Fannie Mae (QB) (FNMAO) News

Senator Padilla is right. The unsophisticated judiciary is a big problem.
No matter how you dress it up. Dividend payments are never interest payments, if this is what they are after, after overruling Chevron.

We saw the example of justice Alito, not only talking about "dividend obligation" in order to turn a dividend payment (Changes in Equity on the Balance Sheet. I.e., a distribution of Earnings -CET1-. Restricted.) into interest payment (An expense on the Income Statement. Without restrictions) like the FHFA, the litigants and the FnF management (all of them in court too), evidence that he was egged on, but also outlining what he wanted the endgame to become, and not the reality of the written text and basic financial concepts.
For instance, with the "beneficial to the FHFA", thinking of monetary benefit, when the written text states "in the best interests of the FHFA". The interests in a regulatory agency, with respect to the regulated entities it oversees, are never monetary.
This is why the "blame DeMarco", that started in the Lamberth trials, was defused in time. DeMarco is the one that legalized their actions. The plotters want the judge to legalize them instead, with their twists.

I bet that Justice Alito still doesn't understand that, either on purpose or inadvertenly, he was talking about the Separate Account plan, 1989 FHLBanks-style, which is what really is "rehabilitating FnF" that he pointed out, and upholding all the statutory provisions and basic Finance.

He authorized also keeping the funds owed to FnF for the Making Home Afforfable program, and the use of FnF for Public policies like nowadays (loan sales to minority- and women-owned businesses, etc.)

Finally, the "for cause" removal restriction is constitutional when the FHFA has very limited powers (mentioned by the SCOTUS-appointed amicus, prof. Nielson, representing the FHFA in the Collins case), both as conservator and as regulator, in congressionally-chartered private corporations and with the FHEFSSA that evaluates the financial condition. For that, first he has to acknowledge that the Charter Act exists.
Justice Alito declared it "unconstitutional", so that now Tim Pagliara, the Conspirator in Chief, can claim that it's the President the one in charge of the resolution of Fanniegate, a President in need of public recognition.
It's Congress for the Privatized Housing Finance System revamp chosen in 2011 for the release, jointly with the FHFA and the UST after coming clean about the Separate Account plan, including the refund of the unlawful Credit Enhancement operations, other than the PMI and the Commingled securities (Credit Enhancement clause. Charter Act).
Let alone a refund of the PLMBS lawsuit settlement, net of attorney's fees.

We stand with DeMarco.
UNSOPHISTICATED JUDICIARY
-Chevron deference attempted to legalize unlawful actions, notwithstanding that it's DeMarco who legalized them all.
-Now, no deference,in order to peddle the *blame DeMarco"(abusive conservator)for the h-funds' battered JPS' Implied Contract.#Fanniegate pic.twitter.com/NXvl5QKXxL— Conservatives against Trump (@CarlosVignote) June 29, 2024

Indeed. "Barron = Rodney" plus other 50 aliases.
Judge Lamberth and judge Sweeney called him "pro se". I call him Mr. Pro Se.
The management should have stored my JPS dividend, he claimed in court.
Clueless.
He thinks that, by filing frivolous lawsuits, he can negotiate a better deal for the battered JPS. This is why he's been filing new lawsuits every time one got dismissed. 4 in total.

Just like the attorney for Berkowitz, the almighty David Thompson, seizing control of other 4 cases (Bhatti, Rop, Collins, Robinson) and, since last week, another one was added with Wazee.

The fate of the JPS is already written. It's called fair value chart under the Separate Account plan, which is a normal Conservatorship carried out secretly, precisely, to allow the JPS holders to negotiate with their frivolous lawsuits.
(*)Chart assessed with a 6% discount rate.


Nowadays, stuck at their par value valuation with this overtime in the conservatorship (Freddie Mac JPS since one year earlier), thanks to the Incidental Power of the conservator, presumably because it wants to get rid of the AT1 Capital instruments (JPS) before the announcement by the Congress of a Privatized Housing Finance System revamp, chosen for the release in 2011 by the UST, at the request of the Dodd-Frank law.
Which is what it already did with the FHLBanks in 2016: "Membership cleansing".


That scenario is only possible with CET1 > 2.5% of Adjusted Total Assets.
Currently, after the redemption of the JPS, FnF could even resume the dividend payments with more than the minimum threshold of 25% of their Prescribed Capital Buffer (Table 8: Payout ratio).
Capital Buffer: amount above the minimum threshold Tier 1 Capital > 2.5% of ATA.

Why would the buying from Friday continue?

Well ! One possible answer is that July 1 is the last day of bond debt securities to trade on NYSE.
This means that bond investors will have to sell at the lost.
My point is simple.
Will they sell bond at the lost to buy fmcc and fnma and including all preferred shares?

Here is the information I copied
"US Banks Dumping Exposure To $2,500,000,000,000 Market Before ‘Inevitable Losses’ Hammer Balance Sheets" starting Monday.

Let's face it . . . he had no clue of what to do when he got the job. I've never seen an academic, thrown into a real world job, that could pour piss out of a boot and Calabria was no exception.

I think the buying from friday continues — that debate was an awakening of animal spirits of buying we saw friday. Hard to imagine that buying spirit fading out of sight for very long

catman was the architect of hera
catman hid stress test
catman put in absurd capital levels
catman lied to everyone that he was working on releasing them
catman lied that conservatorship will end in 2024 despite knowing of his absurd capital levels and putting that letter agreement in place before he left with every penny still owed to treasury.

and catman learnt it from his cat.

Correct. Only the "removal clause" was unconstitutional. The rest of HERA remains intact.

Barron is wrong.

My response to my State Senator:
You think it's OK for a federal agency to keep 2 of the most profitable corporations in a "temporary" conservatorship since 2008 and swindle $301 billion of their equity?

If US is not a🍌 REPUBLIC...
DISSOLVE @FHFA !
FREE FANNIE!
FREE FREDDIE!— Guido da Costa Pereira (@GuidoPerei) June 30, 2024

"Come on man! How do you think Mark Calabria got his job when he did?"

My guess would have been he spent a lot of time under Pence's desk.

I don't think that happened so it can't be cited but I sure could site it as undesirable for shareholders!!! lol

It's happening so much so that it's bordering on monopoly. They say there are not enough single family homes and more need to be built. I recently say two new developments come available - 89 houses and 376 houses. In each case a large investor came in and bought every house for cash, above market level. This allowed for ZERO homes available for non billionaires to purchase. Every single home became a rental. This is a monopoly and monopolies are illegal.

Come on man! How do you think Mark Calabria got his job when he did? The Supreme Court found the “for cause” requirement for the POTUS to remove the FHFA Director unconstitutional. The Supremes used a scalpel to remove that clause and keep the rest of HERA instead of a bulldozer to get rid of HERA. That enabled Trump to can Mel Watt and install Mark Calabria the cat man. I think that was a lousy decision. They should have nullified all the decisions done up to that point by unconstitutional single directors and sent HERA back to the drawing board at Congress. Congress should have required an independent commission be created and appointed conservator of a GSE. Imagine if the Commission had to vote on accepting Treasury’s corrupt terms and conditions for its purchase agreements? It would be like just about every other independent agency and would only have needed to be independent when acting as a Conservator.

Wow how lost can you be?

Whatever you’re smoking

Can we have some?

lol

Price per share will not get anywhere close to pre conservatorship prices while still in conservatorship

Aka govt prison

No one trusts the government
No one

Come on man! How do you think Mark Calabria got his job when he did? The Supreme Court found the “for cause” requirement for the POTUS to remove the FHFA Director unconstitutional. The Supremes used a scalpel to remove that clause and keep the rest of HERA instead of a bulldozer to get rid of HERA. That enabled Trump to can Mel Watt and install Mark Calabria the cat man. I think that was a lousy decision. They should have nullified all the decisions done up to that point by unconstitutional single directors and sent HERA back to the drawing board at Congress. Congress should have required an independent commission be created and appointed conservator of a GSE. Imagine if the Commission had to vote on accepting Treasury’s corrupt terms and conditions for its purchase agreements? It would be like just about every other independent agency and would only have needed to be independent when acting as a Conservator.

SCOTUS held that the restriction on the President’s power to remove the FHFA Director at 12 USC 4512(b)(2)—commonly referred to as the Removal Clause—violated the constitution. SCOTUS simply severed that offending clause, and let the remainder of HERA stand. So the rest of HERA remains valid law.

See Collins v Yellen pp. 17-36.

https://www.supremecourt.gov/opinions/20pdf/19-422_k537.pdf

Would like to see this recentl price action post debate continue

Being is conservatorship doesn't necessarily preclude us from being re-listed,
and see Fan and Fred pps' get back up into pre-conservatorship prices.

this is now permanent conservatorship.. seen too many of these charts, don't work. they can take it down back to $0.40 , this is otc jungle with lots of manipulation. sad.

"HERA was challenged and found to be unconstitutional." that is the first i have heard of. can you cite it?

not a lawyer but chevron case seems important for fannie mae, not exactly sure how

do you even understand? blackstone is buying properties by bidding higher and higher and bumping up rents than individuals buying them.

Yes , I meant to say unconstitutional

I have no idea how this post offended Carlos and his boyfriend ...
I think you mean "unconstitutional," if so, I agree whole-heartedly.

The headline is misleading, it only applies for homes that owe the gov for the unpaid property taxes…

Don’t worry, the taxes never disappear. Lol
Fnma

I think you mean "unconstitutional," if so, I agree whole-heartedly.

Property tax is unconditional.
More and more states are planning to abolish property tax.

https://www.reuters.com/legal/us-supreme-court-curbs-states-property-tax-windfall-2023-05-25/



https://www.governing.com/finance/some-states-are-looking-to-abolish-property-taxes-entirely

I think there are two concepts at play here that get commingled. First the social safety-net programs that the US has enacted over the years within a framework of a regulated almost free-market capitalism of a constitutional Republic nation. I don’t think most Americans have a problem with safety nets. They speak to the morality of a people willing to provide for the neediest among us. And are generally good government. These programs are the product of both political parties throughout our history. What many people fear is a transformation of our form of Government to some form of authoritarian regime using the tactics of Marxism to bring us “socialism” through the equitable redistribution of wealth from a formerly sovereign people to an authoritative state. Call it what you want. Socialism, communism, fascism. The result is the same for a formerly mostly free society and has been repeated across the globe and throughout time. Always appealing to the sense of victimhood of the masses with equity for all sold through the virtues of “socialism”.

Guido its ok to disagree. But I feel you commented with your disagreement too early. This post (Post #796755) clearly addressed your reasonings. It was not HERA that caused the problems with fanniegate. If the plain language of HERA was actually followed, the GSEs would be trading as private companies now. It was the corrupt actions of Treasury in their corrupt terms and conditions of their purchase agreement that violates other foundational statutes that are responsible for all the things you stated. The corrupt bureaucrats love nothing better than to have the victims blame the wrong entity for their vial actions. We must focus our resolve on the actual perpetrators of the crimes. Obfuscation and misdirection wrapped in misinformation is the weapons they have used since the beginning. The SPSPA and Treasury’s role in it must be the focus of shareholders to fix this.

$FNMA
$FNMA Strong move this week puts this chart back in the spotlight..get above the 50 day MA and this could hit a new gear.. pic.twitter.com/vKVSrUPTpc— Chris from Massachusetts AKA TommyboyTrader (@autumnsdad1) June 29, 2024

so you want the GOV - State? Federal ? intervening in a free market ?

I hate what is going on in terms of helping renters - but if the big guys buy them up to rent them out by the week - is that not free market finding the GREATES VALUE which finds the greatest capital for select investments

So so so many hear declare SOCIALISM when a D idea is thought of or presented but is this not evil SOCIALISM with the GOV taking action because some part of the market wants it?

Now - if these companies are monopolies and acting as such that may be a reason and way to have Federal intervention in private markets
But why do so many people yell socialism when there is a program to help low wage people but want GOV to intervene when Big companies drive up costs for middle and upper income
Socialism is Socialism

if --- if - decisions against us were based on the CHEVERON doctrine in the past - then they can go again with a new effort to have SCOTUS look at a case

my memory is SCOTUS did not use CHEVRON to beat us up -- it found other ways

Mark had no problem withholding stress tests either.

As a former regulator, I never once had to rely on Chevron, it’s actually not that hard to read the statutes and just simply follow the law— Mark Calabria (@MarkCalabria) June 28, 2024

They're still stuck in that time period, praying for hopium.

Navy posted the update but it doesn’t get stickied. I guess the master moderator thinks it’s too political.

Chevron deference is no where to be seen.
What happens is that, instead, a group of scammers are colluding with the Federal Agencies aiming for the sacking of FnF and the assault on the ownership (Common Stock), under the premise that the FHFA can do whatever it wants.
Very different.

The use the judiciary for the conspiracy, because they are unsophisticated lawyers that ignore that a dividend payment is a distribution of Earnings, not interest payments; The definition of capital distribution, even if it's written in the statute FHEFSSA, they just have to peddle that the law is HERA and not the FHEFSSA, so no one can read the definitions:

-"Beneficial to the FHFA", instead of "in the best interests of the FHFA" in order to transmit the idea that the FHFA can take the capital away in Critically Undercapitalized enterprises for its own monetary benefit;

-Omission of requirement that the actions must be "authorized by this section". For that, you have to learn that "put (restore) in a sound condition" is about building capital, and that would be the Retained Earnings account (CET1).

-Cover-up of the Restriction on Capital Distributions; Exceptions: reduce the SPS and, later on, recapitalization outside their balance sheets or, nowadays, CET1 held in escrow (concealed on their balance sheets, with gifted SPS/offset missing)

-Omission that the rehabilitation of a financial company (FHFA-C's Rehab power) is about their financial condition as seen on their Balance Sheets, currently with a whopping $402B core capital shortfall over minimum Leverage capital level, but a CET1 = 2.8% of ATA under the Separate Account plan, enabling the redemption of JPS.

-SPS LP increased for free and its offset, absent from the Balance Sheets (Financial Statement fraud).

-Etc.

DeMarco was the fix-it man that enabled the regulatory framework that made all their actions lawful, so they could continue to peddle their big lies in court and on social media (a Common Equity Sweep carried out by 3 White House administrations. It's illusion because it doesn't exist in reality).
DeMarco understood it right.


With "deference to a Federal Agency", the plotters wanted the courts to twist the law and legalize the unlawful actions, notwithstanding that they are already lawful thanks to DeMarco and the Separate Account plan, and, since yesterday's Supreme Court opinion overruling Chevron, with the "no deference", now they will seek to peddle the idea of "abusive cosservator" that exceeded its powers, for the "blame DeMarco doctrine".
A #SCOTUS decision re #Chevron that establishes deference for administrative action, can't be used in #Fanniegate for the "Blame DeMarco doctrine".
He deliberately enacted the supplemental CFR1237.12,enabling a follow-on Separate Acct plan.#Trump built on it: Gifted SPS(NWS 2.0) https://t.co/9N0M7imwTP— Conservatives against Trump (@CarlosVignote) June 26, 2024

Thank goodness that this attack with the "blame DeMarco doctrine", which is what entire trial in the Lamberth court was about for the fiction of "breach of Implied Contract", was defused before it happens.

If you don't know where "best interests of FHFA" is located, that starts with "actions authorized by this section", you'd better leave the board.
This was omitted by judge Sweeney (CFC), a former DOJ employee, so she read "take any action in the best interests of FHFA", to conclude "the FHFA is the government".
Judge Willett and justice Alito came to the rescue: "any action within the enumerated powers" and the latter, specified "rehabilitate FnF" (its power: Put FnF in a sound and solvent condition), that is, build capital and reduce debentures (ability to pay off debentures) which is perfect to reduce the taxpayer's assistance asap.
Justice Alito added "in a way..." which is suitable for the Separate Account plan. He simply added on his own "beneficial to the FHFA" to play the hedge funds' game of "the money is gone!" for the assault on the ownership by the Preferred Stocks, when the written text states "in the best interests of FHFA" from the regulatory point of view and in relation to the regulated entities it oversees, that is, the FHFA-way. Images posted below.
And ending up with what it isn't written in the text: "...and the public it serves", which can be used arguably by the UST to keep the $10B-$15B in TARP funds owed to FnF for the Making Home Affordable program, and even continue the utilization of FnF for public policies, like currently the sale of loans to women- and minority-owned businesses, etc., to the hedge funds, PIMCO can continue to build a mortgage portfolio at bargain prices, etc.

By the way, it's written in the Incidental Power of the conservator, whose etymological definition, means: actions that help out the main Power. Thus, it has to be some leeway or some very important activity, but always from the regulatory point of view as mentioned before, not to enrich the government, that even may make FnF incur losses (setting up Common Securitization Solutions -50/50 joint venture FnF- and the CSP, cost more than $1B; Delisting of the only bond on the NYSE and build capital in excess with the purpose of the redemption of the JPS (AT1 Capital. CET1 is more quality), prior to the Privatized Housing Financy System revamp chosen by the UST for the release in 2011 -3 options still -, etc.), or increase risks but, under no circumstance, it could be a way to break existing laws, like the Credit Enhancement clause in the Charter Act and the Restriction on Capital Distributions (FHEFSSA, amended by HERA), primarily because a capital distribution means that you are removing capital at a time when the conservator in charged with rehabilitating FnF, thus, that wouldn't be "authorized by this section".

This was explained clearly by the FHFA, with the exact same words, in the preface of the July 20, 2011 Final Rule (image) that enacted the CFR 1237.12 for the follow-on Separate Account plan, in light of the official declaration of capital distribution in the payment of Securities Litigation judgments (CFR 1229.13. Number 3).


A CFR 1237.12 enacted, because the former FHFA Acting Director understood it right. They were assessment sent to UST, 1989 FHLB-style. This is how you can deplete capital in FnF when it's restricted: when you are building it outside the Balance Sheet at the same time: "to meet the Risk-Based Capital requirement and the Minimum Capital Level" (Exception 1. Though 2, 3 and 4 are the same too, as the whole thing "(c) supplements" the restriction by statute U.S. Code 4614(e). Zing! The Incidental Power right there.

When I said that the debate NWS dividend🆚NWS 2.0 (SPS LP increased for free. Image below), is the same Common Equity Sweep, and thus, there are no winners, I wasn't talking about the Presidential debate on Thursday.
It just happens to be the same protagonists:
Letter to Rand Paul: "A sham, scam, a travesty brought to you by the Obama/Biden Administration"🆚the same brought to you by the Trump Administration.
Fannie Mae-No Politics.

Freddie Mac table: gifted SPS and its offset, are absent from the Balance Sheet.

Freeloadersville USA

They are trying to buy votes that’s all.

Right. The govt needs to have a housing policy . There only piece meal stuffs that don't address the root causes.

https://www.tiktok.com/t/ZPREUCWVC/

https://www.tiktok.com/t/ZPREUVJ29/

What is the progress for our 8-0 win now ?

What is the infatuation on this board for posting “news” that is 5+ years old.

They need to stop large funds from buying those homes and turning them in to rentals. They need to be owner occupied or it won't do a thing.

Why are you posting 5 year old articles?

Jordan Wathen, The Motley Fool
Updated 18 January 2019

https://sg.news.yahoo.com/finance/news/why-shares-fannie-mae-freddie-211700787.html

Uknowdamnright!

whitehouse #
THE BIDEN-HARRIS ADMINISTRATION PLANS TO LOWER HOUSING COSTS BY:
• Building 2 million new homes because housing is more affordable when supply increases
• Providing $10,000 in mortgage relief for first-time homebuyers and $25,000 in down payment assistance for first-generation homebuyers
• Expanding rental assistance
WHITEHOUSE.GOV