Fannie Mae (QB) (FNMAG) News

Good response. You're the next person he blocks. He already blocked me.

$4 by Friday.

Give me an F
Give me an N
Give me an M
Give me an A



Relax watch some football.

Whalen needs to be harpooned and keel hauled.

Relax watch some football.

Will be interesting to see how this game of bingo plays out—what has the Board of Directors, for either enterprise, been doing for the last 16 years?

Go DOGE

What written stockholder consent ?  I don't remember signing anything.

Whalen can't stand being wrong despite

his arguments trashed by Joshua Rosner

They make it sound like an election, but the election is rigged.
Totalitarian system.
Hope this gets DOGE's attention.

Whalen just posted this Dec 2nd GSE

hit piece to keep pressure on share prices

even though Joshua Rosner factually

refuted Whalens arguments

https://x.com/rcwhalen/status/1864841193701388688?t=eJNanFY-Q3PPPo5ekdhyjA&s=19

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 2, 2024
Federal National Mortgage Association
(Exact name of registrant as specified in its charter)
Fannie Mae
Federally chartered corporation 0-50231 52-0883107 1100 15th Street, NW 800 232-6643
Washington, DC 20005
(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.) (Address of principal executive offices, including zip code) (Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
? Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

? Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

? Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

? Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
None N/A N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ?

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?


Item 5.07 Submission of Matters to a Vote of Security Holders.
Election of Directors
Upon its appointment as conservator of Fannie Mae in September 2008, the Federal Housing Finance Agency (“FHFA”) succeeded to all rights, titles, powers and privileges of Fannie Mae, and of any stockholder, officer or director of Fannie Mae with respect to Fannie Mae and its assets, including the stockholders’ rights to elect our directors.
Since FHFA reconstituted our Board of Directors in 2008, subsequent vacancies have been filled by the Board, subject to review by the conservator. Board members who were appointed for the first time in 2021 or thereafter have been serving three-year terms while we are in conservatorship.
We recently implemented an annual election schedule for our Board of Directors, and FHFA executed a written stockholder consent, dated December 2, 2024, electing all of the current members of Fannie Mae’s Board of Directors:
•Priscilla Almodovar
•Diane N. Lye
•Amy E. Alving
•Diane C. Nordin
•Christopher J. Brummer
•Chetlur S. Ragavan
•Renée Lewis Glover
•Manuel Sánchez Rodríguez
•Michael J. Heid
•Michael A. Seelig
•Simon Johnson
•Scott D. Stowell
•Karin J. Kimbrough

Each director will serve for a term that ends on the date of our next annual meeting of shareholders, or when the conservator next elects our directors by written consent, and will hold office until their successor is chosen and qualified, or until the director’s earlier resignation, retirement, removal, or death. As Chief Executive Officer, Ms. Almodovar’s service on the Board ceases at the termination of her employment as Chief Executive Officer unless otherwise requested by the Board.
1


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FEDERAL NATIONAL MORTGAGE ASSOCIATION
By /s/ Thomas L. Klein
Thomas L. Klein
Enterprise Deputy General Counsel—Vice President

Date: December 5, 2024
2

Sounds like Orwellian talk. The conservator doesn't next "elect". He/she appoints.

It's a list of all the people we're going to fire next year.
Fannie Mae shifts to annual election of directors
Dec. 05, 2024 4:44 PM ETFederal National Mortgage Association (FNMA) StockBy: Liz Kiesche, SA News Editor2 Comments

Fannie Mae (OTCQB:FNMA) recently implemented an annual election schedule for its board, and its conservator, the Federal Housing Finance Agency, executed written stockholder consent, electing all the company's current board members, it said Thursday.

Since 2021, board members appointed for the first time to the board served three-year terms.

Directors elected to the board are: Priscilla Almodovar, Amy E. Alving, Christopher J. Brummer, Renée Lewis Glover, Michael J. Heid, Simon Johnson, Karin J. Kimbrough, Diane N. Lye, Diane C. Nordin, Chetlur S. Ragavan, Manuel Sánchez Rodríguez, Michael A. Seelig, and Michael A. Seelig.

Each director will serve for a term that ends on the date of our next annual meeting of shareholders, or when the conservator next elects our directors by written consent, Fannie Mae

I not understand this
https://seekingalpha.com/news/4368151-fannie-mae-shifts-to-annual-election-of-directors?fbclid=IwZXh0bgNhZW0CMTEAAR1-SPpBSEb0lsqedcr1ZwhcUXbq88zDrrlc5WyMxFNKXktqkolYqRDdjUI_aem_Fy_YycSNmpaNH0Or4icArw

Are you still sleeping Amigo

Amigo, why you sleeping
Stay awake, watch the charts

I like a couple of parts to this press ‘release’ - a ‘tell-tell’ sign?

Fannie Mae (OTCQB:FNMA) recently implemented an annual election schedule for its board, and its conservator, the Federal Housing Finance Agency, executed written stockholder consent, electing all the company's current board members, it said Thursday.


Each director will serve for a term that ends on the date of our next annual meeting of shareholders, or when the conservator next elects our directors by written consent, Fannie Mae (OTCQB:FNMA) said.

Thanks for standing up.



Please don't insult clowns with the comparison.

z z z zzzzzzzz
Z Z Z ZZZZZZZ

I noticed we dropped off the cliff from the high. Still a major gamble Amigo

What's this all about Willis ?  It's easy to read this article without a subscription to Seeking Crap.

https://seekingalpha.com/news/4368151-fannie-mae-shifts-to-annual-election-of-directors

Please don't insult clowns with the comparison.

Prob too optimistic but this feels much different.

FOFreddie - No, I think you are right - this time is different.
In regard to the SC decision - I ignored one important fact - that the 6 conservative justices were all Libertarians. So, in hindsight - no so surprising an outcome.

Nats

I know exactly who is a P holder, they smooze Cs then tell u how many Commons each P will get. its actually humorous. SPSA agreement is more sticky, its unilateral death spiral lending. the PHateFilledSnakes luv it, and try to justify the illiquidity behind it, SM and others may be in jail or charged in the end. they have to get someone just the opposite of Mnuchin, he was a snake through and through, they need a man with ethics, lets hope he is. fact is, they have already been paid back, in full with interest. No conversion or free rip off warrants (that are illegal anyway if they did) they were only insurance.

If I owned JPS from pre C-ship today, I'd dump them now and buy commons with the proceeds while they're still cheap and carry the loss forward until at least 1,000% appreciation on the acquired commons and come out smelling like a rose. To bad Bradford can't do that since he borrowed against the face value of his pref by putting them up as collateral. The taxpayer has already gotten a huge return on the hijacking they financed. Meanwhile, the Trump team is preparing to write down the Senior Pref and Warrants for C-ship release the same way Gooberment has done with every other bailout historicaly. That's been done with many companies that never actually returned more proceeds than received as the GSE's have. There's no advantage to the GSE'S to dilute commons in order to cash out the Prefs. That would be irresponsible finance with today's low interest rates.

No warrants and no conversion, Ps lose the right to vote at the next meeting and secondly ghe Ps are not convertible except for one series FMNFO at around $90 bucks a share.

Hint: they can’t be converted as per and within the SPSA and after the SPSA if torn up the shareholders will vote NO to any sort of conversion.

You’re welcome.

Great points Nats! I actually bought FMNAT on the IPO at $ 25 in May of 2008 and owned over $ 500k of common prior to the Conservatorship - I expected an recap because I thought a conservatorship would be too disruptive and I primarily owned Freddie because I really respect Dick Syron and their CFO. They did not have the risk that Daniel Mudd took on with the subprime. Freddie always made more than charge offs during conservatorship. I did more JPS after the Conservatorship from Oct 2008 to 2010 but when you calculate and IRR for 15 years even that gets low especially when you consider the opportunity costs of investing in the S&P 500 during that period or Apple like all of my friends did.
I am 99 pct JPS right now and expect PAR on the JPS - I did buy some common prior to the DJT victory and think we may end up in the mid teens. I would think that the DJT Admin wants an easy win for the DOGE program and the GSE EXIT is low hanging fruit and would allign with the interest of many who matter to DJT. It is clear that Hank and BO screwed the shareholders so why would DJT want to the same as those he despises? Keep it Simple - raise the needed capital, offer JPS a conversion opportunity to get to the CET1 numbers and then exercise or sell back the UST warrants for 80 pct. It would seem that FMCC should be worth 10X annualized earnings of $ 12.5 bn and if we are currently at $ 60 bn ( year end) we would be at $ 85 billion at the end of 2026 before a new congress is installed. This leaves $ 45 bn in potential dilution of which $ 14 bn could come from a JPS conversion - so maybe $ 30 bn from the markets. Probably all wrong but we should know how wrong ( or right) we are fairly soon. Got to believe we are going to know a plan within 6 months - maybe much earlier? Prob too optimistic but this feels much different. Agree with you on the SCOTUS shock.

no

eat a costco dog

Any that's just salary. Benefits galore beyond the salary.

Makes one say "where is the justice?" and the simple answer is, this day and time in the United State, there is NO justice. If you are lucky enough to get your case into court, it's a tossup as to your outcome. In the last 10 years or so, I've seen some of the most ridiculous decisions being handed down in courts and by judges who you would have thought to have good, common sense resolutions. Everything seems to be corrupted with much rotten to the core.

the solution will be closer to what DJT has already espoused which would seem to be more generous that what John Paulson has stated?

FOFreddie - That's definitely the question. Although Paulson stated 90-95% he was just relating what Wall Street was kicking around - seems kind of high to me. And remember, even the warrants are an "'up to" number. But even with the warrants fully exercised, as long as they don't go too far into the seniors (if at all), most of us will do o.k.

I could be wrong, but believe that most of the folks on this board, including me, were not the same folks who were screwed over by the Government in 2008 or even 2012, but came by way of these stocks much later in the game because it was a special situation and we saw the opportunity to make better than average returns. It was a great risk/reward play when you could buy 100,000 common shares for a quarter each or preferred shares for a nickel on the dollar (not that I got in that cheap for either). But the warrants and the seniors existed at the time many of us bought and we knew what we were buying into. Yet many of these late comers are same people who complain that the Government screwed us. They didn't screw me because I bought in the post-screw period as I think most of us did. People got out their calculators and started multiplying their number of shares by $5 and said "why not $50?" then "why not $150? $350"?. Thinking closer to winning the lottery than investing in 2 solid companies. (I still can't wrap my head around MBS backed by 750 FICOs and 50% LTVs - Damn!! ) And then developing a sense of entitlement - as in hey - the Government owes me at least $xx per share because they screwed the company 16 years ago.

I am as greedy (or needy) as anyone else. But I know that the share price is limited by the warrants which I expect to be exercised. The key remains what they will do with the seniors. I think they will be cancelled, or at worst we get "senior lite".

I am just saying that, unless you bought 16 years ago, we should all do fine. Man, woman and child. You may not be jetting to the Rivera 6 times a year for vacation, and may not agree with me about the ultimate outcome, but most of us would agree that everything seems to be falling in place now for release which I think has favorably impacted the price of our stock. Again, I could be wrong on all of this as I am one of the folks that confidently predicted a SC 6-3 victory and we got a 9-0 wipeout (except for the Director removal part).

Nats

Correct, da Gooberment collected over 100bil off the books through court judgements this way after forcing FnF to buy the liar loans with the bailout money 💰. Then FnF still owed da Gooberment for the defaulted loans Gooberment had directly settled through courts at a loss. I'm calling it WOKE FINANCE brought 2 U by Obummer.

Clown show continues, Commons will be as much as Ps post conserve, there will be no forced conversion, no Ps gonna get rich like they been pushing for and loosing in court and in theory for over 10 years. Its all a clown show where nobody understands anything about how markets work other than what they want to do in their cellars on paper.

Unfortunately, that was my background point. Feds may be supplying some funding but I don't know. FHFA is duplicating work being done by F&F employees on a daily basis. Let the IG determine if they are doing a good job and scrap FHFA.

There yah go with the petty BS again. A broken clock is right twice a day. Hit his target 2 years later at the end of loss harvest season, really? Nevermind it bounced up almost 200% the next day. Nobody gives two year targets so please stop trying to rationalize irrelevant BS with more BS.

Ps will likely disappear but in the highly unlikely event they don’t we are still looking at $30 - $40 /share or 10 Xs todays share price.

Part of those settlements were funneled to NGOs.
https://www.latimes.com/politics/la-na-pol-settlements-doj-20170606-story.html

https://x.com/gse_newstoday/status/1864731438769213604?s=46&t=xLP2LlWgJrEMUZZ7Fum-nA

Another 100K buy order.

we can all agree that there's no need for FHFA , however the money is coming from fann and fred so it might not be on top to get rid of

52 week high $3.65.  Anyone else notice something peculiar about this ?  Supernatural forces trying to tell us something ?

"Need alert DOGE the salaries paid to FHFA."

Isn't F&F still funding FHFA? If so, WE are paying those salaries!!!!!!

175K buy order.

Need alert DOGE the salaries paid to FHFA.

Post-conservatorship conversion will give 500 shares of commons per 25 PAR JPS share.

https://www.justice.gov/opa/pr/goldman-sachs-agrees-pay-more-5-billion-connection-its-sale-residential-mortgage-backed


Why didn’t any of the $2.4B go to the GSEs who were the victims of this crime? Seems odd government got paid for the losses incurred by the GSEs but no credit was given for their losses. This is how it went for every bank that accepted some liability for bad mortgages they wrote.

Think about the retirees who had Fannie and Freddie in their retirement accounts to supplement their incomes with dividends, stuck with F&F thinking the conservatorships would end in a reasonable timeframe, and died without receiving any benefit whatsoever from their hard-earned money because of the gameplay by the perpetrators; all of whom should be stung up just like would have been done in the wild west.

those jobs are favors to somebody, they most likely have no idea what GSE do, dont understand it, audit uselessly, and contribute no value to anything....u know, like the Resident GSEKTCarneyCorkerClown Club who always want more theft from shareholders.
what do you want to bet some are in our midst daily???

Fannie & Freddie are "run" by their respective

CEO's CFO's and Their OWN Employees and

have been doing so PROFITABLY for over a DECADE NOW !

so WIPE OUT the BLOATED FHFA Govt AGENCY that keeps

growing with OVERPAID GOVT salaries NOT NEEDED !

Thanks, do you believe FHFA employee salary's have an impact on pps, or release. What is the tie in here