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see ya bye
What do we have for partial gaps right now yet to fill?
Playing the gaps on this has got me plenty of extra shares, this stock more than any other follows the gap rule... Play it smart everyone, market direction trumps all and the market is not done bleeding IMO, 1000 point drops do not indicate a healthy market, more to come
Every single market around the world has tanked, don't be fooled, this will not rebound today. Play it smart everyone and don't try and time this thing, we're on the backside of the dead cat bounce, could close near lows. Not a healthy market, Oil has tanked, China has tanked, the canary in the coal mine tried to sing months ago, we're finally seeing it. I will jump back in in the mid 1's
market volatility like this is nothing to mess with, yea maybe we are cutting the losses from the massive drop today, but a healthy market does not behave like this. FNMA will drop further in the coming days and weeks as will the market. Sitting on the sidelines waiting for a cheaper price, this is a great opportunity to flip for free shares
Play this to your advantage everyone, there are valuable shares to be gained, the price continues to go down see it as a positive and add to your position whether you can flip and add or have extra cash to add
Great, read the ER
Once a POS always a POS, good to see logic prevailing
2Q15 Tomorrow
If you all remember from the recent sale with AXA, all of the articles mentioned a $300 million tax write off in 2Q15 and an eventual $400 million profit when deal is completed later this year. This to me does not seem accurate as the deal is not complete, BUT IF the $300m write off occurs this quarter, it will be canceled out by the 14% sale of Genworth holdings in Australia which raised $284.3 million for the company... IF THE TAX WRITE OFF in AXA deal does not count toward 2Q15, we will see near .50 cent earnings per share with the $284.3 million Aussie deal on top of quarterly profits which I expect will be great with the LTC rate increases... With those rate increases I also believe we will also see very positive sentiment in the earnings call and hopefully we will regain some institutional confidence.... In my opinion we do very well this quarter and our current price is the bottom of the channel, take a position before we realize full book price! Good luck everyone!
http://www.bloomberg.com/news/articles/2015-05-11/genworth-to-sell-14-of-australia-mortgage-unit-to-boost-capital
http://finance.yahoo.com/news/axa-talks-buy-genworth-lpi-070727435.html
going to 5 bucks soon
Buy order at 2.20
Rep Delaney is clueless as well
Watch the live conversation here:
http://bipartisanpolicy.org/events/housing-finance-reform-a-status-report/
yea this is pathetic
hopefully the stupid gap closes so we can get it over with already
Find the patterns in the chart and decide for yourself whether or not it will continue its rally or pull back. Once you decide which way it will go, make your trade
an epic milestone in the fannie and freddie saga lol... i wish we would have got a video of that
just got caught saying "incog-negro" again during a break not realizing there was a hot mic behind her
I'm not saying the gap will fill with 100% certainty but I haven't seen a gap go unfilled on this chart for three years
gap needs to fill at 2.28
great work glen
This is a big article, Maxine Waters is a representative on the Financial Services Committee in congress and she has been very pro Fannie and Freddie, this article shows that. She's among several outspoken supporters in congress... I'm telling you dude, all signs point to money in the bank. There are no other options to save home ownership than to release them from government control.
Maxine Waters: ‘We are a long way’ from Fannie, Freddie reform
WASHINGTON (MarketWatch) — It’s been almost seven years since mortgage-finance giants Fannie Mae and Freddie Mac were placed into conservatorship, and U.S. lawmakers have yet to pin down how to reinforce the housing market’s infrastructure, without disrupting sales or putting taxpayers at risk.
Discussions over housing-market reform are difficult — the topic is complex and there are fundamental disagreements over the role for government.
“We have not been able to figure it out. It’s just not easy,” California Rep. Maxine Waters, the top Democrat on the U.S. House Financial Services Committee, told MarketWatch. “We are a long way from making any decisions about reform of Fannie and Freddie.”
Proposals to restructure the housing market touch close to the heart of families across the country. Fannie FNMA, +0.46% and Freddie FMCC, +0.48% together back about half of new home mortgages, and no lawmaker wants to be known for getting housing reform wrong.
Meanwhile, some may see inaction as tempting. Because of a bailout agreement with the federal government, Fannie and Freddie have now sent the U.S. Treasury a total of about $231 billion, about $43 billion more than the firms received in aid. This arrangement has led to shareholder suits, which claim that the government is unfairly taking private capital.
Read more: AIG ruling was helpful, says major Fannie, Freddie investor
MarketWatch spoke with Waters about the housing market, the role of Fannie and Freddie and the companies’ regulator, the Federal Housing Finance Agency. This transcript has been edited for clarity and length.
MarketWatch: The U.S. economy and the housing market seem to be recovering without replacing Fannie and Freddie. Since Congress is divided, what’s wrong with keeping the status quo?
Waters: The discussion continues about Fannie and Freddie. There are those who say let’s keep the status quo. And, of course, there are those who say that there have to be some reforms in Fannie and Freddie.
Of course, Fannie and Freddie look pretty good. Not only have they been performing well, but they have paid back all of the money to the Treasury and they continue to earn money. So that makes them look very, very good.
I believe that it is important to have something in place that will ensure that we have a secondary market, something in place to ensure that we are able to provide homeownership opportunities for the average person who is working every day and who can afford to pay a mortgage, people who have demonstrated that they pay their rent on time, they pay their utilities on time.
We cannot leave them to not be eligible for support from something like Fannie and Freddie. So I’m not supportive of those who say the private market can do all of this.
MarketWatch: So you are not ruling out, for instance, keeping Fannie and Freddie in something close to their current form?
Waters: Personally, I don’t rule out anything.
MarketWatch: If home prices fell, if mortgage defaults went up, with Fannie and Freddie unable to keep and maintain a certain amount of capital, doesn’t that mean that eventually that they will have to draw from the Treasury?
Waters: No. As a matter of fact, when you started this conversation, you talked about the recovery in the housing market and how well Fannie and Freddie were doing. I like that conclusion. That’s how we see it.
We see that there is a need for housing in this country. As a matter of fact, I was recently just reminded by my staff that there is a need for about 8 million new housing units and 43,000 of them are in my district alone.
I think the housing market needs to be serviced and that Fannie and Freddie appear to be able to do that. I don’t anticipate Fannie and Freddie accruing such debt that somehow they are going to be in the position where they have to borrow money from the Treasury.
MarketWatch: Your constituents are facing some of the highest housing costs in the country. Do you have federal policies to address their plight?
Waters: Housing prices are determined by demand. If the housing is available, the prices are reasonable.
When you have tight markets and there is not enough housing to serve the needs, the prices are going to go up. So the answer to that is the Housing Trust Fund, for example, that would create more affordable units. The question is you’ve got to develop and create more units for people to be able to rent, and, of course, the same thing with the housing market.
The federal government, as a matter of fact, can only help meet the demand through support for housing through ways like we’re describing – the [Federal Housing Administration], or whether it’s a housing trust fund, etc.
MarketWatch: In fiscal 2014, the U.S. Justice Department recovered $3.1 billion for false claims on federally insured mortgages and loans, and many big lenders say this is one reason they are skittish to make FHA loans. Has the DOJ been too aggressive in pursuing mortgage lenders under the False Claims Act?
Waters: No, as a matter of fact, the DOJ has a responsibility to protect the taxpayers’ money. So whatever they do to ensure that false claims are dealt with is what we expect them to do. It’s not a matter of being too aggressive. It’s a matter of simply doing your job.
MarketWatch: What can Congress and the rest of the federal government say to lenders to encourage them to ease standards and to lend more?
Waters: What you need in order to expand homeownership is secondary markets. You really do need, No. 1, lenders who are prepared to now follow the Dodd-Frank rules and to have qualified mortgages for people who demonstrate the ability to repay. For those who are initiating those loans, if they need to have support in the secondary markets for those loans, they need to have a place to go. Fannie and Freddie have been that place. So that’s what we need. We need support by our government to ensure that average working middle-class people can afford homes.
MarketWatch: You have repeatedly called for principal reduction on mortgages. Are you disappointed that the FHFA’s current director, Mel Watt, has not embraced principal reduction?
Waters: We are waiting to see what Mel Watt is going to say. I still support principal reduction, and I am hopeful that he is going to announce what he’s going to do about that sometime very soon. I have not yet concluded that he is not going to do it. He has not done it to date, but I support principal reduction.
MarketWatch: If he announces a plan that’s very targeted, very niche, for only a certain set of borrowers, what will your thoughts be on that? Do you think there needs to be a more far-reaching plan?
Waters: A plan should be well thought through. We do have to consider, if, in fact, we have concluded that there were certain targeted areas that were basically solicited for these exotic mortgages and fraudulent mortgages that got them in trouble, I think that certainly should be high on the consideration for principal reduction.
MarketWatch: The nation’s big lenders are pulling back from the mortgage market. Smaller, less regulated, nonbank lenders are increasing their share of lending. Do you think this is a healthy development for the mortgage and housing markets?
Waters: I love community banks being in this business. I hope community banks expand their mortgage possibilities. I have nothing against anybody who wants to play and play fairly. But, of course, it wasn’t the small banks that created the subprime meltdown and the crisis. It was some of our biggest banks.
MarketWatch: And what about the nonbanks?
Waters: I have to watch nonbanks. There’s money in certain areas that should be assisting in the housing markets, but I have to make sure that they are not participating in ways where they have mortgage rates that are too high or other kind of criteria that got us in trouble in the first place.
http://www.marketwatch.com/story/maxine-waters-we-are-a-long-way-from-fannie-freddie-reform-2015-07-09
Will Genworth come back to life?
Traders are apparently looking for Genworth Financial to surge after its next quarterly results.
optionMONSTER's Heat Seeker system Thursday detected the purchase of 3,000 Weekly 8 calls expiring on July 31, mostly for $0.38. This is clearly a new position, as open interest in the strike was only 209 contracts before the trade occurred.
These long calls lock in the price where the stock can be purchased no matter how far it might climb. They could be sold earlier at a profit if premiums rise with a rally before then, providing potentially significant leverage, but the contracts will expire worthless if shares remain below $8 through the end of this month. (See our Education section)
GNW rose 2.79 percent to $7.74 on Thursday but is down some 57 percent in the last year. The insurance and financial-services firm has been trapped in an extremely tight range for nearly two months. The company is expected to report earnings just before Friday's calls expire.
Total option volume in the name topped 8,200 on Thursday, nearly double its daily average for the last month. Overall calls outnumbered puts by a bullish 15-to-1 ratio.
http://finance.yahoo.com/news/genworth-come-back-life-111641309.html
Richard X. Bove: Critical Periods In Fannie Mae’s History
http://www.valuewalk.com/2015/07/richard-x-bove-critical-periods-in-fannie-maes-history/
Read all of these and you can slowly piece together their situation. Go to the FNMA board on this website too and you'll get the whole story... Long story short, these are the two biggest companies in the world and the government illegally seized them (the fifth amendment of the constitution says the government has to fairly compensate citizens if eminent domain is exercised, and that didn't happen) and now take all the profits. Any profit from Freddie goes directly to the US Treasury and the government can use it to fund anything it wants. The lawsuits in the courts challenge what they are doing and if and when they are done it will be overturned.... There's also a huge conspiracy about whether or not the bailout was needed and it was all an accounting scheme to make FnF look bad to the public, and the numbers don't lie, they didn't the bailout, that's the third link.
http://www.nytimes.com/2014/02/16/business/the-untouchable-profits-of-fannie-mae-and-freddie-mac.html?_r=0
http://www.nytimes.com/2015/02/15/business/after-the-housing-crisis-a-cash-flood-and-silence.html
http://www.housingwire.com/blogs/1-rewired/post/34280-the-three-card-monty-accounting-of-fannie-freddie-conservatorship
Some of you have waited for years for the most recent developments to occur. It's all happening guys, unfolding right before our eyes.... It will continue in the coming days and weeks. Stay strong longs don't you dare touch a share, ignore the price movement!
Iron Monk
Again longs, hold tight and try not to watch the price movement. More and more good news keeps piling up. This NYTimes event is Massive, just like the Trey Garrison article and just the Greenburg court win. We will continue to see positive developments as well, mark my words. These events are all tangible, not speculative whatsoever. The price is being held down on purpose... Patience of an iron monk! GL everyone!
FACK this is huge, the good news just keeps on piling up!
To All FnF Longs,
For those of you longs out there who have been disheartened by the lack of price movement with all of this good news (myself included), ignore it. I know, easier said than done... However, we all know that this is the OTC and in my opinion, whether we have more bombshell news or not, this will channel in the 2 dollar range.
On the OTC, reporting rules are not the same and neither is regulation of trading, and it is my belief that this is being suppressed on purpose... once we are up-listed (likely not for a while until this is all over with and we are released) we will see the perpetrators of the suppression and positive price movement. I bet we see ALL the big hedge fund names that have a position in Fannie or Freddie.
So what do we do in the meantime? Sit in misery over this lack of price movement?
We spread this news like wild fire. The #FannieGate movement is growing larger by the day, it is now coming out of the mouths of TV analysts and reporters. WE, did that, and we can continue making it bigger. The article by Trey Garrison is truly game changing. We need to get it out with bloggers, twitter, newspapers, forums, send it to your politicians, everywhere possible. Ignore the bashers,ignore the traders; we all know the true value of these stocks and it will be fulfilled... eventually. Until then let's spread it and maintain the patience of an iron Buddah.
Prost
...Go Twins
we need to find out when his show is on, i bet he does a story on it. Rosner is feeding him good info now, this could be big for us
KUDLOW PUSHING THE ISSUE
@larry_kudlow: "I haven't seen anything in print media about Fannie-gate or Trey's great story. What's up? @TreyGarrisonHW"
I haven't seen anything in print media about Fannie-gate or Trey's great story. What's up? @TreyGarrisonHW
— Larry Kudlow (@larry_kudlow) June 24, 2015
Anyone who has not done so, please retweet and favorite Kudlow's tweet. We need to show a wave of support behind this and give him some more fuel to push the story further
Dynamite. Just read. https://t.co/G3U658ntRe
— Larry Kudlow (@larry_kudlow) June 24, 2015
There are many more to follow
LARRY KUDLOW FROM CNBC RETWEETED TREY'S ARTICLE!!!!!!!!
Holy effin t's you guys, this is monster... 83.5k followers and one of the biggest financial media networks in the world!
Dynamite. Just read. https://t.co/G3U658ntRe
— Larry Kudlow (@larry_kudlow) June 24, 2015
*****RETWEET AND SHARE THIS LINK*******
Here is the link to Trey Garrison's tweet and article. Please everyone, get on there if you have an account and retweet and favorite! This is HUGE and it needs to get picked up at a larger news station, BIG BIG BIG!!!!
https://twitter.com/TreyGarrisonHW/status/613452000743653376
Fannie and Freddie in a nutshell...
EXACTLY, this is monumental. Now damages awarded is not a big deal for anybody but greenberg. The fact of the matter is the terms of the bailout are deemed illegal!!!!!!!!! I smell end of conservatorship!!!!!!
GREENBERG WINS TRIAL!!!!!