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I love Daft Punk, my favorite is Technologic
That's not a roll over
Unless it's between $5500 and $6500 depending on your age
I don't think they would let you roll a 401k to a Roth or a traditional IRA, If that was the case everyone would do it to avoid taxes.
I'm pretty sure that number is from day trading, same with Capital
WASHINGTON , May 14, 2019 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced its latest sale of non-performing loans, including the company's fifteenth Community Impact Pool . Community Impact Pools are typically smaller pools of loans that are geographically-focused, and marketed to encourage participation by non-profit organizations, minority- and women-owned businesses (MWOBs), and smaller investors.
The six larger pools include approximately 4,660 loans totaling $822.3 million in unpaid principal balance (UPB) and the Community Impact Pool of approximately 80 loans totaling $17.7 million in UPB. The Community Impact Pool consists of loans geographically located in Miami-Dade area. All pools are available for purchase by qualified bidders. This sale of non-performing loans is being marketed in collaboration with Bank of America Merrill Lynch and First Financial Network, Inc. as advisors.
Bids are due on the six larger pools on June 4 and on the Community Impact Pool on June 18 .
Among other elements, terms of Fannie Mae's non-performing loan transactions require the buyer of the non-performing loans to pursue loss mitigation options that are sustainable for borrowers. In the event a foreclosure cannot be prevented, the owner of the loan must market the property to owner-occupants and non-profits exclusively before offering it to investors, similar to Fannie Mae's FirstLook® program.
I hate to say I told you so, but my charts where showing spike at open then down to low $2.40's It was good for me though, I picked up more shares because of it.
I hope they do push back down, Then I'll pick up some more shares
That's what I'm showing as well, may spike at open then shorts will push back down to low $2.40's
What does Levi's have to do with F/F? I think you pasted the wrong link..
Calabria says new legislation is not needed to get Fannie and Freddie out of conservatorship.
Calabria will work with Treasury later this year to help Fannie and Freddie raise new money so that FHFA can eventually declare them adequately capitalized.
Upon Fannie and Freddie becoming capitalized, conservatorship will end.
Congress will have lots of time until the companies become capitalized to pass new legislation if it does more than simply say that it wants to.
Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) are two companies that are in the longest conservatorship of my lifetime. In fact, a new law (HERA 2008) was passed at the precipice of conservatorship that specifically governs their conservatorships which are different from bank conservatorships, despite the fact that the law was basically copied word for word from bank conservatorship law (FIRREA). Because of the new law being separate from banking conservatorship law, judges have largely done nothing about Fannie and Freddie shareholder complaints so far. They primarily revolve around the government's 2012 net worth sweep that takes all of the money that the government said was worthless 2008-2011 that was on the balance sheets and made it convenient to take that on top of all of the future profitability of the companies in an explicit effort to wind them down. Mind you, FHFA was acting as conservator when it agreed to this. Early government legal arguments claimed that these actions were taken to save the company from a discretionary cash dividend-induced death spiral, but judges really haven't gotten that far yet, saying that it doesn't matter what the government did - it could do it.
Investment Thesis
With Mark Calabria in charge of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac will not only be allowed to retain capital, but the Senior preferred securities purchase agreement will be amended and the lawsuits will be settled in order for the companies to go to the public markets and raise new money via selling new equity to investors. The lawsuits filed by common and preferred shareholders largely go against the net worth sweep. As such, it's difficult to see them being settled without the net worth sweep being declared paid back. In other words, I don't think that the common shareholders would settle the lawsuit if the net worth sweep stops and the senior preferred convert to common. After the balance of the SPSPA (Senior Preferred) gets written off, the warrants will be exercised and the junior preferred will likely equitize some or all of their shares to help facilitate the recapitalization of Fannie Mae and Freddie Mac. The Moelis plan envisions commons are worth $8-15 and preferred are worth par. I think the Moelis plan is generous in its earnings multiple and earnings, so my estimates for commons are a bit lower. Other risks include higher capital requirements, a shorter timeline to recapitalization, more CRT/STACR deals, more regulation and/or lower guarantee fees.
Fannie Mae and Freddie Mac’s new overseer said the mortgage giants can be freed from government control even if Congress doesn’t pass a housing-finance overhaul, while signaling that lawmakers will get “more than sufficient time” to come up with a plan of their own.
The comments by Federal Housing Finance Agency Director Mark Calabria in a Tuesday interview are a clear sign that regulators and President Donald Trump’s administration aren’t counting on a legislative solution after more than a decade of failures to address the biggest piece of unfinished business from the 2008 financial crisis.
Mark CalabriaPhotographer: Andrew Harrer/Bloomberg
Lawmakers will get “at least an entire Congress” to act before the companies are freed, said Calabria, who took over at FHFA last month. That would put the target date beyond the 2020 presidential election.
Calabria’s comments reflect the determination of Trump and his appointed regulators to end the federal conservatorships of Fannie and Freddie, which have been in place since they were seized by regulators and bailed out by taxpayers more than a decade ago. Figuring out what to do with the companies, which dominate the nation’s mortgage market, has been labeled a top priority by officials including Treasury Secretary Steven Mnuchin.
Fannie Mae shares rose 5.8 percent to $2.54 at 4 p.m. in New York. Freddie Mac shares climbed 4.8 percent to $2.41. Both companies have more than doubled this year amid investor optimism that the companies will be freed by the government.
Read More: Fannie and Freddie Died But Were Reborn, Profitably
Fannie and Freddie don’t issue mortgages. Instead, they buy loans from lenders and package the debt into bonds that are sold to investors with guarantees of interest and principal. The process makes housing more affordable, while keeping the mortgage market humming.
If released without Congressional action, Fannie and Freddie would lack an explicit federal guarantee for the trillions of dollars of mortgage securities they issue, as such a backstop requires lawmakers revamping their charters.
Right now, investors consider Fannie and Freddie securities to be as safe as Treasuries, partly because as long as the companies remain in conservatorship, most bondholders assume the government would make good on any losses.
While releasing Fannie and Freddie without an explicit federal guarantee could undermine that confidence, Calabria said he believes the companies and the housing market could still function. Creditors would be satisfied by Fannie and Freddie building up equity cushions and hedging risks, Calabria said.
“I think with a combination of more offset, more off-laying of the credit risk, more capital, we could get to a point where the creditors should feel pretty comfortable that there’s a lot of people in line ahead of them,” he said.
Editorial: How About Leaving Fannie Mae and Freddie Mac Alone?
While there is much that Calabria can pursue on his own, some items, like a government guarantee of Fannie and Freddie bonds and the chartering of new guarantors, must be done by lawmakers. Calabria, for his part, said he would like Congress to allow him to charter new competition for the two companies.
Administration Plans
In March, the Trump administration released an outline for housing-finance reform that directed both Treasury and the Department of Housing and Urban Development to draw up reform plans. Treasury and HUD are expected to complete their reports in the next few months, and Calabria said he will negotiate with Treasury about the terms of reform after that happens.
His plan to get Fannie and Freddie out of conservatorship won’t be time-dependent, but will require a post-conservatorship supervision team to be in place and for the companies to hit certain capital goals.
“It’s insolvency, lack of capital that triggered the conservatorship,” he said. “It’s going to have to be solvency, sufficient capital that primarily triggers the exit.”
To be released, Fannie and Freddie would need to boost their capital levels, which currently stand far below what they would need to survive another housing crisis.
Net-Worth Sweep
Since 2012, all of their profits have been sent to Treasury in a so-called net worth sweep that Calabria has said he has no immediate plans to end. He said he’s open to building capital quickly through initial public offerings for the companies, but isn’t certain that could generate all the capital they’d need.
“Even if it was the largest IPO in history it’s not clear that that could do that in one fell sweep,” he said. Eventually, capital ratios at Fannie-Freddie would need to “look like any other large financial institution,” he said.
Even given sufficient time, housing-finance legislation may not have enough support to pass a divided Congress. Multiple efforts to reform the system have failed in the years since the crisis, leaving the uncertain status of the mortgage giants the largest piece of unfinished business from that era.
Many of the moderate lawmakers who helped push housing reform in previous Congresses have left office, further dimming prospects for success. Senate Banking Committee Chairman Mike Crapo said last week that components of housing reform may need to be done through executive or regulatory action.
“I think you’re going to see some good progress this year. It may or may not be entirely legislative,” Crapo said at an at Independent Community Bankers of America event.
On top of reforming housing finance, Calabria also must deal with lawsuits from Fannie and Freddie shareholders, including hedge-fund managers who stand to reap a windfall if the firms are released. He brushed off concerns about the legality of Treasury’s net-worth sweep, which is the focus of legal challenges.
“I think that if we can get them out of conservatorship and then we can set a path, I think a lot of those issues will go away,” he said.
Have you ever seen the U.S market react the same as Europe's Pre-Market with F/F, in the past 15 yrs I can not think of one time that it has.
Europe's market on F/F never reflects us here in the U.S.
95% revenue growth but still have a 1.1 Bill net loss and ( $9.02 ) PPS loss, yet people still want to let this company steal your money! Uber will be just as bad, wait for the IPO to release and the idiots run the price up then SHORT the stock!!!!
Lyft has an est. ( $4.74 ) PPS loss not to mention they lost $944 Mil. last year and have poor projections, so how can anybody be positive about this company. The same thing will happen to Uber on Friday!
WASHINGTON , May 7, 2019 /PRNewswire/ -- The Fannie Mae Home Purchase Sentiment Index® (HPSI) dipped 1.5 points in April to 88.3, offsetting some of the prior month's 5.5 point jump. A decrease in the "Good Time to Buy" component helped drive the index lower, despite another supportive mortgage rate outlook from consumers. The net share of respondents expecting mortgage rates to go down over the next 12 months has risen a total of 12 percentage points over March and April.
"Households remain upbeat about economic activity but have more mixed attitudes toward the housing market," said Doug Duncan , senior vice president and chief economist at Fannie Mae . "While home selling confidence remains strong and more consumers on net expect mortgage rates to decline over the next year, respondents walked back some of their buying optimism from March. Improving perceptions of income gains and a softening home price growth outlook should help support housing demand. However, increasing expectations among consumers that mortgage rates will continue to be favorable for some time will likely gain additional support following last week's Fed meeting – and may also be reducing their urgency to buy."
HOME PURCHASE SENTIMENT INDEX – COMPONENT HIGHLIGHTS
Fannie Mae's 2019 Home Purchase Sentiment Index (HPSI) decreased in April by 1.5 points to 88.3. The HPSI is down 3.4 points compared with the same time last year.
The net share of Americans who say it is a good time to buy a home decreased 8 percentage points to 14%. This component is down 15 percentage points from the same time last year.
The net share of those who say it is a good time to sell a home remained unchanged at 43%. This component is down 2 percentage points from the same time last year.
The net share of those who say home prices will go up decreased 2 percentage points to 36%. This component is down 13 percentage points from the same time last year.
The net share of Americans who say mortgage rates will go down over the next 12 months increased 5 percentage points to -40%. This component is up 8 percentage points from the same time last year.
The net share of Americans who say they are not concerned about losing their job decreased 6 percentage points to 74%. This component is down 2 percentage points from the same time last year.
The net share of those who say their household income is significantly higher than it was 12 months ago increased 2 percentage points to 22%. This component is up 4 percentage points from the same time last year.
ABOUT FANNIE MAE'S HOME PURCHASE SENTIMENT INDEX
The Home Purchase Sentiment Index (HPSI) distills information about consumers' home purchase sentiment from Fannie Mae's National Housing Survey® (NHS) into a single number. The HPSI reflects consumers' current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers' evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.
Former Fannie Mae CEO on the fate of Fannie and Freddie
https://www.cnbc.com/video/2019/02/04/former-fannie-mae-ceo-on-the-fate-of-fannie-and-freddie.html
Former Fannie Mae CEO on the fate of Fannie and Freddie
Former Fannie Mae CEO on the fate of Fannie and Freddie
Former Fannie Mae CEO on the fate of Fannie and Freddie
By Liz Hoffman
Big banks have complained for years about a key feature of the Dodd-Frank overhaul requiring them to keep billions of dollars of cash in reserve. Some are trying to find a way around it.
Commercial banks including Wells Fargo & Co. have been dangling higher rates over the past year to attract deposits from Fannie Mae, Freddie Mac and other government-backed lenders, according to industry executives. The goal is to replace one type of funding banks use to manage their daily finances, overnight loans, with another, deposits.
The two are functionally the same -- money is wired to the bank at night and leaves in the morning -- but they are treated differently in Washington. Regulators give more credit for deposits, which are thought to have more staying power than overnight loans, when determining whether a bank has enough stable funding to stay afloat under stress.
Replacing loans with deposits improves, on paper, a bank's financial health. The banks could then take cash that they previously would have had to hold aside to meet regulatory standards, and put it to more profitable uses.
Securities filings suggest that banks have netted as much as $20 billion in new deposits over the past year or so from Freddie Mac, Fannie Mae and other government lenders. Under current rules, that could free up $15 billion that banks could put toward things that make them money, like loans or investments.
The trade shows how banks are tinkering with the Rube Goldberg-esque regulatory machine created in the wake of the financial crisis. Dodd-Frank, which runs 2,300 pages, introduced hundreds of new rules and measures that overlap, a puzzle that bank specialists are looking to solve.
"Regulation is a playground for smart people," said Oliver Ireland, a former Federal Reserve lawyer now in private practice, where he counsels banks on complying with Dodd-Frank. "It was inevitable that this set of rules was going to start to influence how people structure transactions."
Wells Fargo declined to comment, as did other banks contacted for this story.
The value for the banks involves an arcane provision of Dodd-Frank called the liquidity coverage ratio. Reported to the Fed, LCR measures how much money is expected to flow into and out of a bank over a 30-day period, testing whether banks have enough cash and liquid assets like Treasury bills on hand to keep operating if the markets tighten.
A key input is how stable a bank's funding is. The various ways banks raise money -- taking deposits, issuing bonds, borrowing overnight -- all get a different weighting, based on how dependable regulators think they are.
Retail deposits are sticky, so banks get 97% credit for those. Operational deposits, which businesses use to manage their daily finances, get a 75% weighting. Zero credit is given for overnight loans because regulators assume that lenders will hoard their cash in a time of stress.
By replacing those short-term loans with deposits, they can free up cash that they would otherwise have to hold to satisfy regulators.
The Federal Reserve last year proposed easing the minimum ratio banks would have to hit. The rule has yet to be completed.
Karen Petrou, a D.C.-based adviser to bankers and regulators at research firm Federal Financial Analytics, said the move likely poses no threat to the system, calling it a "relatively non-evil form of regulatory optimization."
The amount freed up by this arbitrage is just a fraction of the trillions of dollars of assets held by banks, and the deposits gathered are a minuscule portion of their overall funding, which has shifted since the crisis to safer, more reliable sources like retail deposits and long-term bonds.
Banks have been pitching government-supported lenders, which are the main source of cheap overnight loans to banks, on switching to a deposit account, according to industry executives. They are offering 0.10 or 0.15 percentage points above a baseline government interest rate, which is currently about 2.5%, they said.
Fannie Mae's cash held in overnight bank deposit accounts has quadrupled to $8 billion at the end of last year from $2 billion in 2016, when it first started reporting the figure. Freddie Mac has put $3 billion on deposit at big banks since 2018. Fannie Mae and Freddie Mac both declined to comment.
The biggest player in this burgeoning trade are the Federal Home Loan Banks, a network of government-backed regional lenders that offer cheap funding to private-sector banks. Last year they shifted $11 billion from overnight loans to U.S. banks into deposit accounts, filings show. Deposits at commercial banks rose from $5 billion to $17 billion, while overnight unsecured loans to those banks fell from $65 billion to $54 billion.
At the Federal Home Loan Bank of Dallas, bank deposits went from zero in 2017 to $2.5 billion at the end of 2018. Overnight loans fell from $7.8 billion to $1.8 billion over the same period.
"We earn 0% on our Fed account holdings so we are always looking at short-term investment opportunities," said David Jeffers, a spokesman for the Federal Home Loan Banks. "You'll see us doing this through a variety of ways."
Write to Liz Hoffman at liz.hoffman@wsj.com
(END) Dow Jones Newswires
May 06, 2019 05:30 ET (09:30 GMT
Steve Mnuchin has returned from Beijing, so maybe this is what they've been waiting on before they could come up with a plan to release F/F
Unless it picks back up after lunch, it's more like $2.38
Today, Fannie Mae (OTCQB: FNMA) announced and priced its fourth issuance of Secured Overnight Financing Rate (SOFR) securities, issuing $2.5 billion of 18-month, floating-rate corporate debt.
"Today's transaction is an opportunity to maintain a SOFR curve out to 18 months," said Nadine Bates, Senior Vice President and Treasurer, Fannie Mae. "We recently hit the one-year anniversary of the first publication of SOFR and, in a short amount of time, have seen significant growth in this market. It is important to continue the momentum toward developing alternatives to the London Interbank Offered Rate (LIBOR). The only way to build further liquidity in the SOFR market is if market participants remain actively engaged."
There are currently over $80 billion of SOFR-linked securities in the marketplace since the rate was first published in April 2018.
Transaction Summary
Maturities CUSIP Amount Pricing
18-month 3135G0V67 $2.5 B SOFR + 7.5 bps
Investor Distribution*
https://mma.prnewswire.com/media/879232/Fannie_Mae___chart.jpg
https://mma.prnewswire.com/media/879232/Fannie_Mae___chart.jpg
Numbers may not foot due to rounding
*Indicative as of April 29, 2019
Barclays Capital Inc., Nomura Securities International, Inc. and Wells Fargo Securities, LLC are the lead managers on this transaction. Loop Capital Markets LLC and Samuel A. Ramirez & Co., Inc. are selling group members.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this press release constitutes advice on the merits of buying or selling a particular investment. Any investment decision as to any purchase of securities referred to herein must be made solely on the basis of information contained in Fannie Mae's applicable Offering Circular, and no reliance may be placed on the completeness or accuracy of the information contained in this press release.
You should not deal in securities unless you understand their nature and the extent of your exposure to risk. You should be satisfied that they are suitable for you in light of your circumstances and financial position. If you are in any doubt you should consult an appropriately qualified financial advisor.
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.
https://c212.net/c/img/favicon.png?sn=CL34208&sd=2019-04-29
View original content to download multimedia:http://www.prnewswire.com/news-releases/fannie-mae-returns-to-secured-overnight-financing-rate-sofr-market-with-2-5-billion-transaction-300840030.html
SOURCE Fannie Mae
Why is there no one on IHub talking about DO, it's a great company to buy right now and even better if you bought it a few months ago...
I've always thought nothing would truly happen until after 2020 elections are over. Why would Trump risk losing votes, also, even though his investments are in a trust, he does hold Fannie in is portfolio, so he'd benefit with releasing FNMA
They're hearing this on the floor of the exchange, so it must be more than just a thought. Time will tell.
I've two friends in NYC that work on the exchange and they are saying that GW might acquire them for their child epilepsy CBD oil treatment which has been approved in Britain and is undergoing clinical trials here and will be FDA approved once it's completed, the clinical trials are just a requirement that have to go through to get approved, they already know it'll pass the trials.
Thanks, I'll check it out. I already have real time with Think or Swim. But always like new options.
And he's talking about Naked Shorts Potty, just incase you're serious.
Has anyone else heard that GW Pharmaceuticals is interested in acquiring APHA?
Doe's anyone here have IHub's L2 and is it better than what I get on Think or Swim. I added 2 more screens to run FNMA and FMCC L2's
Has anyone heard any news about YUMA being bought out?
Where is everyone getting such high numbers, I've calculated the average market PPS to be $55.17 and book value is a little harder to get because when don't see all the cost & debts, but it should be around $37.50
You gave me the correct numbers I needed Chessmaster, thanks again!
Thanks!!
I don't suppose anyone here has FNMA's gross annual revenue for 16' 17' 18' Everything I click on says page is deleted.
The Nasdaq website shows zero activity pre-market on Fannie
LOL, I was about to post the exact same thing
Never mind I found it...
Morning, does' anyone know Fannie's trailing P/E
I know this, I was trying to tell the guy who was adamant that they own 1.6 trillion in Fannie Mae, when they only have a 3.12 Billions market cap
I agree 100% with your statement, also BoA is one of the main companies to cause the crash by giving mortgages to anyone, including illegal citizens as long as you had a 620 and up credit score and $1000 down payment.