messages on fnma
Conservator illegally forced FnF to buy $400B junk MBSs from banks after 2008 crash
May be the reason government want to bury FnF so people forget it.
I believe, after 3rd Amendment lawsuit, then C-ship suit, then FnF were forced to buy $400B junk MBS to save banks and economy
I believe, after 3rd Amendment lawsuit, then C-ship suit, then FnF were forced to buy $400B junk MBS to save banks and economy
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Sponsored by Fannie and Freddie to the rescue!
More essential than ever
The Daily Ticker
There has long been talk in Washington of winding down Fannie and Freddie and replacing them with a combination of smaller federal agencies and private firms able to do the same thing with less government involvement. But now, under a new plan rolled out by Mel Watt, the federal regulator who oversees Fannie and Freddie, the two agencies could take on an even more important role in housing. Watt wants them to change their standards in a way that would ease the risks for banks that grant mortgages and allow more potential home buyers to qualify for loans. The plan could make Fannie and Freddie more essential than ever, since no other entity save the Federal Reserve has nearly as much power to juice the housing market.Were the housing market healthy, Watt’s plan might meet stiff resistance from big-government critics and others who feel such a prominent federal role there distorts free-market dynamics. But the stutter-step housing recovery could use a jolt. Home values have been recovering nicely in many areas, but sales remain depressed and homeowners still haven’t recovered all the equity lost during the bust. First-time buyers are particularly scarce, mainly because they have difficulty saving for a down payment and qualifying for a mortgage. The combination of rising home values and rising mortgage rates, meanwhile, has made homes less affordable and pushed them out of reach of many middle-class families.
Watt’s plan is meant to address some of those problems. If Fannie and Freddie ease the standards for mortgages they’re willing to securitize, banks can lend to people with lower credit scores and smaller down payments, with the two housing agencies bearing most of the risk. That happened to an extreme degree in the years leading up to the housing bust, which is why Fannie and Freddie collapsed. But that pushed lending standards to the other extreme, and many bankers today feel lending criteria can be relaxed without Less
The Daily Ticker
There has long been talk in Washington of winding down Fannie and Freddie and replacing them with a combination of smaller federal agencies and private firms able to do the same thing with less government involvement. But now, under a new plan rolled out by Mel Watt, the federal regulator who oversees Fannie and Freddie, the two agencies could take on an even more important role in housing. Watt wants them to change their standards in a way that would ease the risks for banks that grant mortgages and allow more potential home buyers to qualify for loans. The plan could make Fannie and Freddie more essential than ever, since no other entity save the Federal Reserve has nearly as much power to juice the housing market.Were the housing market healthy, Watt’s plan might meet stiff resistance from big-government critics and others who feel such a prominent federal role there distorts free-market dynamics. But the stutter-step housing recovery could use a jolt. Home values have been recovering nicely in many areas, but sales remain depressed and homeowners still haven’t recovered all the equity lost during the bust. First-time buyers are particularly scarce, mainly because they have difficulty saving for a down payment and qualifying for a mortgage. The combination of rising home values and rising mortgage rates, meanwhile, has made homes less affordable and pushed them out of reach of many middle-class families.
Watt’s plan is meant to address some of those problems. If Fannie and Freddie ease the standards for mortgages they’re willing to securitize, banks can lend to people with lower credit scores and smaller down payments, with the two housing agencies bearing most of the risk. That happened to an extreme degree in the years leading up to the housing bust, which is why Fannie and Freddie collapsed. But that pushed lending standards to the other extreme, and many bankers today feel lending criteria can be relaxed without Less
Sentiment: Strong Buy
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Relisting on 19th(?), $10 by 23rd & everybody celebrating memorial day for roaring housing business
That is possible when you see 45M order. Somebody knows something. Something big is cooking up.
Sentiment: Strong Buy
- Once again: no stock under conservatorship may trade on the nyse.
- 4 Replies to achilles_deflandres
- errrr.... FNM and FRE were well traded on NYSE after they were put under conservatorship. Delisting was simply a voluntary decision by FHFA and DeMarco.
- Why did, CITI, B of A, Wells, AIG and almost every other bail out company that was in conservatorship still trade on the big board????????????????????????????
- I remember the issue well. The stock was trading well above the minimum pps when Paulson came out and said that it was going to be removed because it failed to meet the mimimum listing requirements, so why are we still here? In the world of the Big Shorts.. Talk about oppression. Talk about slavery. This issue trascends race. We are all slaves to our government under this plan.. Less
- you are 1000% wrong.
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Hedge funds are sleeping well. by timhoward717 ( 5 MTS AGO)
I want to start by saying the there is not one hedge fund concerned about tomorrows vote. On the contrary, there are many big buyers waiting for tomorrow's votes with the hopes of getting to buy in at a big discount. They know everything I have been sharing here with all of you folks. They knew that even before the 6 key democrats announced they would not vote for this bill it didn't stand a chance. They know that this bill never stood a chance of passing in the republican controlled house. They know exactly what I shared with all of you in my very first entry on January 8th- - "To think such a divided congress will agree on a total reform of home financing, you have not been watching the news.." With that said, I know many the folks following here are anxious about tomorrows vote. The vote will be closed so we will have to wait to get the results. I still expect the bill to pass with around 12 votes. If it passes I expect certain media outlets will instantly pump out headlines like, Bill to end Fannie and Freddie is passed!!! Although I have not heard anything that suggests this, if for some reason, the bill fails to pass our shares will rocket. I hope regardless of what happens tomorrow that we do not witness another massive transfer of shares from the little fish to the big fish. Remember their will be a lot of big buyers lined up for your shares at 930am. So far we have seen one of the best weeks in our history, and there is much more to come. The tide has turned in a big way; I can't wait to get back to dis
cussing the legal side of things, we are about to see some real vindication. Thanks for following here and I hope to see ALL of you tomorrow night, Keep the faith! Less
cussing the legal side of things, we are about to see some real vindication. Thanks for following here and I hope to see ALL of you tomorrow night, Keep the faith! Less
Sentiment: Strong Buy
And more by timhoward717
Although as I predicted, Watt did not overtly address the releasing Fannie and Freddies from conservatorship he did make it perfectly clear that he will not wait forever for congress to act. He made bold moves to set Fannie and Freddie back on track to be around forever. Let's look at a few key points "Watt said that he would scale back a DeMarco-initiated project to create a “common securitization platform” to be used by both companies and later by private securitizers in a future housing-finance system. Watt said the effort will instead focus on developing new technology to be used by Fannie Mae and Freddie Mac to jointly issue mortgage-backed debt rather than separate bonds. This is a huge move as Demarco was forcing Fannie and Freddie to build a platform to be used by future competitors; Watt ended this. Watt also said --“I do not think it is the FHFA’s role to contract the footprint of Fannie and Freddie,” This is an 180 degree pivot from Demarcos policies which were to shrink Fannie and Freddie opening the door for their replacements.Finally, he made it clear that the conservatorship was never meant to be permanent and that if DC fails to pass legislation dealing with Fannie and Freddie he will complete what he started yesterday.
As far as the big vote tomorrow I can only hope the animosity that has overtaken the Committee spills out in
the vote tomorrow The situation understandably is in major flux I will give more updates later. It should be an exciting 24 hours! Keep the Faith! Less
Although as I predicted, Watt did not overtly address the releasing Fannie and Freddies from conservatorship he did make it perfectly clear that he will not wait forever for congress to act. He made bold moves to set Fannie and Freddie back on track to be around forever. Let's look at a few key points "Watt said that he would scale back a DeMarco-initiated project to create a “common securitization platform” to be used by both companies and later by private securitizers in a future housing-finance system. Watt said the effort will instead focus on developing new technology to be used by Fannie Mae and Freddie Mac to jointly issue mortgage-backed debt rather than separate bonds. This is a huge move as Demarco was forcing Fannie and Freddie to build a platform to be used by future competitors; Watt ended this. Watt also said --“I do not think it is the FHFA’s role to contract the footprint of Fannie and Freddie,” This is an 180 degree pivot from Demarcos policies which were to shrink Fannie and Freddie opening the door for their replacements.Finally, he made it clear that the conservatorship was never meant to be permanent and that if DC fails to pass legislation dealing with Fannie and Freddie he will complete what he started yesterday.
As far as the big vote tomorrow I can only hope the animosity that has overtaken the Committee spills out in
the vote tomorrow The situation understandably is in major flux I will give more updates later. It should be an exciting 24 hours! Keep the Faith! Less
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News headlines - Please Google these if you haven't seen these news items yet.
(Please feel free to add other relevant, breaking/recent/documentary headlines and titles. Adding will automatically bump this thread to the top, for reference by all.)
Fannie and Freddie Plaintiffs Eye FDIC Share Sales - TheStreet
Fannie Mae, Freddie Mac: Fairholme Victory Vs Treasury - ValueWalk
Court Grants Fairholme’s Discovery Motion in Fannie, Freddie Suit - Wall Street Journal and other sources
Fannie Mae’s New Chairman Touts “Essential Role” of GSE - ValueWalk
Google this to find an important post about Supreme Court precedent:
Last sentence. "This is the takeaway from the decision - there may be more room now to complain about a condition imposed by a permitting body than before, if the condition is sufficiently draconian that it smacks of extortion instead of regulation."
‘Window closing’ for housing-reform bill this year, mortgage bankers group chief says - Capitol Report
With Fannie and Freddie Debt Repaid to Taxpayers, Will Uncle Sam Turn Shareholders Into Zombie Investors? - Forbes
(Also references a major New York Times article.)
Google News search: Fannie Mae Repaid
(Hundreds of articles come up.) Less
Fannie and Freddie Plaintiffs Eye FDIC Share Sales - TheStreet
Fannie Mae, Freddie Mac: Fairholme Victory Vs Treasury - ValueWalk
Court Grants Fairholme’s Discovery Motion in Fannie, Freddie Suit - Wall Street Journal and other sources
Fannie Mae’s New Chairman Touts “Essential Role” of GSE - ValueWalk
Google this to find an important post about Supreme Court precedent:
Last sentence. "This is the takeaway from the decision - there may be more room now to complain about a condition imposed by a permitting body than before, if the condition is sufficiently draconian that it smacks of extortion instead of regulation."
‘Window closing’ for housing-reform bill this year, mortgage bankers group chief says - Capitol Report
With Fannie and Freddie Debt Repaid to Taxpayers, Will Uncle Sam Turn Shareholders Into Zombie Investors? - Forbes
(Also references a major New York Times article.)
Google News search: Fannie Mae Repaid
(Hundreds of articles come up.) Less
Sentiment: Strong Buy
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