Saturday, March 1, 2014

Now Uncle Sam Is Ripping Off Fannie and Freddie

Now Uncle Sam Is Ripping Off Fannie and Freddie



Ideally, the government would undo the 2012 sweep, and perhaps revert to the original 2008 arrangement, as part of a decision about the future of Fannie and Freddie. More likely, the issue will be decided in the courts. A number of Fannie and Freddie shareholders are challenging the sweep as, among other things, an unconstitutional taking of their propert

Thursday, February 27, 2014

Were Fannie, Freddie Negotiations Done in Good Faith?

Were Fannie, Freddie Negotiations Done in Good Faith?



Ugoletti expects us to believe that a team of professionals, charged with managing two huge entities with combined balance sheets of $5.3 trillion in June 2012, hadn't considered that the GSEs, having returned to profitability in the midst of the U.S. housing recovery, would be able to recover their deferred tax assets. It seems incredible that the FHFA would have overlooked such an important accounting item.  The path toward DTA recovery should have been clear, because both GSEs were profitable during the second quarter of 2002, both had stopped increasing their borrowings from the government and both comfortably covered their 10% dividends to the Treasury for that quarter.

Fannie Mae, Freddie Mac: Fairholme Victory Vs Treasury

Fannie Mae, Freddie Mac: Fairholme Victory Vs Treasury



Discovery will attempt to find:
1. will enable plaintiffs to confirm that such evidence exists with regard to profitability and additionally answer the question as to when, and how, the Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) conservatorship will end
2. The question to be answered is a fact-intense inquiry that will include consideration of whether the FHFA acted at the direct behest of the Treasury. If, as plaintiffs allege, the FHFA was an agent and arm of the Treasury, then this court possesses jurisdiction over plaintiffs’ complaint. The evidence needed by plaintiffs to respond to defendant’s jurisdictional allegations is within the hands of defendant, and otherwise not publicly available.
3. Specifically, plaintiffs have shown that document and deposition discovery will disclose evidence relevant to the disputed factual issues about Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)’s solvency and the reasonableness of expectations about their future profitability, as well as provide answers related to why the government allowed the preexisting capital structure and stockholders to remain in place, and whether this decision was based on the partial expectation that Fannie Mae and Freddie would be profitable again in the future. This evidence is in the possession of defendant only

Wednesday, February 26, 2014

Bove Thinks Fannie Mae Could Be Worth $18 Per Share

Bove Thinks Fannie Mae Could Be Worth $18 Per Share


Court Grants Fairholme’s Discovery Motion in Fannie, Freddie Suit

Court Grants Fairholme’s Discovery Motion in Fannie, Freddie Suit



The truth is about to be found out.!!!

"Defendant contends that plaintiffs concede that Fannie and Freddie were insolvent; therefore the companies had no reasonable expectation of future profitability — a fact that plaintiffs deny and that plaintiffs argue can and will be proven with discovery," the ruling states.

'Essential Role' Of GSE

Fannie's New Chairman Perry Touts 'Essential Role' Of GSE



Fannie Mae plays an essential role in helping millions of Americans gain access to affordable homeownership and rental housing,” Perry said in a statement. “I am honored to leverage my experience to partner with director Watt, my fellow board members and the Fannie Mae management team to support this very important organization and its work. Fannie Mae has made significant progress over the last five years, and I look forward to playing an expanded role in its next chapter.” -

Sunday, February 23, 2014

The govt made them take the huge LOSS in 2008

truth is fannie has been running profitable for 2 of 5 years. The govt made them take the huge LOSS in 2008

in 2008 when FHFA took over fannie booked huge loss. This was not a real loss, it was a booked loss. The real amount that fannie needed was 116 bill minus 58 billion minus 10% on 116 billion for 4 years=30 billion interst.
grand total of real loss by fannie was.......
28 billion dollars. YES thats right folks. fannie needed 28 billion dollars from 2008-2011. after that they were profitable.
NOW.... this is with the banks defrauding them to the tune of 200 plus billion dollars from 2006-2009.
yes 2009. after the conservatorship the banks continued to send JUNK mortgages to fannie.
Not the kind that you could tell were junk, but the kind full of lies in the paperwork that were JUNK. this is also known as FRAUD.

fannie needed 28 billion loan, not conservatorship, until the banks paid for their FRAUD.

No matter what We know about the conservatorship, 

the world thinks money is paid back

the truth is most people dont know details, they only know the money is paid back.

Fannie Mae, Freddie Mac And Sen Mark Warner’s Hypocrisy

Fannie Mae, Freddie Mac And Sen Mark Warner’s Hypocrisy



Mr. Warner, where is the same standard for ever single entity that took TARP money? Didn’t the government lose money on the GM bailout? Where is your outrage over that?  I think we can all agree that without TARP there would be a whole lot less banks around today. Why is when they simply pay off a TARP loan touted as a success of the program and here Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) is being told “unless we get 30-1 return back you’re a failure”? Hypocritical

Privatizing Fannie Mae and Freddie Mac?

Privatizing Fannie Mae and Freddie Mac?



corker warner BAD for america!

Fed meeting 2008 pdf

Fed meeting 2008 pdf

http://www.federalreserve.gov/monetarypolicy/files/FOMC20080805meeting.pdf

use ctrl F and search for fannie


U.S. fixed-income asset managers
, who believed that the implicit Treasury support of GSE debt was likely to be harde
ned (exhibit 11). Fannie and Freddie responded by issuing less debt. To husband their liquidity, the two firms have backed away from purchasing agency mortgage-

The mortgage basis remains wide in 
part because Fannie Mae and Freddie Mac have few incentives to expand their 
balance sheets. Although their regulatory capital is still well above minimum levels, 
these capital standards are under review. Moreover, because further losses are likely 
in coming quarters, it is unclear how long this excess capital will be available to 
support portfolio growth.