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Hello Fannie and Freddie shareholders,
Is there anything we can do now to prevent any changes to the warrants that would expire in few years from now?
The date is 5/22/24. It appears on the last page.
Today I reduced most of my preferred positions FNMAS, FNMAT and FNMAJ. Plan to move into 10 or 20 Year Treasury. Getting ready to close down my Used Auto business and retirement. Still have both commons and few thousands of FMCCTs that I plan to keep for next 5 years.
How much daily/monthly interest does that add, based on the 5% over Fed Discount Rate (5.75% in total) from the lawsuit? Is the interest payable on the $50 par value or the damages amount only? How much is that for FMCCT?
Thanks in advance.
Do you or anyone have the amount available for each preferred series? One of the documents had that listed. Trying to find out. It should be made a sticky.
Hello,
Can someone please post the amount of damages that may be paid for different GSE preferreds and FMCC commons? A table listing those details were shared earlier and was included in one of the court documents. Trying to find the same. Thank you.
I am an Auto dealer. I can drive and go in person to ask questions if I get a complete list of questions and instructions from someone.
Don’t both parties have to agree for extension? Is it a one sided decision? Can FHFA conservator choose not to extend?
Warrants Expiration Date in 2028
What is the warrants expiration date? Does it fall in the dates aligning to the next President’s terms?
FHFA conservator and US Treasury Secretary both may someone else at that time.
Thanks.
This doesn’t sound good, right?
Musk should buy all commons of Fannie and Freddie. After that, he can put Solar roof on all those houses financed by Fannie and Freddie and then lease EVs by including the monthly lease payments amortized over 30 year period.
I think he can get the credit of the rebates offered by the Inflation Reduction Act as well.
Fidelity and MerrillEdge not allowing to buy these shares. Cannot bid and hence low volume.
Good Morning.
Looks like MerrillEdge is not allowing investors to buy FNMAS with a message "You entered a security that is not rated as investment grade by S&P or Moody’s and is below the threshold for online trading (RES_HYDIRL_CHK_DQCODE)
For more information, call 877.653.4732"
Did anybody else experience this? What are our options to buy?
Due to possibility of favorable outcome of the class action lawsuit involving the preferred shares.
Commons were not included in that but after preferred, they may go up too.
Whoever owns the preferred shares now, will get the settlement, if favorable.
I am receiving it tomorrow. Got notification from USPS with scanned image as I do get for all my delivered mails.
Not sure how to post its picture here, but it is real.
I am currently in another country so not sure what it really says. Can anyone summarize the message it has?
Thanks!
My CPA advised me to book tax loss on FNMA so I sold some of my FNMA and now hold FMCC. Still keeping the 500 FNMA shares purchased before 2012.
I hold commons more, but based on discussion here, also bought some $50 preferred of Fannie and Freddie. Regarding JPS and Commons, I think even if anyone wins, the other ones will be benefitted. Let's not argue about them here.
Agree with your points.
Who will buy new shares when future investors know that all their shareholder rights will be permanently with FHFA.
Great initiative! Will be glad to support it.
The price is going down but on a very small volume. Seems to be a good sign.
I have lost 2 years of my dividends due to inability to fire MW. Had DJT done that on Day1, I would have started to get my dividends 2 years earlier. Is this a sufficient to start a Class action lawsuit for a direct claim for lost dividends due to FHFA's unconstitutional structure?
Sorry, I manage a car dealership (having a great time now btw) but not a lawyer, so asking. Lost about 18K dividends per year. Thanks in advance.
Now apply that your own logic to SPSA SPS in SPSA stand for Senior Preferred Stock, if you ever 'understand' it.
Harm was caused to Investors on Day1 Period as Watt was non-removable.
What they would have done later is something you "do not understand", and none of our business to discuss.
Great suggestion. Looking forward to its formation and the next steps.
Copy the tweet to Sheila B and SEC for investor protection.. the primary goal of SEC..
Agree, Twitter and LinkedIn messages would be good
praising their achievements (lack thereof) in a sarcastic way to send message and spread the word.
Did FHFA state during SC hearing about stopping the NWS after 4th Amendment? How did the SC Judges comment about that?
Are new shareholders who bought the shares based on that statement eligible to claim for damages, suing whoever made those false statements in the courts?
agree, the best way of self defense is to attack..
I tried to buy FNMFO and it was not an easy process. Got Sec-144 message on Fidelity and Low priced stock message on MerrillEdge. Still went ahead and bought 1 @5300.
Quantifiable damages = Liquidation preference when they were purchased and held till maturity (by investors choice) less the market value of the converted stocks.
Probably not. PPS won't go up because of following:
There is no way for UST to cash out their Sr Pref as they cannot be repaid by FnF (no provision to repay it). Also, they are not receiving any money from profits at the moment, until reserves are built.
So, the option listed by you is the only option to exercise them soon, but I doubt it will be done by UST. Even if they do exercise it, they'll get no dividend on them.
In fact PPS may go down with dilution (with 5 B shares floating around without dividend possibility and Sr Pref debt still hanging on them). So, don't think warrants will be exercised until outstanding Sr Pref and Jr Pref are paid or div restored for Jr Pref and Sr Pref marked down.
----
yes - based on current common PPS
but if GOV wanted to exercise WTS and sell 4B shares - it would IMO IMO note something like --- this will be the MAX number of shares in any eventual equity owned Fannie Mae - no SPO
that would increase our PPS and theirs to say 3 or ?
then if they added a lower capital reserve level needed at the same time?
so PPS right now can change fast IMO - if GOV wants more money for its WTS
Also read the last sentence.. a win in the court would greatly accelerate this outcome.
I kind of agree with him on that.
Remember, the Jr Pref liquidation preference is still $25/50/100,000 for all preferreds and no div can be paid to commons without starting Jr pref dividends or redeeming all of Jr Pref shares.
Warrants expire in 2027 if no action is taken. If they are exercised now, they are worth less than 5 B (based on current stock price around $1).
Conversion of Sr Pref into Commons is not available per existing terms. If they are converted at any price other than the current market price, it is a takings.
$1 is incorrect. Read the prospectus for different series. Do not generalize. Some are $25, some $50, some $100,000.
Liquidation preference increase
Pardon my Ignorance…. But I have a questions…
After SCOTUS decision, if liquidation preference is still increased by FHFA in the financial statements, what are the rights of shareholders who bought shares after the SCOTUS decision?
Well said! Thank you for sharing the info.
Couple of questions:
1. Will new Common or Pref share purchasers (who did not hold shares before this letter amendment) benefit from any potential settlements?
2. What is the probability of there being a new letter agreement/amendment that may be done to the existing agreement by the new administration.
Thanks in advance.
Sorry to say it, but it’s the truth
The Conservator is useless from the shareholders perspective. Not capable of doing any constructive work in a timely manner. Don’t have high hopes.
PhD adds nothing when it comes to execution of plans.
Let him state this publicly: I am here to as a Conservator of FnF. I want to preserve and conserve the assets of the companies. I stop paying dividends on ALL types of shares, including Senior Preferreds. The conservatorship was temporary and I want to end it soon.
We all can make a difference by stating the facts about the treatment of FnF shareholders for the past 12 years and the probability of getting similar ‘deal’ for the shareholders of all these companies seeking bailout a.k.a. assistance from UST.
Thanks. So, the earliest quarter when the effect of this change would be reflected in the P&L is going to be for the Quarter ending March 2020 I guess.
Can you please elaborate this in easy terms for the benefit of ordinary shareholders? Thanks.
Thank you. My transactions were thru Rollover 401k. Does that qualify for settlement? I did receive multiple notices for my different rollover 401k accounts.
How do we determine if it is worth going through the efforts to claim or not claim?
Thanks in advance.
Did anyone receive GSE BONDS ANTITRUST LITIGATION settlement notices?
Are these related to GSE’s Junior Preferred stock purchases? The settlement amount is $29 Millions.
Can someone guide as to what that is? The due date is Feb 5th.
Thanks in Advance.
Can a Director of agency termed as Unconstitutional by En-Banc file an appeal? Don't they first have to prove that they are constitutional and legally structured before they can file for an appeal?