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where is the Link: to the Freddie Mac UPGRADE ??
yup ... jus like my .75 BUYS you laughed & DIDN'T make
Paulson in line for next Treasury Sec - then Boooom ! GSE RELEASE !
John Paulson is luring other billionaires to back Donald Trump in the presidential election with a fundraiser worth $814,600 a person https://t.co/yNIopnAEwT via @wealth
— Cmdr Ron Luhmann (@usnavycmdr) April 6, 2024
Fannie / Freddie Delta is now .08 - it was .30
Realtors association must face US Justice Dept. probe, US appeals court says https://t.co/nLOnUyLH0a
— Cmdr Ron Luhmann (@usnavycmdr) April 6, 2024
$Booom ! - $First-Quarter $Agency $MBS Volume Up on Annual Basis
Fri April 5, 2024 - jbancroft@imfpubs.com
Issuance of agency mortgage-backed securities in the first quarter of 2024
was above the level seen the year prior, providing a hint at better times as the
spring homebuying season nears.
Fannie Mae, Freddie Mac and Ginnie Mae issued a combined $213.55 billion of single-family
MBS in the first three months of 2024, according to a new ranking and analysis by Inside
Mortgage Finance. That was 5.6% better than the first quarter of last year, but it was also
down 9.6% from the fourth quarter of 2023.
Unexpectedly, perhaps, the hot spot in the agency market was refinance business. The agencies
securitized $36.66 billion of refi loans in the first quarter, a 17.7% boost from the prior period — and
a solid gain from a year ago.
It’s still overwhelmingly a purchase-money market, as homebuyer loans accounted for 80.4% of
agency business in early 2024. Purchase-mortgage volume was up on an annual basis, including
a 13.9% increase in Ginnie volume.
$Booom ! - $First-Quarter $Agency $MBS Volume Up on Annual Basis
Fri April 5, 2024 - jbancroft@imfpubs.com
Issuance of agency mortgage-backed securities in the first quarter of 2024 was above the level seen
the year prior, providing a hint at better times as the spring homebuying season nears.
Fannie Mae, Freddie Mac and Ginnie Mae issued a combined $213.55 billion of single-family MBS in
the first three months of 2024, according to a new ranking and analysis by Inside Mortgage Finance.
That was 5.6% better than the first quarter of last year, but it was also down 9.6% from the fourth
quarter of 2023.
Unexpectedly, perhaps, the hot spot in the agency market was refinance business. The agencies
securitized $36.66 billion of refi loans in the first quarter, a 17.7% boost from the prior period — and
a solid gain from a year ago.
It’s still overwhelmingly a purchase-money market, as homebuyer loans accounted for 80.4% of
agency business in early 2024. Purchase-mortgage volume was up on an annual basis, including
a 13.9% increase in Ginnie volume.
Fox news - Hannity wasnt a positive reference
to Fannie & Freddie on Green Banks comparison
it was a negative reference to Fannie & Freddie & Green Banks
— Cmdr Ron Luhmann (@usnavycmdr) April 5, 2024
it was a negative reference to Fannie & Freddie & Green Banks
— Cmdr Ron Luhmann (@usnavycmdr) April 5, 2024
Boom ! the guest on Hannity just brought
up Fannie Mae & Freddie Mac that Biden
will bring them up for Housing proposal
Boom ! the guest on Hannity just brought
up Fannie Mae & Freddie Mac that Biden
will bring them up for Housing proposal
Assessing the Impact of the 2021 Cap on GSE Business
Thurs, April 4, 2024 - dhollier@imfpubs.com
A policy change for the government-sponsored enterprises in the waning days of the
Trump administration prompted both expected and unexpected outcomes, according
to a new working paper released by the Federal Reserve Bank of Philadelphia.
The caps set by the Federal Housing Finance Agency affected loans for second homes
and investment properties. They also limited purchases of riskier loans to borrowers
with low FICO scores and high loan-to-value or debt-to-income ratios.
Deliveries to the GSEs of loans subject to the caps largely declined. The researchers
found that banks that previously sold the GSEs their more speculative loans from any
given county tended to allocate originations away from those areas when the caps
were put into place.
However, if the bank had a branch in that county — in other words, it was a local bank —
that trend was decidedly less pronounced. This observation confirms the theory that
local banks exploit their superior information about housing prices when deciding whether
to hold loans in their portfolio.
Another way to put it, banks continued to supply credit to speculative borrowers if those
loans were in regions where the banks had an information advantage. That was true
even though the policy change meant they had to hold the loans rather than sell them.
Assessing the Impact of the 2021 Cap on GSE Business
Thurs, April 4, 2024 - dhollier@imfpubs.com
A policy change for the government-sponsored enterprises in the waning days of the
Trump administration prompted both expected and unexpected outcomes, according
to a new working paper released by the Federal Reserve Bank of Philadelphia.
The caps set by the Federal Housing Finance Agency affected loans for second homes
and investment properties. They also limited purchases of riskier loans to borrowers
with low FICO scores and high loan-to-value or debt-to-income ratios.
Deliveries to the GSEs of loans subject to the caps largely declined. The researchers
found that banks that previously sold the GSEs their more speculative loans from any
given county tended to allocate originations away from those areas when the caps
were put into place.
However, if the bank had a branch in that county — in other words, it was a local bank —
that trend was decidedly less pronounced. This observation confirms the theory that
local banks exploit their superior information about housing prices when deciding whether
to hold loans in their portfolio.
Another way to put it, banks continued to supply credit to speculative borrowers if those
loans were in regions where the banks had an information advantage. That was true
even though the policy change meant they had to hold the loans rather than sell them.
FDIC on behalf of 20 failed banks and Freddie Mac suing 16 big banks
over 400 Billions on libor manipulation between 2007 to 2023. The latest
news is that taking depositions ended today. FDIC asked judge no more
deposition is needed. It seems they have enough evidence and witnesses
to get Billions of dollars from 16 big banks . several bankers have gone to
jail in UK. It is perceived that big banks will settle rather than going to court.
It has been said between 100-200 billion will be the amount of settlement.
How much of that will go to Freddie and I believe some money will go to
FNMA because of libor manipulations Freddie & FNMA lost Billions of dollars.
Fannie Mae (FNMA)
Post# 790972 of 790974
stoxjock Re: None
Wednesday, 04/03/2024 9:40:52 PM
Thanks Hon'ble Judge Naomi Buchwald...
Today Judge Naomi Buchwald rejected a Request for further Delay by Defendants in the LIBOR Case and ruled that "Discovery' by Plaintiffs FDIC as Receiver for "Federal Home Loan Mortgage Corp" (FMCC) has to be completed by tomorrow, while recognizing that she has given them time for 'continuing cooperation efforts' (meaning "Settlement Negotiations").
Looks like a substantial 'Settlement; is close in LIBOR Case and FNMA , FMCC will recover substantial monies!!! GLTA!
From another Board:
====================================================================
"FDIC filed a motion/request to ask the court to take limited # of depositions by Thursday April 4th. It seems that close of discovery is on 4/04 and not 4/14. With that we line up perfectly for some real actions starting next week.
4000 04/02/2024 LETTER MOTION for Conference to request approval from the Court to take a limited number of depositions following the close of fact discovery on April 4, 2024 addressed to Judge Naomi Reice Buchwald from James R. Martin and William Christopher Carmody dated 4/2/2024. Document filed by FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver, The Federal Home Loan Mortgage Corporation."
======================================================================================================
The FDIC Filing was in response to Judge Naomi's Order that tomorrow is the last date for Discovery and she is not granting any further 'extensions'..
The Court’s Response to the FDIC:
======================================================================================================
"4001 04/03/2024
ENDORSED LETTER addressed to Counsel from NAOMI REICE BUCHWALD UNITED STATES DISTRICT JUDGE dated 4/3/2024 re: The Court is in receipt of the Direct Action and OTC Plaintiffs' letter of April 2, 2024. ENDORSEMENT: Dear Counsel: The Court is in receipt of the Direct Action and OTC Plaintiffs' letter of April 2, 2024. See ECF No. 4000. Of course, the Court has no interest in interfering with counsels' continuing cooperative efforts as reflected in the existing scheduling order and its prior iteration. However, regardless of counsels' efforts inter se, the Court considers fact discovery closed as of April 4, 2024. Further, as the Court has repeatedly made crystal clear, there cannot and will not be any further adjournments of the class certification, summary judgment, and Daubert motions. Very truly yours, NAOMI REICE BUCHWALD, UNITED STATES DISTRICT JUDGE. (Signed by Judge Naomi Reice Buchwald on 4/3/2024)"
======================================================================================================
this cap is not what they have to have
to exit - its the amount of their yearly
mortgage portfolios of buying loans
the GSEs are more essential than ever
With Capital Scarce, GSEs Remain Critical
By Fotios Tsarouhis - April 3, 2024
https://www.multihousingnews.com/with-capital-scarce-gses-remain-critical/
--- How will Fannie and Freddie’s new mandates impact multifamily in 2024?
--- In today’s high interest rate environment, GSEs are shaping up to be more
important than they have been in years.
Even as FHFA has scaled back Fannie Mae and Freddie Mac’s combined loan cap to a combined $140 billion, new rules are making the deployment of capital to affordable and workforce housing easier. Each lender’s Low-Income Housing Tax Credit investment caps has been raised from $850 million to $1 billion annually. Meanwhile, debt issued to workforce housing projects is exempt from the $140 billion cap, creating an opportunity for increased investment in the sector.
The reduction of the 2023 cap of $150 to $140 billion in 2024 may ultimately be of little consequence. FHFA’s decision “is not cause for concern to me for two reasons”, said Emily Schultz, senior vice president, head of Fannie Mae originations, at Berkadia. “Firstly, neither Fannie Mae nor Freddie Mac came close to hitting their caps last year.”
Both entities ended last year at plus or minus $50 billion, said Schultz, noting that the Mortgage Bankers Association projects that the multifamily market will rise by 25 percent in 2024. That puts the agencies’ respective volumes at approximately $62.5 billion—well below the new lower cap.
Secondly, she observed, “the FHFA has been clear that they’ll be monitoring the caps relative to market size, and cap increases could be available if deemed necessary.”
Marc Cesare, senior managing director of originators at NewPoint Real Estate Capital agreed that the supply of GSE funds should match current demand. “With the macro challenges we are facing, along with workforce housing being exempt from the cap, we do not expect the $140 million cap to have much of an impact on multifamily lending this year,” he said.
Still, an eventual increase has its appeal. “Our hope is that number does go up because I think at some point there’s going to be a significant increase in transaction volume, and Fannie and Freddie want to be there,” said David Link, executive vice president and regional managing director at NorthMarq Capital.
Dangling a carrot
The FHFA is concentrated on workforce housing and “the carrot” they’re using is allowing this to be uncapped business, Schultz noted. But workforce housing is a key part of the GSEs’ mission, with both likely to focus on it “regardless of the cap exclusion carrot.”
The agency said that workforce housing loans preserve affordable rents, usually without depending on public subsidies. Affordability levels of workforce housing correspond to 80 percent to 120 percent of AMI, depending on the market.
The move is not surprising, Link concurred, but it is nonetheless reassuring in this climate. “It’s important that they do as much of that as possible because, in the near term, banks’ balance sheets aren’t in great shape and they’re going to struggle,” he said.
LIHTC caps raised
The increased LIHTC investment caps for both GSEs from $850 million to $1 billion, meanwhile, is a significant and welcomed jump, Cesare said. One that comes with “a continued emphasis on supporting mission-related transactions, especially those that the FHFA has identified as historically having difficulty attracting investors.”
Any investments by the GSEs above $500 million must be for such transactions, including deals backing housing in “Duty to Serve”-designated rural areas, supporting mixed-income housing or providing supportive housing, Cesare noted.
“This increase comes at an important time as the demand for LIHTCs has softened over the past year, resulting in a lower average price per credit and corresponding decrease in property level subsidy,” said David Leopold, senior vice president, head of affordable housing at Berkadia, predicting that the additional $300 million will provide “a marginal” improvement affordable housing investment.
How vital are the GSEs?
Fannie Mae and Freddie Mac were seen as critical lenders in 2023, able to parcel out financing while other lenders were heading for the hills. This dynamic seems likely to hold in 2024 with both firms playing a major role in keeping multifamily liquid. This is especially true in the workforce and affordable sectors, said Cesare, though there is not a total dearth of capital. “As of early 2024, we are seeing that capital outside of the agencies is still available,” he remarked. “Albeit it is a bit more expensive than agency pricing.”
Indeed, the GSEs, which last year updated their underwriting standards to be more selective, are operating in a much different landscape than the one of the early 2020s.
“To some extent, I believe the GSEs will continue to be the stable source of capital in 2024,” said Schultz. “However, since the beginning of the year, we’re seeing more activity from non-agency debt sources.” One of the main ones is insurance companies, which “have new allocations that they’re looking to deploy,” particularly for Class A, lower leverage business, and private capital.
CMBS, meanwhile, is mounting a comeback. “We’re witnessing spread compression in that space,” said Schultz. “With respect to banks, activity is ramping up, but due to capital requirements and slow pre-pays, it’s still somewhat a case-by-case scenario.”
The GSEs are likely to play an even more important role in 2024 than they have in recent years, according to Link: “Banks were incredibly active in ’21, ’22, in the first quarter of ’23, and then they pulled back dramatically and, all of a sudden, what’s left is the life companies.”
While those insurers will be important in financing multifamily projects, Fannie Fae and Freddie Mac will likely play the largest role, said Link. “I think they’re more able to get really competitive on rates when it comes to workforce housing, affordable housing.”
2024 and beyond
The outlook for the year will depend on macroeconomic variables, including the Fed’s next moves and the economy’s overall health. Closer to home, the number of projects coming online will likely affect the sector’s performance.
“Although the market hasn’t fully found its new normal, it’s getting closer,” Schultz said. “Buyers and sellers continue to become more aligned on pricing, as the bid/ask gap has shrunk over the past year. The refinance-to-acquisition ratio is another gauge of market health, and we’re seeing that move closer to 50/50 as 2024 applications come in, which is positive.”
The Federal Reserve’s actions will have a major impact on financing. “The numbers that Fannie put out in 2023 were challenged largely because of the aggressive rise in interest rates,” Link said. “People just weren’t ready to transact.”
This could change as the central bank lowers rates, as they are expected to do. “I would be surprised if the transaction volume for the agencies was as low as it was in 2023,” Link added. “We feel pretty optimistic that there will be more transaction volume, and largely because the banks are going to force activity to get things off their books.”
The potential for delinquencies is also a consideration for multifamily. Factors impacting the likelihood of increased defaults include “maturing floating rate debt, maturing interest rate caps, new supply and moderating fundamentals in certain markets,” according to Cesare. Public policy will also have an impact on the market, with lenders paying close attention to monetary and regulatory considerations, as well as November’s presidential and congressional elections.
Read the April 2024 issue of MHN.
With Capital Scarce, GSEs Remain Critical
By Fotios Tsarouhis - April 3, 2024
https://www.multihousingnews.com/with-capital-scarce-gses-remain-critical/
--- How will Fannie and Freddie’s new mandates impact multifamily in 2024?
--- In today’s high interest rate environment, GSEs are shaping up to be more
important than they have been in years.
Even as FHFA has scaled back Fannie Mae and Freddie Mac’s combined loan cap to a combined $140 billion, new rules are making the deployment of capital to affordable and workforce housing easier. Each lender’s Low-Income Housing Tax Credit investment caps has been raised from $850 million to $1 billion annually. Meanwhile, debt issued to workforce housing projects is exempt from the $140 billion cap, creating an opportunity for increased investment in the sector.
The reduction of the 2023 cap of $150 to $140 billion in 2024 may ultimately be of little consequence. FHFA’s decision “is not cause for concern to me for two reasons”, said Emily Schultz, senior vice president, head of Fannie Mae originations, at Berkadia. “Firstly, neither Fannie Mae nor Freddie Mac came close to hitting their caps last year.”
Both entities ended last year at plus or minus $50 billion, said Schultz, noting that the Mortgage Bankers Association projects that the multifamily market will rise by 25 percent in 2024. That puts the agencies’ respective volumes at approximately $62.5 billion—well below the new lower cap.
Secondly, she observed, “the FHFA has been clear that they’ll be monitoring the caps relative to market size, and cap increases could be available if deemed necessary.”
Marc Cesare, senior managing director of originators at NewPoint Real Estate Capital agreed that the supply of GSE funds should match current demand. “With the macro challenges we are facing, along with workforce housing being exempt from the cap, we do not expect the $140 million cap to have much of an impact on multifamily lending this year,” he said.
Still, an eventual increase has its appeal. “Our hope is that number does go up because I think at some point there’s going to be a significant increase in transaction volume, and Fannie and Freddie want to be there,” said David Link, executive vice president and regional managing director at NorthMarq Capital.
Dangling a carrot
The FHFA is concentrated on workforce housing and “the carrot” they’re using is allowing this to be uncapped business, Schultz noted. But workforce housing is a key part of the GSEs’ mission, with both likely to focus on it “regardless of the cap exclusion carrot.”
The agency said that workforce housing loans preserve affordable rents, usually without depending on public subsidies. Affordability levels of workforce housing correspond to 80 percent to 120 percent of AMI, depending on the market.
The move is not surprising, Link concurred, but it is nonetheless reassuring in this climate. “It’s important that they do as much of that as possible because, in the near term, banks’ balance sheets aren’t in great shape and they’re going to struggle,” he said.
LIHTC caps raised
The increased LIHTC investment caps for both GSEs from $850 million to $1 billion, meanwhile, is a significant and welcomed jump, Cesare said. One that comes with “a continued emphasis on supporting mission-related transactions, especially those that the FHFA has identified as historically having difficulty attracting investors.”
Any investments by the GSEs above $500 million must be for such transactions, including deals backing housing in “Duty to Serve”-designated rural areas, supporting mixed-income housing or providing supportive housing, Cesare noted.
“This increase comes at an important time as the demand for LIHTCs has softened over the past year, resulting in a lower average price per credit and corresponding decrease in property level subsidy,” said David Leopold, senior vice president, head of affordable housing at Berkadia, predicting that the additional $300 million will provide “a marginal” improvement affordable housing investment.
How vital are the GSEs?
Fannie Mae and Freddie Mac were seen as critical lenders in 2023, able to parcel out financing while other lenders were heading for the hills. This dynamic seems likely to hold in 2024 with both firms playing a major role in keeping multifamily liquid. This is especially true in the workforce and affordable sectors, said Cesare, though there is not a total dearth of capital. “As of early 2024, we are seeing that capital outside of the agencies is still available,” he remarked. “Albeit it is a bit more expensive than agency pricing.”
Indeed, the GSEs, which last year updated their underwriting standards to be more selective, are operating in a much different landscape than the one of the early 2020s.
“To some extent, I believe the GSEs will continue to be the stable source of capital in 2024,” said Schultz. “However, since the beginning of the year, we’re seeing more activity from non-agency debt sources.” One of the main ones is insurance companies, which “have new allocations that they’re looking to deploy,” particularly for Class A, lower leverage business, and private capital.
CMBS, meanwhile, is mounting a comeback. “We’re witnessing spread compression in that space,” said Schultz. “With respect to banks, activity is ramping up, but due to capital requirements and slow pre-pays, it’s still somewhat a case-by-case scenario.”
The GSEs are likely to play an even more important role in 2024 than they have in recent years, according to Link: “Banks were incredibly active in ’21, ’22, in the first quarter of ’23, and then they pulled back dramatically and, all of a sudden, what’s left is the life companies.”
While those insurers will be important in financing multifamily projects, Fannie Fae and Freddie Mac will likely play the largest role, said Link. “I think they’re more able to get really competitive on rates when it comes to workforce housing, affordable housing.”
2024 and beyond
The outlook for the year will depend on macroeconomic variables, including the Fed’s next moves and the economy’s overall health. Closer to home, the number of projects coming online will likely affect the sector’s performance.
“Although the market hasn’t fully found its new normal, it’s getting closer,” Schultz said. “Buyers and sellers continue to become more aligned on pricing, as the bid/ask gap has shrunk over the past year. The refinance-to-acquisition ratio is another gauge of market health, and we’re seeing that move closer to 50/50 as 2024 applications come in, which is positive.”
The Federal Reserve’s actions will have a major impact on financing. “The numbers that Fannie put out in 2023 were challenged largely because of the aggressive rise in interest rates,” Link said. “People just weren’t ready to transact.”
This could change as the central bank lowers rates, as they are expected to do. “I would be surprised if the transaction volume for the agencies was as low as it was in 2023,” Link added. “We feel pretty optimistic that there will be more transaction volume, and largely because the banks are going to force activity to get things off their books.”
The potential for delinquencies is also a consideration for multifamily. Factors impacting the likelihood of increased defaults include “maturing floating rate debt, maturing interest rate caps, new supply and moderating fundamentals in certain markets,” according to Cesare. Public policy will also have an impact on the market, with lenders paying close attention to monetary and regulatory considerations, as well as November’s presidential and congressional elections.
Read the April 2024 issue of MHN.
Carney making clown GSE comments ...
What lying crackpot told you that the GSEs haven't generated hundreds in billions in profits? Take a class in accounting, one that explains timing differences.
— David Fiderer (@Ny1david) April 2, 2024
GSE shareholders took litigation risk. But the shares never rose & fell like Gamestop or AMC.
— David Fiderer (@Ny1david) April 2, 2024
Carney deepthroats anyone that pays him
— Fractious (@fractious4ever) April 2, 2024
Singer Beyonce referenced Fannie Mae on a song in her new album, which came out Friday. The lyric: “Wildfire burnt his house down. Insurance ain’t going to pay no Fannie Mae.” The song builds off the songs “These Boots Were Made for Walking” and “Good Vibrations.”
Tim Rood, the former head of government relations for SitusAMC, has a new artificial intelligence-related project called Impact Capitol. A “soft launch” is currently underway. In an email to IMFnews, he explains, “We have taken a novel approach to generative artificial intelligence that preserves the benefit and features of a chatbot like ChatGPT — free form text, ad hoc questions, dialogue with the system for deeper and tailored learning — but with real-time information, accurate and verifiable results, and a system that understands real estate and mortgage like none other.” More to come later in the week…
Tim Rood, the former head of government relations for SitusAMC, has a new artificial intelligence-related project called Impact Capitol. A “soft launch” is currently underway. In an email to IMFnews, he explains, “We have taken a novel approach to generative artificial intelligence that preserves the benefit and features of a chatbot like ChatGPT — free form text, ad hoc questions, dialogue with the system for deeper and tailored learning — but with real-time information, accurate and verifiable results, and a system that understands real estate and mortgage like none other.” More to come later in the week…
Singer Beyonce referenced Fannie Mae on a song in her new album, which came out Friday. The lyric: “Wildfire burnt his house down. Insurance ain’t going to pay no Fannie Mae.” The song builds off the songs “These Boots Were Made for Walking” and “Good Vibrations.”
along4zride - Re: None
Saturday, 03/30/2024 4:41:10 PM
Huge increase in share price for Fannie Mae . Two dollars should print rather quickly next week as there is wonderful sentiment out there that conservatorship will soon be coming to a end .
Arnold
agree w MIA despite the RIDICULOUS cavalier
comments made by Hamish Hume pod with Tim Rood - laughing about
their Golf Games meanwhile shareholders getting the SHAFT -
He should have known better than ANYONE that WORDS MATER -
but it will NOT CHANGE the INEVITABLE RESULT of the
$Tidal $Wave of $BUYING for $Fannie & Freddie $Common Shares !!!
He's full of shit.
— MIA (@MIA95629998) March 30, 2024
It could've played a factor in the drop & probably did. But
MM manipulation, short selling @ resistance, profit taking, & Hamish comments just helped it along.
Not worried. We'll rebound. Hit pieces & foolish lawyer talk CANNOT stop us.
TY Navy#fanniegate pic.twitter.com/xZFGTCaCGr
agree w MIA despite the RIDICULOUS cavalier
comments made by Hamish Hume pod with Tim Rood - laughing about
their Golf Games meanwhile shareholders getting the SHAFT -
He should have known better than ANYONE that WORDS MATER -
but it will NOT CHANGE the INEVITABLE RESULT of the
$Tidal $Wave of $BUYING for $Fannie & Freddie $Common Shares !!!
He's full of shit.
— MIA (@MIA95629998) March 30, 2024
It could've played a factor in the drop & probably did. But
MM manipulation, short selling @ resistance, profit taking, & Hamish comments just helped it along.
Not worried. We'll rebound. Hit pieces & foolish lawyer talk CANNOT stop us.
TY Navy#fanniegate pic.twitter.com/xZFGTCaCGr
Did she discuss the $100bn+ available to her within 12 months for use on affordable housing via warrant monetization in Fannie/Freddie? The elephant in the room is just getting bigger- FHFA is not an independent agency. If Biden cares about housing, release from conservatorship…
— Alec Mazo (@Alec_Mazo) March 29, 2024
The Eight Circuit released its decision yesterday
affirming dismissal of Bhatti Plaintiffs’ lawsuit
https://www.glenbradford.com/wp-content/uploads/2024/03/23-1051-5377857.pdf
Congress Divided on Solutions for Housing Affordability
Fri March 29, 2024 - mhogan@imfpubs.com
During a House Financial Services subcommittee hearing last week, lawmakers across both parties
agreed that housing costs are unaffordable, but there was no consensus on how to address the issue.
Rep. Walter Davidson, R-OH, chair of the Subcommittee on Housing and Insurance, said solutions
can’t be limited to increased federal spending, which would drive up home prices and inflation.
He called for an all-of-government approach to boost supply.
Rep. Maxine Waters, D-CA, ranking member of the full committee, urged lawmakers to come together
to create real pathways to affordable housing and homeownership. Waters said she still mourned the
loss of the housing provisions in the earlier Build Back Better legislation “at the hands of two Democrats.”
Jessica Lautz, deputy chief economist at the National Association of Realtors, said first-time homebuyers are struggling to compete with other buyers. The average age of a first-time homebuyer in the 1980s was late-20s, but now it’s mid-30s, she said.
with Hamish making SUCH NEGATIVE Public Comments
like this - WHO NEEDS the Corrupt FHFA and Treasury ?
What WAS HE THINKING ??? - OBVIOUSLY HE WASN'T !!!
Do we need to file for a "Gag ORDER" on Hamish Hume ?...
Instead of "focusing" on the Unanimous 8-0 DC Court Verdict
that HE WON & that the GOVT "Violated the Contract" and
the Shareholder Damages Award - he was saying
"Post Judgement Motions & Appeals " could take 2 years and
that the Govt will NOT want to release these Very Profitable
companies & END the CONSERVATORSHIP "ANYTIME SOON "
that "other pending shareholders cases Against the GOVT will
be A Difficult Thing to ACCOMPLISH ... there's still
"a COUPLE of YEARS" left on this SAGA it was like he
was Laying OUT the next several YEARS of HIS
LEGAL CAREER PAYCHECK !!!
Either Hamish actually believes that the courts are the only solution or else he’s unwilling to acknowledge that he realizes an administrative solution is a viable way out of conservatorship. He’s either naive or not being truthful.
— RWD (@PhiloTheol) March 29, 2024
with Hamish making SUCH NEGATIVE Public Comments
like this - who needs the Corrupt FHFA and Treasury ?
What WAS HE THINKING ??? - OBVIOUSLY HE WASN'T !!!
Do we need to file for a "Gag ORDER" on Hamish Hume ?...
Instead of "focusing" on the Unanimous 8-0 DC Court Verdict
that HE WON & that the GOVT "Violated the Contract" and
the Shareholder Damages Award - he was saying Post Judgement
Motions & Appeals could take 2 years and that the Govt will NOT
want to release these Very Profitable companies &
END the CONSERVATORSHIP "ANYTIME SOON " that
"other pending shareholders cases Against the GOVT will
be A Difficult Thing to ACCOMPLISH ... there's still a COUPLE of YEARS
left on this SAGA it was like he was Laying OUT the next several
YEARS of HIS LEGAL CAREER PAYCHECK !!!
Either Hamish actually believes that the courts are the only solution or else he’s unwilling to acknowledge that he realizes an administrative solution is a viable way out of conservatorship. He’s either naive or not being truthful.
— RWD (@PhiloTheol) March 29, 2024
with Hamish making public comments like this - who needs
the Corrupt FHFA and Treasury ? we need to file for a
Gag order on Hamish Hume ... What was he Thinking? Sheeeeesh !
Either Hamish actually believes that the courts are the only solution or else he’s unwilling to acknowledge that he realizes an administrative solution is a viable way out of conservatorship. He’s either naive or not being truthful.
— RWD (@PhiloTheol) March 29, 2024
IMO - Hamish Hume pessimistic comments during Tim Rood tanked the share price today - whaddya think ?
https://open.spotify.com/episode/1EBGbLEYNbfzByGiNd388P
/usnavycmdr/status/1773537419913998701?t=Ore2RrfVt-z8p95ywsv0WQ&s=19
Tim Rood interview w Hamish Hume
Hamish Hume, Partner, Boies Schiller Flexner LLP Flexner, talks about his successful $612 million, breach-of-contract lawsuit on behalf of shareholders of Fannie Mae and Freddie Mac, in the latest episode of On the Hill. https://t.co/nVPM0iMuTw
— Tim Rood (@tim_rood_) March 28, 2024