mrfence
4 hours ago
You're FIRED!
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.
from Imgflip Meme Generator
mrfence
9 hours ago
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
mrfence
9 hours ago
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
Lite
11 hours ago
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.
trunkmonk
13 hours ago
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.
jog49
15 hours ago
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.
JSmith5
15 hours ago
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