stockanalyze
13 minutes ago
does shareholders winning the jury trial (or something else ? ) and the following make a case to unwind? let’s put our brains together and get all the loot back to the companies . i feel there is a way (no more ideas of additional lawsuits please and keep the dysfunctional congress away)
“If any order, injunction or decree is issued by any court of competent jurisdiction that vacates, modifies, amends, conditions, enjoins, stays or otherwise affects the appointment of Conservator as conservator of Seller or otherwise curtails Conservator’s powers as such conservator (except in each case any order converting the conservatorship to a receivership under Section 1367(a) of the FHE Act), Purchaser may by written notice to Conservator and Seller declare this Agreement null and void, whereupon all transfers hereunder (including the issuance of the Senior Preferred Stock and the Warrant and any funding of the Commitment) shall be rescinded and unwound and all obligations of the parties (other than to effectuate such rescission and unwind) shall immediately and automatically terminate.”
https://www.fhfa.gov/sites/default/files/2023-07/FNM-SPSPA_09-07-2008.pdf
zerk_zerk
1 hour ago
Based on the Senate Executive Calendar, it appears that the vote for the Secretary of Laber (Chavez-DeRemer) will happen on Monday 3/10 (calendar item 29). Pulte's hearing is the next item, 30.
So, if I'm reading the Senate Calendar correctly, Pulte's hearing could potentially be on Monday after the Chavez-DeRemer vote, unless other legislation takes precedence. Maybe Tuesday, then? Either way, it seems like next week could be fun.
A second set of eyeballs on this to confirm my interpretation of the Senate Executive Calendar would be nice:
https://www.senate.gov/legislative/LIS/executive_calendar/xcalv.pdf
Whatever the case, I'm hoping the Senate is so tired of all these nominations that they'll blow through Pulte's quickly.
Warren and Co will do their performative bullying and try to make him commit to consulting with them on every decision.
Republicans will do their own performative show of concern with "serious reservations" even though they're really just rubber-stamping Trump.
Then they'll get to the vote and everyone can tell their constituents/donors how hard they fought. Here's hoping the process is short and sweet.
TightCoil
2 hours ago
Bill Pulte's nomination to head FHFA moves forward
https://www.freep.com/story/news/politics/2025/03/06/bill-pulte-fhfa-nomination/81766477007/
snippets:
But [Pulte} said he wanted both to "eliminate waste, fraud and abuse" where he found it, while also looking for ways to bring down soaring housing prices.
and
The committee's top Democrat, Sen. Elizabeth Warren, of Massachusetts, criticized Pulte on Thursday, however, saying he and some other nominees before the committee "failed to provide meaningful answers" to questions she posed, even though Pulte provided the Free Press with several pages of answers he gave to Warren in response to her queries.
and
Among other issues, Warren chided Pulte for failing to promise that he would block any move to privatize Fannie Mae and Freddie Mac, a subject that has been raised before. But Pulte told Warren that while he believes the federal government's conservatorship of the entities "should not be indefinite," he also said any move to change that status "must be carefully planned to ensure the safety and soundness of the housing market without putting upward pressures on mortgage rates." He also said he would work with Congress on any such move.
and
Warren also said she couldn't vote for Pulte because he had failed to provide an explanation for what she claimed were tens of thousands of previous posts that had been deleted from his account on the social media platform X prior to his nomination by Trump. In his response to Warren, Pulte said he had "routinely removed" posts from X, which was previously Twitter, since 2009.
navycmdr
3 hours ago
Mortgage rates fell again this week to another 2025 low
Mounting economic uncertainty helped push rates down to 6.63%.
Thu, March 6, 2025
Homebuyers are getting more relief from high mortgage rates, but not for reasons anyone would hope for.
The average 30-year mortgage rate fell to 6.63% for the week through Wednesday, from 6.76% a week earlier, according to Freddie Mac data. The latest drop came after President Donald Trump implemented sweeping tariffs on goods imported from Canada, Mexico, and China and markets digested a string of downbeat economic data that sparked a selloff and raised new fears about a possible recession in the US.
15-year mortgage rates also dropped to 5.79%, from 5.94%.
Despite the economic uncertainty, lower rates over the last week spurred a spike in mortgage applications for home purchases and refinancings. Refinancing applications rose 37% through Friday, compared with a week earlier, according to the Mortgage Bankers Association, while purchase applications were up 9%.
“The decline in rates increases prospective homebuyers’ purchasing power and should provide a strong incentive to make a move,” Sam Khater, Freddie Mac’s chief economist, said in a statement.
Mortgage rates move largely based on expectations about future Federal Reserve interest rate policy. After tariffs took effect on Tuesday following several weaker-than-expected economic reports, traders began fretting about a potential recession and pricing in additional rate cuts later this year.
The Fed last lowered rates in late 2024 amid signs of cooling inflation, but tariffs could complicate the path to the next cut. Tariffs can push up prices while also discouraging consumer spending, a recipe for stagflation.
navycmdr
3 hours ago
Freddie Mac reports dip in 30-year mortgage rates
Published 03/06/2025, 12:05 PM
MCLEAN, Va. - Mortgage buyer Freddie Mac, a prominent player in the Financial Services industry with a market capitalization of $17.14 billion, announced on Thursday that the 30-year fixed-rate mortgage (FRM) has experienced a significant weekly decline, averaging 6.63%, as the spring homebuying season commences. According to InvestingPro data, the company has demonstrated strong financial health with annual revenue reaching $23.44 billion. This marks the most substantial drop since mid-September, potentially enhancing the purchasing power for prospective homebuyers and offering current homeowners refinancing opportunities.
According to the Primary Mortgage Market Survey® (PMMS®), the 30-year FRM average fell from 6.76% the previous week. In comparison, the rate stood at 6.88% one year prior. The 15-year FRM also saw a decrease, averaging 5.79%, down from last week’s 5.94% and last year’s 6.22%.
This reduction in mortgage rates arrives at a strategic time, potentially stimulating the housing market by encouraging home purchases and refinancing. The refinance share of mortgage applications has reached nearly 44%, hitting its highest point since mid-December. InvestingPro analysis shows Freddie Mac’s impressive market performance, with a year-to-date return of 68.12% and a remarkable one-year return of 399.09%. For deeper insights into Freddie Mac’s financial metrics and future outlook, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
Freddie Mac’s survey focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit who make a 20% down payment. The organization’s longstanding mission has been to maintain liquidity, stability, and affordability in the housing market, assisting families with home purchases, rentals, and retention since 1970. With an overall Financial Health Score rated as "GOOD" by InvestingPro, the company continues to demonstrate strong market presence and operational efficiency.
The reported data is based on a press release statement from Freddie Mac, providing insights into current mortgage trends as of March 6, 2025.
In other recent news, Freddie Mac reported a strong financial performance for the fourth quarter of 2024, with net income reaching $11.9 billion, marking a 13% increase year-over-year. The company’s net revenues also grew by 13%, totaling $23.9 billion, while its mortgage portfolio expanded to $3.6 trillion, a 3% increase from the previous year. These results reflect Freddie Mac’s strategic focus on affordable housing, with 53% of home loans directed towards low and moderate-income families. Additionally, Freddie Mac’s net worth increased by 25% to $59.6 billion, underscoring its strengthening position in the housing finance market. The company’s efforts in packaging mortgage-backed securities reached $411 billion, an 18% increase year-over-year, highlighting its innovative approach. Furthermore, Freddie Mac’s multifamily business reported a 67% increase in net income, driven by higher net revenues and lower provision for credit losses. Despite economic challenges, Freddie Mac continues to emphasize its role in providing liquidity and stability to the housing market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Red Cloud
3 hours ago
The "Spite Factor"....
Lots of great reasons to Release and Re-List Fannie and Freddie, but one just occurred to me which we have not yet discussed: The Spite Factor.
Yes, President Trump will Release, Re-List and Repay GSE shareholders in a manner that will guarantee that Billionaires will make $Billions ( and we will all be rewarded handsomely ) in order to spite everyone who doesn't want him to do it. President Trump will privatize Fannie and Freddie because his most vocal enemies and detractors don't want him to, he's going to show them he can, he doesn't give a shit what they think, and they can't stop him no matter what.
First among them our favorite Senator from Massachusetts.
Thanks Pocahontas, for helping us all get rich!
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