Replies to post #84773 on Fannie Mae-No Politics (FNMA)

[Penny Gold Mine]

Same thing you were saying when it was 10% less than where it is. Guess that was wrong too.

Gltu

PGM

[buflo]

Along4zride load up at $1

[tinsel12]

FROM THE CEO FANNIE MAE

We recognize that we have an out-sized role
in the market. In a properly functioning housing
market‚ Fannie Mae would play a smaller role.
However‚ private capital is naturally opportunistic‚
participating when times are good and moving to
the sidelines when conditions are bad. Almost five
years after the onset of the financial crisis‚ we see
limited evidence of substantial private capital ready
to share mortgage credit risk. By keeping funds
flowing when other sources are not‚ we support
the housing recovery‚ which strengthens the U.S.
economy

Laying the foundation for a better housing finance
system requires a collective effort from (banks) to establish and implement industry standards‚ develop better
mechanisms to price and manage credit risk‚ build
new infrastructure for accessing global capital
markets‚ and facilitate the collection and reporting
of data for accurate ?nancial reporting and improved
risk management. This foundation must be capable
of attracting and retaining sufficient capital to fund
our existing and future housing needs.
The environment that led to the housing crisis was
characterized by an erosion of credit standards‚ an
industry chasing volume‚ and poor visibility into loan
quality. At Fannie Mae‚ we are charged with being a
responsible standard setter. We‚ and the industry as
a whole‚ have taken action to evolve standards in a
direction to help borrowers sustain home ownership.
The aim of robust underwriting standards and
verification of the creditworthiness of borrowers
is not to eliminate any possibility that a mortgage
will fail over its lifetime. As we work toward a better
system‚ creditors make reasonable and rigorous
assessments of one’s ability to pay (including one’s
income‚ net worth‚ and other obligations) and credit
history‚ backed by documented evidence. This
collective assessment will help match a quali?ed
borrower with an appropriate product and rate.
But borrower eligibility is only as effective as the
loan origination process that follows. To ensure
everyone operates on a level playing field‚ we
worked with our partners to launch industry-wide
tools and solutions. These initiatives are designed
to clarify and streamline the underwriting process‚
create consistent sets of required loan-level and
property appraisal data‚ and enforce checks-and balances on loans before they are delivered to our doorstep. We also implemented a revised post-purchase review process to confirm the accuracy
of loan data‚ eligibility‚ and much more. The goal
is greater transparency to enable all parties to see
and evaluate risk early in the loan manufacturing process.
These new tools have contributed to a significant
decline in the post-purchase review defect rate.
The improvements in underwriting and eligibility
standards also have led to a pro?table new book of
business at Fannie Mae

FnF have been American icons for centuries and have operated smoothly except for the last several years. Fully privatizing them would be devastating to the American people with mainly just the banks benefiting.

“I believe that banking institutions are more dangerous to our liberties than standing armies.” – Thomas Jefferson

[Doin_work]

This is called trying to scare people. In "along4zride"'s mind he'll post as many negative un-true things about as many companies as he can, then turn around and buy the stocks he just told everyone to sell.

Obviously no one listens to you so get the fuck off these forums along4zride, you've never posted ANYTHING, and I mean ANYTHING that is worth anybody's time. Just a bunch of CAPS LOCK MESSAGES SPEWING LIES!

[Mt69sinai]

I thought they didn't have Internet in Korea??? WTF!!
$$$FNMA$$$

[mrfence]

Frivolous lawsuit against US Treasury/Government you say? Interesting http://abcnews.go.com/GMA/Books/book-excerpt-brink-henry-paulson-jr/story?id=9713451#.UdW7rhPn_VJ

EXCERPT: Henry M. Paulson Jr.'s: 'On the Brink'

Feb. 1, 2010

In his new book, former Treasury Secretary Henry M. Paulson Jr. describes the efforts of the elite in the politicial and finacial world in response to the 2008 financial crisis.

"On the Brink" is a memoir of Paulson's time in the center of the crisis. He recounts the key decisions that were made -- including controversial ones such as the bailout of AIG -- and details debating the situation with the top political and economic officials of the time.

Paulson also outlines policies he says will benefit the country in the future.

Read the excerpt below, and then head to the "GMA" Library to find more good reads.



Thursday, September 4, 2008

Do they know it's coming, Hank?" President Bush asked me. "Mr. President," I said, "we're going to move quickly and take them by surprise. The first sound they'll hear is their heads hitting the floor."

It was Thursday morning, September 4, 2008, and we were in the Oval Office of the White House discussing the fate of Fannie Mae and Freddie Mac, the troubled housing finance giants. For the good of the country, I had proposed that we seize control of the companies, fire their bosses, and prepare to provide up to $100 billion of capital support for each. If we did not act immediately, Fannie and Freddie would, I feared, take down the financial system, and the global economy, with them.



Henry Paulson's book


Amazon.com

Henry Paulson's book "On the Brink."

I'm a straightforward person. I like to be direct with people. But I knew that we had to ambush Fannie and Freddie. We could give them no room to maneuver. We couldn't very well go to Daniel Mudd at Fannie Mae or Richard Syron at Freddie Mac and say:

"Here's our idea for how to save you. Why don't we just take you over and throw you out of your jobs, and do it in a way that protects the taxpayer to the disadvantage of your shareholders?"

The news would leak, and they'd fight. They'd go to their many powerful friends on Capitol Hill or to the courts, and the resulting delays would cause panic in the markets. We'd trigger the very disaster we were trying to avoid.

I had come alone to the White House from an 8:00 a.m. meeting at Treasury with Ben Bernanke, the chairman of the Federal Reserve Board, who shared my concerns, and Jim Lockhart, head of the Federal Housing Finance Agency (FHFA), the main regulator for Fannie and Freddie. Many of our staffers had been up all night -- we had all been putting in 18-hour days during the summer and through the preceding Labor Day holiday weekend -- to hammer out the language and documents that would allow us to make the move. We weren't quite there yet, but it was time to get the president's official approval. We wanted to place Fannie and Freddie into conservatorship over the weekend and make sure that everything was wrapped up before the Asian markets opened Sunday night.

The mood was somber as I laid out our plans to the president and his top advisers, who included White House chief of staff Josh Bolten; deputy chief of staff Joel Kaplan; Ed Lazear, chairman of the Council of Economic Advisers; Keith Hennessey, director of the National Economic Council (NEC); and Jim Nussle, director of the Offi ce of Management and Budget. The night before, Alaska governor Sarah Palin had electrified the Republican National Convention in St. Paul, Minnesota, with her speech accepting the nomination as the party's vice presidential candidate, but there was no mention of that in the Oval Office. St. Paul might as well have been on another planet.

[Crazy Money]

FNMA could get explosive upward movement from dis level...

[Senior Boom]

Blah, blah, blah. You are definitely the comic relief
On this board. Keep it up.

[II ZM II]

All I read was "I am ugly and am small in areas where women do mind it.. That's why I try to let out my frustration on this board because I have nothing better to do."

Lolzzz stop clowning yourself buddy and buy some shares while they're still cheap.

[ProCannabis]

Making billions homie! this is going back to 10 year highs imo. give it a couple years and this will be the turn around stock of the decade! Im loading weekly while we are down in these levels!

FNMA

[VETERANTRADER]

Oops, better cover, quick, before you get a margin call.

[ProCannabis]

$50 pps within two years imo