Fannie Mae (QB) (FNMAO) News

Yes - you would think that Thompson would be raising a stink but perhaps the Plaintiffs are waiting for the new Sheriff at the DOJ to come up with a GSE litigation strategy going forward. I know you are a Never Settlement Guy, but I am thinking there may be some method in the madness of the delay to come up with an overall JPS Settlement that includes the Lamberth decision.

more like 99%

50% that is generous. I think they could cut out 75-80% and they’d be fine.

90% of journalism is dead or soon will be in the uSA and all by design. Soon it will be almost all AI generated

That "agency" could lose 50% of its head count and still be hugely overstaffed. It does very little that's original or creative--despie gaudy titles and salaries--and merely repackages and publishes what Fannie and Freddie report to it.
Go ahead DOGE, cut out most of that unneeded middle man and save Fannie the two companies wasted time and money, beyond the necessary.

@SemperFi ... remember we are talking about journalists here ... one of the problems with our saga, which I've stated repeatedly, is every aspect of this issue has always been too complex for the general public at large, and even for journalists who supposedly specialize in the related fields: mortgages, stocks, financial markets etc. And it is ripe for OTC manipulators to use the ignorance of both to whiplash this stock repeatedly.

However, it is somewhat forgivable in this case as many with a lot of financial experience, even experts, will often use the term "pink sheets" as an off-hand short hand name for stocks that trade in the over-the-counter markets. Even "pink sheet" stocks no longer trade on pink paper, they trade electronically in the OTC markets electronic system. OTC Markets Group "regulates" the OTC markets which is an electronic system with "pink sheet" stocks being a segment of that system. The "pink sheet" portion of the OTC includes stocks that MAY NOT have regular financial report filing or SEC filing requirements. The part of the system (and thus "market") that FnF trade on is the OTCQB. So FnF, as you say, are definitely NOT, strictly speaking "pink sheet" stocks.

Best’s Special Report: AM Best Updates Net Capital Charge Tables Associated

with Fannie-Freddie Mortgage Risk Transfers

February 18, 2025 08:35 AM Eastern Standard Time

https://www.businesswire.com/news/home/20250218030784/en/Best%E2%80%99s-Special-Report-AM-Best-Updates-Net-Capital-Charge-Tables-Associated-With-Fannie-Freddie-Mortgage-Risk-Transfers

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has released newly updated tables of net capital charges associated with a representative sample of transactions from Fannie Mae and Freddie Mac’s credit risk transfer (CRT) programs—Freddie Mac’s Agency Credit Insurance Structure (ACIS) and Fannie Mae’s Credit Insurance Risk Transfer (CIRT). These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.

“Updated Net Capital Charge Tables for ACIS/CIRT Reinsurance Transactions”
Post this

The net capital charge of CRT transactions is based on unexpected losses and premiums associated with the transactions and is represented as a fraction of the original exposures. For this Best’s Special Report, “Updated Net Capital Charge Tables for ACIS/CIRT Reinsurance Transactions,” AM Best has selected a broad sample of the 177 CRT transactions effective through December 2024 to calculate the net capital charges associated with individual layers of the CRT transactions.

AM Best publishes these net capital charge tables semi-annually, using the most current performance data available from the government-sponsored enterprises’ websites. Future publications of the net capital charges will be dependent on the continued timely availability of data from Fannie Mae and Freddie Mac, among other factors.

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=351355.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Contacts

Wai Tang, Ph.D.
Senior Director,
Insurance-Linked Securities
+1 908 882 2388
wai.tang@ambest.com

David Mautone
Senior Quantitative Specialist,
Insurance-Linked Securities
+1 908 882 2098
david.mautone@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Trying to push higher, FNMA will end the day north of 7.32. ^^^^^

Pink sheet stocks are stocks that trade on the over-the-counter (OTC) market, instead of on a major stock exchange like the New York Stock Exchange (NYSE) or Nasdaq. They are also known as OTC stocks.

Why the gap is widening between FNMA $7.3 and FMCC $6.5?

It's amazing that the plaintiff's legal team is not in an uproar, but not at ALL amazing that he hasn't otherwise. If you know where and how many of his cases have been adjudicated in the past several years, this comes as no surprise.

Wow good bye FHFA.  It was nice to meet you.

it is not if they get to keep the cash. It is the Cash the GSEs have to keep on hand. Basically, they will have a huge pile of cash to use if there is another housing crisis.

This begs another question, which is if the GSEs have a huge pile of cash on hand, why is it necessary for there to be G-Fees on mortgages paid directly to the US Treasury? Essentially, the GSEs will have huge pile of cash and there will be continued government insurance policy backing them up. How can these two companies ever go under?

The point I keep hammering is there is no need for a conservatorship with this kind of protective barrier around the GSEs.

It's pathetic that someone claiming to know anything about this saga doesn't even know which exchange we are on. We are not now nor have we ever been a Pink sheets stock.

You must be hanging with Mike Tyson licking toads 🐸!! Lol 😆

I 100% agree if they allow Fannie to keep all its Cash-OOO-Laa then Fannie doesn't need any capital infusion.

ackman needs to shut up about the warrants and give trump a nice big box of chocolates with alllot of Fannie Mae stock inside of that box.

Traders are back from lunch. It’s time to rock n roll!!!

$Boooooom ! - Inside Mortgage Finance News ! today !

Will the Trump budget slashing axe spare the Federal Housing Finance Agency,

which oversees Fannie Mae and Freddie Mac ?

Apparently not, we’re told.

The FHFA, though, is not supported by taxpayer money…

At press time, Fannie’s common was trading on the “pink sheets” for $7.20 a unit

while Freddie’s was going for $6.44. Not bad for two companies that have been in

government conservatorships since the fall of 2008 and earning billions of dollars

a year since 2012.

Short Takes: A New CFPB Tip Line for Violators
A Confirmation From the New Director
Job Cuts Blocked…
For Now / FHFA RIFs? / GSE Stock Gains

February 18, 2025 - Shannon Clark, Namrata Bhatia, and Paul Muolo

The Consumer Financial Protection Bureau recently set up an X account entitled “CFPB Tip Line” that allows commenters to report on bureau enforcement or supervision staff who are “in violation of Acting Director Russ Vought’s stand down order.” The order serves, you might say, as a government holiday from Uncle Sam taking action against companies that might be doing something unscrupulous…

Acting Director Vought confirmed the X notice was legit on Feb. 13, the day before Valentine’s Day…

IN CASE YOU MISSED IT: U.S. District Judge Amy Berman Jackson signed an order last week restricting the Trump administration from cutting staff and funding and deleting data at the CFPB. The order is tied to two lawsuits filed by the National Treasury Employees Union, a group that represents CFPB employees, against Vought's actions.

Will the Trump budget slashing axe spare the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac? Apparently not, we’re told. The FHFA, though, is not supported by taxpayer money…

At press time, Fannie’s common was trading on the “pink sheets” for $7.20 a unit while Freddie’s was going for $6.44. Not bad for two companies that have been in government conservatorships since the fall of 2008 and earning billions of dollars a year since 2012.

I'm holding till $400 pps and I will keep the other half for the dividends.

$7.30

All contracts should not be based on DEI but highest and best bidder to lower mortgage costs. HUD, FHFA, FNMA and FMCC have awarded DEI contracts which increase the cost of home ownership.

Hi Donotunderstand,

The only thing Fannie owes the Treasury and FHFA is a kick in the ass. 🥴
Do not shoot the messenger ---- this $208 B is viewed by the TREASURY as due to them and as such subtracted from the CASH reserves F and F could keep
The messenger is wrong.
Treasury holds SPS. Dividends on these shares are suspended until Fannie complies with legal and regulatory capital requirements. LP of SPS grows with every dollar the company retains as earnings. That's all. Nothing subtracted, nothing due.

"No, FNMA did not "lower underwriting standards to be competitive". Instead, TBTF banks lowered theirs, then sold these toxic loans to Fannie, lying about the quality of loans to get Fannie to buy them. Those of us who follow Fannie know that several of the banks admitted to lying about toxic loans sold to Fannie, but were penalized "pennies on the dollar" for the losses, so banks can go back and do the same thing again. Banks paid billions in fines, but it was peanuts to the losses to Fannie and Freddie's massive loan losses on these toxic loans. They called them "toxic" for a reason."

PRECISELY!!!!!!! Those lender bundles were like buying a car with 50,000 miles to later find out the odometer had been around three times; then the car dealer wanting to refund you for a car with 350,000 miles.

you can click the three dots next to post #...and hit ignore to ignore Donotunderstand. I had to do it because I was getting spammed with nonsense as well

For Fannie Mae (and the additional 4 billion + shares) that would be $31 billion versus $4 million.

I agree 100% on the mortgages that F and F bought for their MBS paper --- their core business - their standards and processes were good. (Even if they did get hit by outright lies by TBTF banks)

As I recall, F and F at the same time, held a bunch of their "reserves" in TBTF crap paper to gain the higher interest (and they were rated AAA)

So that reserve - paper from other sources not F and F -0 got hit bad because the TBTF paper was crap and thus indirectly - ON PAPER in their Balance Sheet - F and F took a hit

I suggest the hit was not large enough to GRAB us - and that the GOV like it did for FDIC and every MM out there - could have dealt with the fear by the Chinese and Russian owners of F and F MBS paper by saying - it is guaranteed - done - over in 12 months

fair enough

Maybe, though, you can try reading it as lyrics to a song? You pick the song

sorry

If they have shares and it goes to 30 cents then YES, they have 30 cent shares.

Boom Zoom to the Moon🚀🚀🚀🚀

The loss ratio on F and F MBS paper is low and lower and could not be such if they had low standards for black and brown and women

Just defies the huge profit they have made over and over

Re staffing - you could reduce staffing to zero and IMO it has no direct impact on PPS as the PPS is 99% burdened by 200B of Obligation per Treasury. Again - I think Treasury can - on its own - decide and declare that 200B paid --- against 300B sent to them. But if the GOV/TREASURY announced that the LP/SP is zero we would triple in PPS over night and if all the DEI stuff in paper and people was zeroed out - the PPS would not increase as Wall Street is not conned.

but as I just posted - Treasury believes - so far - that everything paid to them is a dividend and their investment and LP are still obligations

Do not shoot the messenger as I am long precisely because I think that obligation is in the control of Treasury - they can and will call it zero - and then the reserves F and F report are REAL

Under the terms governing the senior preferred stock, no dividends were payable to Treasury for the third quarter of 2024 and none are payable for the fourth quarter of 2024.
Under the terms governing the senior preferred stock, through and including the capital reserve end date, any increase in our net worth during a fiscal quarter results in an increase of the same amount in the aggregate liquidation preference of the senior preferred stock in the following quarter. The capital reserve end date is defined as the last day of the second consecutive fiscal quarter during which we have had and maintained capital equal to, or in excess of, all of the capital requirements and buffers under the enterprise regulatory capital framework.


As a result of these terms governing the senior preferred stock, the aggregate liquidation preference of the senior preferred stock increased to $208.0 billion as of September 30, 2024 from $203.5 billion as of June 30, 2024, due to the $4.5 billion increase in our net worth in the second quarter of 2024. The aggregate liquidation preference of the senior
preferred stock will further increase to $212.0 billion as of December 31, 2024, due to the $4.0 billion increase in our net worth in the third quarter of 2024. See “Business—Conservatorship and Treasury Agreements—Treasury Agreements” in our 2023 Form 10-K for more information on the terms of our senior preferred stock, including how the aggregate liquidation preference is determined

Do not shoot the messenger ---- this $208 B is viewed by the TREASURY as due to them and as such subtracted from the CASH reserves F and F could keep
https://www.fanniemae.com/about-us/investor-relations/quarterly-and-annual-results

Not what I read and posted -

The Treasury says F and F owe Treasury 200B

Foolish thinking but Okay!! You think the Govt will be associated with that??

That's all good. I'm getting out at $70 next year so it can fall for the govt when they go to sell their shares they got for 0.0000000000001 cent.

Looks like a new cast of characters!! The ooh ahh guy and the Fannie shares canceled guy is gone!! See you guys at 35 a share in a year or two!!

USA Today, said:
Before the financial crisis, Fannie and Freddie were private companies. As the subprime bubble inflated in the early 2000s, they lowered their underwriting standards to remain competitive. When the bubble burst in 2008, the two enterprises were rushed into government-controlled conservatorship.
End of USA Today quote.
My response:

No, FNMA did not "lower underwriting standards to be competitive". Instead, TBTF banks lowered theirs, then sold these toxic loans to Fannie, lying about the quality of loans to get Fannie to buy them. Those of us who follow Fannie know that several of the banks admitted to lying about toxic loans sold to Fannie, but were penalized "pennies on the dollar" for the losses, so banks can go back and do the same thing again. Banks paid billions in fines, but it was peanuts to the losses to Fannie and Freddie's massive loan losses on these toxic loans. They called them "toxic" for a reason.

Merit based seems very subjective so far.

https://www.barrons.com/articles/housing-market-home-buyer-mortgage-rates-5eb62e26?siteid=yhoof2

That's exactly the basis for my upcoming lawsuit, should the warrants be exercised or sold to John Paulson and Bill Ackman. The funny thing is in the warrant agreements it's the definition of "fair value".

They know they effed up lol and the beauty of it all is that the exersize price can not change.

In Ohio it's damn cold today as well. I don't mind visiting Fla or Ca. I just would not own a home in either. If did not have an indoor greenhouse that needed daily tending I would be somewhere warm right now. Fortunately I can hibernate almost as long as I want in my nice big warm house. My greenhouse has a bit of a tropical vibe which helps especially on gray weather days. I have been spending every other winter for 6 months at a time the past 15 years in the Tropics. Thailand, Philippines, Goa, Belize, and Vietnam so far. The Philippines several times as it's been the best and they still love us and don't see that changing.

I posted a link straight from the horse's mouth. The other person quoted the horse's behind. Choose your source.

You will get a response to your question only if you write in proper English and use correct grammar.

No more of this

? --- incomplete sentence nonsense.

""It's the average closing price for the prior 20 trading days."

Memory is very foggy now. Don't I recall share price of Fannie the day before conservatorship being about $7.08? The preceding 19 days I would expect a similar price. That's astronomically different than the 100,000 shares for $1 BS they can up with for exercising the collateral (oops....warrants)."

Guido, I didn't have time when I replied to your message but the 20 day average price of Fannie Mae was $6.80. not the $0.00001 that was written.

Don't Fold
Hold for The Gold

DEI contracting for FNMA, FMCC, FHFA and HUD will be the DOGE Focus. The DOJ believes everything should be Merit based and there is probably substantial savings from cutting out DEI middlemen who have been subcontracting business for decades. This is a real opportunity to lower cost to all homeowners including minority homeowners and potentially use the savings to provide more programs that actually help all people. Some of the DEI based entities involved with the housing and mortgage sectors have built empires off of preferential contracts for decades.

What the hell happened to that YouTube video that was going to send us to double digits a couple of days ago? Hmm, just like old times.

https://www.usatoday.com/story/money/personalfinance/real-estate/2025/02/16/fannie-freddie-release-discrimination-mortgages/78383503007/


Published 17 minutes ago in USA Today !

LOL! It was like hiring a personal injury (neck collar) lawyer to sue a trucking company whose truck ran over you and broke half the boners in your body. The lawyer (government) wins the suit at $3 million and keeps all the money! Then the bar association (conservator) would not go after one of their own who was a crook. Go figure?

You obviously do not understand since the negative on the reserve is in reality the what is left of the capital threshold they have to get to. It does not indicate a negative cash actually on hand...

The 200B has already been paid....and that might even be deemed to what essentially amounts to an overpayment.