Fannie Mae (FNMA)

Bloomberg grossly misreports on Fannie and Freddie, again! Bloomberg has corrected TODAYS misleading article about FNMA under light of truth! Score one round for the good guys. Bloomberg backs down under light of truth! - Tim Howard Bloomberg has added the following correction to its misleading article from earlier today- “The sales were previously disclosed in a June court filing, which showed that the Fairholme Fund on  March 11  sold 6.8 million Fannie Mae shares and 5.7 million Freddie Mac shares to partnerships run by Carl Icahn.”. I want to thank Hawk_Eye and our other readers for helping to get this blatantly misleading story corrected. Between Barrons pulling their last hatchet job and now this quick correction I would say we are making serious progress.Its amazing what a little truth will do. I also want to inform everyone that we are preparing our first round of FOIA requests, these will be posted on the “Light of truth FOIA campaign set to launch.” post from 8...

Common Shareholders of Fannie and Freddie, Including Pershing Square and Three Individuals, File Suit against United States Government Complaint Challenges the Government’s Ongoing Confiscation of All Fannie and Freddie Profits   Pershing Square Capital Management, L.P. 14 hours ago NEW YORK--(BUSINESS WIRE)-- The complaint challenges the government’s ongoing confiscation of all profits of Fannie Mae and Freddie Mac (the “Companies”). According to the filing, the government is expropriating the Companies’ profits through a 2012 arrangement (the “Net Worth Sweep Agreements”) by which FHFA, purportedly acting as the conservator of the Companies, and Treasury agreed to strip all earnings from both Companies and sweep them to Treasury in cash, every quarter, in perpetuity. These Net Worth Sweeps implement what internal Treasury documents had earlier described as the Administration’s “commitment” to “ensure existing common equity holders will not have acc...

Bill Ackman to Sue U.S. Over Fannie, Freddie Mortgage Profits   By  Dan Freed 6 hours ago NEW YORK ( TheStreet ) --  Fannie Mae   and Freddie Mac   common shareholders led by investor Bill Ackman’s  Pershing Square Capital Management  plan to file on Friday the latest of many  shareholder  lawsuits   against the federal government tied to the profits of the Government Sponsored Enterprises (GSEs), according to a person with knowledge of the suit. Related Stories [$$] Pershing Square Sues U.S. Over Fannie, Freddie   The Wall Street Journal Pershing Square sues U.S. over Fannie Mae, Freddie Mac   Reuters Fannie, Freddie to pay $5.6B dividends to U.S. USA TODAY Shareholder adviser ISS backs Ackman call for Allergan meeting   Reuters U.S. taxpayers to get another big check from Fannie Mae, Freddie Mac   Reuters The suit joins others in contending...

day light robbery FHFA Predicted $72B Profit For Fannie Mae 26 Days After Grab by  timhoward717.com July 31, 2014, 9:22 am FHFA Predicted $72,000,000,000 Profit 26 Days After Brazen Soviet Style Profit Grab by TimHoward717 In light of the news regarding the newly leaked secret treasury documents, I want to share a nice little gem. It’s a report produced on October 26,2012 entitled “FHFA Updates Projections of Potential Draws for Fannie Mae / Federal National Mortgage… FHFA Predicted $72,000,000,000 Profit 26 Days After Brazen Soviet Style Profit Grab by  TimHoward717 In light of the news regarding the newly leaked secret treasury documents, I want to share a nice little gem. It’s a report produced on October 26,2012 entitled “FHFA Updates Projections of Potential Draws for Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC).” I have attached a PDF file below. Keep in mind the Third ...

Fannie and Freddie Investor Blackstone Also Sought Advisory Role   By  Dan Freed July 29, 2014 4:07 PM NEW YORK ( TheStreet ) --  The Blackstone Group  's involvement with Fannie Mae   and Freddie Mac  appears deeper than previously known. Blackstone sought to advise the Treasury Department on what to do with its controlling stake in the two government-sponsored home-loan companies in 2011, according  to pitch documents provided to TheStreet  by a public relations firm representing Investors Unite, a group of Fannie and Freddie shareholders. This information, which hasn't been previously reported, is noteworthy because in April  Blackstone confirmed  reports that it holds  preferred shares  in Fannie and Freddie.  Blackstone spokeswoman Christine Anderson refused to say whether Blackstone owned Fannie and Freddie preferred shares at the time the private equity firm made its June 13, 2011...

Fannie Mae, Freddie Mac And The 187 billion dollar Lie by  timhoward717.com July 28, 2014, 8:18 am Of all the lies regarding Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC), (GSE’s) the most pervasive of all is the 187 billion dollar amount. This figure is incorrectly used over and again when calculating how much of a profit the taxpayers have made off of Fannie and Freddie to date. It is breathtaking how this figure remains fixed in the public consciousness. It is even on the seemingly official  http://projects. propublica.org/bailout/  site. It is repeated by virtually every media source and cited as gospel in every GSE discussion in DC. Let me clarify this for everyone, when the GSE’s were put into conservatorship the terms were that they would have to pay a quarterly dividend to the treasury every quarter based on an annual rate of 10% per year on the aggregate liquidation pref...

Fairholme Win 'Very Positive' For Fannie Shareholders: Bove Jul. 29, 2014 4:30 AM ET    |    7 comments  |    About:   Freddie Mac (FMCC) ,  FNMA ,  Includes:  IYR ,  X HB By Saul Griffith The decision paves the way for a court case on the 'takings' plea by Fairholme Capital against FHFA. Fannie Mae, Freddie Mac vs FHFA: Jurisdiction Last week, Federal Judge Margaret Sweeney  cleared the way  for a court case that will determine whether the government's 'takings' of profits generated by GSEs Fannie Mae / Federal National Mortgage Assctn Fnni Me ( OTCQB:FNMA ) and Freddie Mac / Federal Home Loan Mortgage Corp ( OTCQB:FMCC ), under the stewardship of the FHFA, was illegal and to the detriment of the companies' shareholders. The judge ruled in no uncertain terms in her  Discovery Order  that her court had the authority to consider the merits of the lawsuit. "With respect to the...