Mr Cooper Group Inc fka COOP

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OFF TOPIC: Fannie, Freddie falls after appeals court rejects investors' argument


THIS IS BS 4EVER...THOSE SCUMBAGS AND THE GOVERNMENT....
TODAY'S NEWS...



navycmdr Member Level Thursday, 08/23/18 12:38:30 PM
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Fannie, Freddie falls after appeals court rejects investors' argument

Aug. 23, 2018 12:31 PM ET|By: Liz Kiesche, SA News Editor

--- Fannie Mae (OTCQB:FNMA -1.6%) fell as much as 7.9% and Freddie Mac (OTCQB:FMCC -0.5%) as much as 7.6% after an appeals court rejected investors' arguments that the conservator created to run Fannie and Freddie exceeded its powers.

--- The U.S. Court of Appeals for the Eighth Circuit ruled that it agrees with the district court that the "FHFA hasn't exceeded its powers in assenting to the net worth sweep," Bloomberg reports.

--- That means that Freddie and Fannie's excess capital will continue to be swept into the U.S. Treasury.