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Damn, I missed that gap. It happened so fast. That's money in the bank. MM bastards never do it the same twice. LOL Here we go back up.
People need to wake up and realize how good things are now. Remember occupy Wall Street and all the protests. Kids out of college couldn’t get jobs. It was not that long ago. Nothing like a job and good economy to keep people off the streets. Hillary would have never released the gses and here we are on the verge.
May 30th 2013. A day that will live in infamy.
Do I smell a gap up tomorrow?
This stock is going to be a roller coaster ride for the next month
Ouch
Qatar oil loading
Good stuff. Thanks.
Then there’s the question of “soundness”. Did they even need a bailout?
Releasing the GSE’s “proves” that the housing crisis has been “resolved “ under his administration.
Profit taking. $3 is a tough nut to crack
6120 but who’s counting? I give him credit for posting his buy/sells.
Now you can buy some pants
A lot of people cried pump and dump when it shot to $2 and dropped to 1.60. That was a few days ago. Look where we are now.
what volume!
Looks like a short squeeze
Yahoo!
Thanks
Do you have a link for that? I remember seeing Benzinga on this board
Go TH!
Haha just releasing will put it over $10. It went to $5 on rumors of this after Trump was elected.
Pushing HOD, love it
He’s greasing the skids
We need to close above 1.63
yes they probably drove the price higher than it should have gone right now and yes there is a lot of potential here
Need the 1.63 support to hold or it's going to be a slow drip back down. Was this another pump and dump? Where is Blue? What happened to Calabria and Mnuchin?
A morning dip is better than a slow drip
Yes I figured we’d close red but down a few cents is a far cry from this morning
Nice try Alongz. Arnold is too nice and would not be so antagonistic, even if someone deserved it (and they do). Anyway you are correct to say this is a dangerous time to try and swing trade this stock. I regret that I missed the gap up this morning. A FNMA gap is money in the bank and has been even more reliable than your calls.
FNMA never more than 6 days green in a row. Reset and hopefully green again tomorrow.
I don’t think so. Tomorrow it will be back up. Seen this a dozen times.
Not surprised. I expected this yesterday.
I'm wondering how long it can keep this up before it gets over bought
wow, just wow!
Glad to see you back. I know I don't need to tell you how to trade but next time only trade a portion of your shares instead of the whole lot. We've got a lot of wind in our sails here. I hate to sound clichéd but we really could see $2 by Friday if not sooner.
Government doesn't save money on a shut down. They back pay everything once the shutdown is over.
Yeah I really expected a pull back today. FNMA looking very strong on no official news, just speculation. If this continues to consolidate at 1.75 we can expect a quick jump to $2 soon.
Interesting concept. He becomes scapegoat.
Milken Institute housing team calls for administrative
reform to strengthen housing finance system, paving the way
for legislative
action
PR Newswire
10:15 AM ET
Several key actions can be taken to reform and strengthen
the U.S. housing finance system in the absence of federal
legislation, according to a new Milken Institute report. In
the interim, however, the conservatorship of Fannie Mae and
Freddie Mac (GSEs) should continue until Congress passes
legislation to resolve critical GSE charter flaws and
establish a safer and more effective system.
https://mma.prnewswire.com/media/478360/Mil
en_Institute_Logo.jpg
The Federal Housing
Finance Agency (FHFA), Treasury Department, Consumer
Financial Protection Bureau (CFPB), and other housing
finance agencies can take affirmative steps without
legislation to reform the housing finance landscape and
reduce barriers to achieving the bipartisan legislation
required to finalize the post-crisis housing finance reform
effort, according to "A Blueprint for Administrative Reform
of the Housing Finance System." The report's recommendations
address existing business underway in the conservatorship,
as well as other reforms that go beyond determining the
future of the GSEs.
"Ending the
conservatorship without further reforms would preserve flaws
that allow the GSEs to privatize profits and socialize
losses," said co-author Eric Kaplan, director of housing
finance policy at the Milken Institute Center for Financial
Markets. "We need to end the too-big-to-fail GSE duopoly.
Implementing our recommendations would help strengthen the
housing finance system and pave the way for bipartisan
legislation putting in place the last piece of the housing
finance reform puzzle."
As
government-sponsored enterprises (GSEs), Fannie Mae and
Freddie Mac buy mortgages and package them into securities
for sale to investors. The FHFA took the enterprises into
conservatorship during the financial crisis as losses pushed
the GSEs toward insolvency.
The report
recommends measures to strengthen the housing finance
system, including greater transparency into and FHFA
oversight of GSE activities, more risk-based pricing
combined with explicit affordable housing subsidies, and
finalizing a GSE capital rule that supports a housing
finance system driven by private capital that can survive
future downturns and maintain liquidity for creditworthy
borrowers throughout the economic cycle. The report also
recommends actions for the CFPB to take regarding the
ability to repay/qualified mortgage rule and facilitating
innovation while maintaining consumer protection.
"A Blueprint for Administrative Reform of
the Housing Finance System" was written by Kaplan and Milken
Institute senior fellows Michael Stegman, former senior
policy advisor for housing at the National Economic Council;
Phillip Swagel, professor at the University of Maryland
School of Public Policy and former assistant secretary for
economic policy at the Treasury Department; and Theodore
Tozer, former president of the Government National Mortgage
Association (Ginnie Mae).
Other suggested
reforms include:
-- Expanding the
functionality of the Common Securitization Platform and
opening access to key GSE technologies to future
competitors.
-- Reducing or eliminating
the GSEs' presence in markets that are adequately served by
the private sector, such as second-home financing and most
cash-out refinancing.
-- Providing Ginnie
Mae and FHA with resources to improve technology and
operations.
-- Making better use of the
Federal Housing Finance Oversight Board to strengthen
coordination among components of the housing finance
ecosystem.
"These recommendations are
drawn from deep expertise in our housing finance policy
team, who bring decades of government and industry
experience along with a commitment to crafting bipartisan
solutions by focusing on substantive policy goals and the
tools available to achieve them," explains Michael Piwowar,
executive director of the Milken Institute Center for
Financial Markets and a former commissioner and acting
chairman of the Securities and Exchange Commission.
The authors will be engaging with industry
and government stakeholders in coming months to advance the
recommendations in the report, which can be found online at
www.milkeninstitute.org
Contact: Geoffrey
Baum, gbaum@milkeninstitute.org
https://c212.net/c/img/favicon.png?sn=DC172
4&sd=2019-01-08
View original content to
download
multimedia:http://www.prnewswire.com/news-releases/milken-ins
itute-housing-team-calls-for-administrative-reform-to-strengt
en-housing-finance-system-paving-the-way-for-legislative-acti
n-300774588.html
SOURCE Milken Institute
Here's a Fannie-Freddie fix proposal that greases the skids
for
Congress
MarketWatch
1:46 PM ET
By Andrea Riquier
A group of
academics and practitioners have tried to make it as easy as
possible for legislators to reform housing finance
As a new Congress settles into Washington, there's some
very old business lurking that's not likely to grab its
attention any time soon.
Fannie Mae and Freddie
Mac, the two giant mortgage guarantors, are still under
government control, as they have been since the 2008
financial crisis. And despite passing all kinds of
milestones since that time -- the 10-year anniversary of the
crisis
(http://www.marketwatch.com/story/the-regulator-the-whistlebl
wer-and-the-ceo-key-housing-players-reflect-on-the-financial-
risis-10-years-later-2018-09-06), the first post-crisis
taxpayer bailout
(http://www.marketwatch.com/story/fannie-mae-to-turn-to-taxpa
ers-after-65-billion-loss-2018-02-14) -- Congress has come
no closer to finding a permanent fix
(http://www.marketwatch.com/story/as-conservatorship-reaches-
0th-birthday-another-overhaul-proposal-for-fannie-and-freddie
2018-09-07) for the nation's housing finance system.
Now, a new paper suggests that's okay. It's
better to leave Fannie(FNMA) and Freddie(FMCC) in
conservatorship, a structure that's worked surprisingly
well, its authors argue, while Congress works to find a
permanent structure for housing finance that won't replicate
the problems that helped get the enterprises into the
financial jam in the first place.
That contrasts
with many previous reform proposals, which advocate getting
the responsibility for the enterprises away from taxpayers
as quickly as possible, especially as the long economic
expansion seems more and more likely to come to an end.
The paper
(https://assets1b.milkeninstitute.org/assets/Publication/View
oint/PDF/Blueprint-Admin-Reform-HF-System-1.7.2019-v2.pdf),
released Tuesday by the Milken Institute Center for
Financial Markets, proposes "administrative actions,"
meaning those that can be accomplished by the Treasury
Department and the head of Fannie and Freddie's regulator,
to make Congress' job easier, if legislators ever do decide
to address housing reform. The administrative fix idea has
caught on recently, as the regulator role has passed to
someone most housing observers believe will work well with
Treasury Secretary Steven Mnuchin
(http://www.marketwatch.com/story/home-prices-have-surged-and
so-will-the-governments-share-of-mortgages-2018-11-27).
"Administrative measures can address many of the
stumbling blocks to legislative action and thereby set the
stage for further reform that includes changes to the GSE
charters," the authors note.
Among the steps the
authors propose are reviewing how much capital Fannie and
Freddie should hold, via another public comment process.
They also suggest completing initial work that's been done
to unify the process by which Fannie and Freddie each take
the mortgages that they buy and package them for bond
investors. That may sound wonky, but many housing observers
think it's a crucial step for moving toward a single,
utility-like entity that underpins the housing finance
system, rather than leaving it to two corporations competing
recklessly with each other for the biggest share of
business.
Read: Congress wouldn't do it, so
Fannie and Freddie reformed themselves
(http://www.marketwatch.com/story/congress-wouldnt-do-it-so-f
nnie-and-freddie-reformed-themselves-2017-08-03)
More controversially, the two enterprises should be allowed
to hold the capital they produce, rather than remitting it
to the Treasury Department. That's a step that seems obvious
-- no company can operate indefinitely by sweeping all its
profits
(http://www.marketwatch.com/story/fannie-mae-ceo-says-its-not
sustainable-to-operate-without-capital-2016-05-05) to
another entity -- but the current system has clearly worked
well enough for taxpayers that the government hasn't hustled
to change it.
Those ideas have been discussed by
housing finance participants for years, with varying degrees
of support. The authors propose a few newer ones, including
making fees that the GSEs charge to lenders more closely
tied to how risky the mortgages are. Right now, the authors
write, low-risk borrowers pay higher fees in order to help
subsidize the broader housing market. But this leads to
"adverse selection" for Fannie and Freddie, as loans from
lower-risk borrowers wind up being bought by private
investors or retained by banks. (It should be noted that the
performance of mortgages bought in conservatorship
(https://www.calculatedriskblog.com/2018/06/fannie-mae-mortga
e-serious-delinquency.html) has been stellar.)
The enterprises' footprint should also be "tailored," the
authors say, to no longer include things like cash-out
refinances and second-home financing. "The private sector
can provide loan products for these purposes, subject to
applicable guardrails and consumer protections," they wrote.
"There is no need for a government guarantee with the
concomitant taxpayer risk for an activity that does not
further the societal goal of affordable homeownership."
That's an idea that's made the rounds recently in
Washington as something that would gain support from both
parties. Liberals like
(http://www.marketwatch.com/story/elizabeth-warren-proposes-l
gislation-for-affordable-housing-crisis-2018-09-25) the idea
of keeping Fannie and Freddie's focus on affordable
homeownership for all, while conservatives prefer
(http://www.marketwatch.com/story/as-conservatorship-reaches-
0th-birthday-another-overhaul-proposal-for-fannie-and-freddie
2018-09-07) that the private sector take over as much of
their work as possible.
Also read:House prices
have surged, and so will the government's mortgage
obligations
(http://www.marketwatch.com/story/home-prices-have-surged-and
so-will-the-governments-share-of-mortgages-2018-11-27)
-Andrea Riquier; 415-439-6400;
AskNewswires@dowjones.com
(END) Dow
Jones Newswires
January 08, 2019 13:46 ET (18:46
GMT)
Copyright (c) 2019 Dow Jones & Company,
Inc.