate the mortgage market through their superior data on conventional/conforming mortgages or the fact that many originators have become accustomed to working within the parameters of their automated underwriting systems. By requiring that these assets be spun off to independent companies owned by their shareholders, the plan intends to give the shareholders of Fannie and Freddie an opportunity to realize the value of these assets. The spun-off companies, which will be required to maintain their independence from the GSEs, the GSEs’ holding companies, or any other participants in the mortgage market, can engage in any activity, but they will be required to license the automated underwriting systems and the databases to all comers, on essentially comparable terms.
He didn't mention FNF. Probably embarrassed cause he got it so wrong
Right on buddy---hardly anyone ever mentions that FnF had toxic assets dumped on them by the Feds
They WON't be shut down----IMO it'll never go to court--Takings clause etc will be obvious before it ever gets to that......they're alrebe bound byady been reformed obviously----they just need some rules to
Yer nuts---YOu need pay more attention to BLUE
JPMorgan faces criminal and civil probes over mortgages
http://finance.yahoo.com/news/jpmorgan-faces-criminal-civil-probes-211746061.html
Shorts have 1 day to cover--today
1 day to cover--link
http://www.otcmarkets.com/stock/FNMA/short-sales
How many days for shorts to cover?
Blue--That works for me
I thought No OTC in Premarket?????
CORRECTED-Fannie Mae posts $10.1 bln profit in Q2; will pay U.S. Treasury $10.2 bln
http://www.reuters.com/article/2013/08/08/usa-fanniemae-results-idUSL1N0G90BC20130808?feedType=RSS&feedName=bondsNews&rpc=43
Shorts will get VW treatment on Monday 8/12
conviction isn't shown by weak volume
My DSL crapped out on me...Is it over?
FNMA & FMCC didn't do anything wrong. It was the underwriting banks that screwed everything up. Fannie just bundles the loans
thanks-----
Freddie Mac Profit Climbs 65%
Freddie Mac's (FMCC) second-quarter profit jumped 65% as the improving housing market continued to boost the mortgage-finance company's credit quality, while Freddie also benefited from large derivative gains.
The quarterly profit was Freddie's seventh consecutive, and its second-largest ever.
The fortunes of Freddie and sister company Fannie Mae (FNMA), which have been operating under government control since 2008, have risen in recent months as home prices have rebounded and borrower delinquencies have fallen, allowing them to set aside less money to cover future losses.
But with the housing market finally on the mend, President Barack Obama outlined his vision on Tuesday for scaling back federal support of the nation's mortgage market, part of an opening bid to help build support for bipartisan Senate talks to replace mortgage giants Freddie Mac and Fannie Mae.
Nearly five years they were seized by the U.S. government, Mr. Obama called for ending the business model of Fannie and Freddie. But in their place, Mr. Obama made clear he would only support a system that provided continued access to long-term, fixed-rate mortgages. Those loans remain unique in the U.S. and likely require some form of a federal backstop if they are to remain widely available.
Freddie's latest results were boosted by a credit-loss benefit of $623 million for the quarter, while the year earlier's were weighed down by a provision of $155 million.
Freddie's single-family delinquency rate was down at 2.79%, compared with 3.45% a year earlier and 3.03% in the first quarter.
The company posted $1.36 billion worth of derivatives gains for the quarter versus losses of $882 million a year earlier. Noninterest income was $678 million versus a loss of $751 million a year earlier. However, net interest income dropped 5.5% to $4.14 billion.
The U.S. government took over Freddie and Fannie after rising mortgage losses threatened to eat through their thin capital cushions. Propping up the two companies, which don't make loans but which account for the lion's share of U.S. home-loan financing, has cost taxpayers well over $100 billion so far.
On Wednesday, Freddie said it didn't need to request any funds from Treasury for the second quarter. Based on a net worth of $7.4 billion, the company's dividend obligation to Treasury will be $4.4 billion in September. Including the September obligation, total cash dividends paid to Treasury will be $41 billion.
Overall, Freddie posted a profit of $4.99 billion, compared with a prior-year profit of $3.02 billion. However on a per-share basis, which reflects preferred dividends and undistributed net worth sweep, the company's profit was down at 19 cents from 37 cents.
Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com
Shorts balls dangling over the wood chipper
Volume===el grande
What FNMA fiscal year anyway?
Good,, so in the mean time...legally...FnF must be released
Obama is trying to screw this up too
unemployment is still way too high
His policies have failed--I voted for Mitt
too complicated to be done at this time
especially not by OMamba admin
I heard it on the XM
Doesn't sound like anybody knows what's going on
Hensarling has good ideas , but nothing really solid at this time
Somebody report back on Kudlow
Dean Baker JUST said on NBR that reform unlikely
too complicated for OMaBma administration to tackle this term
If he says that, then it proves that he is a liar
Obama SUX--worst president since W
Obama SUX--worst president since W
Did you vote for the magic negro?
I didn't