The first thing that has to happen before anything else is to take care of the seniors. No one is investing a single penny until that is out of the way.
More Questions, Questions Questions only we will know after the Govenment who that might be ever release the GSE's
Quote : Not arguing ANSWER : I understand you!
Quote: No name noted -- if I understood - that JPS might be converted to common WITH holder agreement that the common they (JPS holders) then own does not get hammered by the big dilution that the GOV could call for - interesting if doable (That assumes the GOV bull dozed the common - I assume but he did not say)
ANSWER : That can happen! But only if the conversion doesn't harm JPS holders and there original invest ( $50 par or $25 par) is the same value as the new converted common stock if that were to happen. It would still have to be approved by current holders.
Quote: Why go for common when things go south? Common is the weakest holding possible when things are in the red)
ANSWER: I hold both common now on the hope that leading up to and PR of release of the GSE commons shoot up to anywhere between $5 to $15 or more but who knows how the market will react. I hold them for quick cash, take it out before any terms of the release is made public I don't trust the Government to do right by common shareholders even Trump said he'd sell the warrants for a huge profit in his letter and beat you MC has that on his mind also.
Quote: Thanks to you and many others here - I know what the JPS says in its "documents" be they contract or offering document --- holders must approve
ANSWER: I'm holding very old JPS on Freddie with the hope they get called. ($50 par) My Fannie JPS are all $25 par FNMAT 8.25% AND FNMAJ 7.65% holding those for dividends in the future if the Gov doesn't convert and div's are turned back on after release.
My thoughts on JPS or some getting called. Some may get called and clear out dead wood and some might not get called. I own a very large chunk of FMCCI 1996 JPS the dividend isn't very hight but they are the oldest and are $50 par so ones like this might get called. Also there is alot more Freddie JPS then Fannie so the odds of Freddies JPS getting called is alot higher I feel. The other thing I'd like to point out I was reading though most of the Fannie JPS terms some got called in 2007 and 2011 not at par at par value and some were !!! So there is a chance some or all get called before release and at what terms????.
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