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more than likely unless they give away our market share to the big banks. than we are sitting diluted right about where we are right now.
he has to pay the dividend first under the jumpstart rules and then to the fund.
DELAY TAX REFORM UNTIL DOUG JONES GET SWORN IN!!!!
Doug Jones victory helps us a little bit, all we need is 1 republican to flip and we can avoid hr4560
is HR4560 being used as a rider on the tax reform? if that is the case Trump will likely sign
Under hr4560 he is not allowed to send partial payments
Yes. It is going to pass but it doesn't mean it'll become law. Still needs house Senate and potus to sign off on it. I know one thing,. Everyone in the room is against fnma
well...shit! both sides want the jumpstart extended
have they talked about 4560 yet?
what link are you watching?
does anyone have a link to the live senate finance debate?
hahaha ill mark it on my calendar
1 year delay
We will see what happens tomorrow morning, if we survive the jumpstart GSE talkes we could see a big day.
They are scrambling to do something!!!
we need to survive 10 more days and then we go to $5 pps
GSE Jumpstart - Expires In Less Than 60 Days (Nov 6th 2017)
This legislation which is law prevents the US Treasury from selling off its investment in Fannie and Freddie. It was produced by Sen. Bob Corker who has publicly suggested shorting Fannie and Freddie.
This legislation is the hallmark of double speak and actually so far has prohibited/impaled/impeded/thwarted GSE reform. The conservatorship has lasted the better part of a decade and all this legislation did was make it last longer. Bob Corker has since announced that he will not be running for re-election, so when GSE Jumpstart expires it is reasonable to expect that he pulls out all the stops to cripple the GSEs. That said, if Mnuchin is serious about any solution involving the adequate capitalization of the GSEs, the best way to do it while protecting taxpayers involves raising capital in the primary markets and the best way to do this is to settle the lawsuits.
The problem with primary markets right now is who is going to put up billions of dollars with the net worth sweep in place? No one in their right mind. The money would go directly to the government. As such, the only way to attract capital is to eliminate the net worth sweep. This can be done in receivership or conservatorship. Given how the court rulings have largely favored the conservatorship, there really is no operational advantage to entering receivership. Entering receivership also would make it harder to attract new capital.
The SPSPA can be modified in a way that makes raising private capital possible. As GSE Jumpstart expires a plan can be put into place that raises over $100B to capitalize Fannie and Freddie while keeping many of the good reforms that have been put into place by FHFA.
I really didn't know Jumpstart passed, I thought it failed back in 2015.
Now if that is the case it makes sense Watt and Mnuchin were so robotic in saying they needed a bilateral solution with congress....they had too to conform to jumpstart legislation.
can anyone confirm jumpstart passed?
Glen Bradford
I think there is a reason French proposed that legislation.....he knows it is about to happen(2-3b in retained capital) and its all the senate finance committee can do to stop the inevitability.
Once FNMA has reserves and NYE passes we are good to go
Its funny they waited this long to try and do something. they know that if they wait till after Jan 2nd they will have no say in the matter....good luck getting this to pass
both him and Corker are not seeking reelection. Not sure why that are working so hard on this right before they leave but who knows. they are enemies of the GSE's
Fannie-Freddie Would Be Lender-Owned in DeMarco’s Plan
By Joe Light
June 29, 2016, 7:00 AM CDT Updated on June 29, 2016, 11:38 AM CDT
Ex-FHFA director would put mortgage firms into receivership
Co-author worked on Senate proposal that was blocked in 2014
Fannie Mae and Freddie Mac would be put through receivership and turned into lender-owned insurers under a housing-finance overhaul plan co-authored by the companies’ former regulator.
It’s his last ditch effort. If this doesn’t pass trump can act unilateral
It’s his last ditch effort. If this doesn’t pass trump can act unilateral
hes talking about the par value on preferreds.....for instance FNMAT has a par of $25 per share.
yup, preferreds should explode tomorrow. I still think commons will be 10-15 a share after everthing is said and done
Under the proposal, preferred shareholders of Fannie and Freddie could be made whole or close to it, depending on the final outlines of the transition, the people said. But common shareholders may not fare as well, they said. Whether and how shareholders get compensated in the transition to the new system is still an open question. Investors in the companies include several prominent hedge funds.
that is all i can find right now......someone tweet commander
It's happening: Senate #GSE reform proposal preserves Fannie and Freddie (in smaller form) and builds on existing system. #housing Only on @POLITICOPro -->https://www.politicopro.com/financial-services/article/2017/12/fannie-and-freddie-would-live-on-under-senate-proposal-211101 …
the tax reform could trigger the GSEs to make a draw from the treasury. they have deferred tax assets that they can write against any revenues and with the new tax plan that could go away.
Cavuto on Fox news is saying Corker is a hold out on this vote :) if it passes maybe thats good news for GSE's
do we want this tax plan to pass???
Very nice commander!!
Pictures or it didn't happen