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Fannie Mae (QB)

Fannie Mae (QB) (FNMAG)

16.68
0.00
(0.00%)
Closed December 06 4:00PM

Empower your portfolio: Real-time discussions and actionable trading ideas.

Key stats and details

Current Price
16.68
Bid
16.30
Ask
17.00
Volume
-
0.00 Day's Range 0.00
0.00 52 Week Range 0.00
Market Cap
Previous Close
16.68
Open
-
Last Trade
Last Trade Time
Financial Volume
-
VWAP
-
Average Volume (3m)
-
Shares Outstanding
1,158,087,567
Dividend Yield
-
PE Ratio
565.38
Earnings Per Share (EPS)
-
Revenue
26.87B
Net Profit
3M

About Fannie Mae (QB)

Fannie Mae is a government-sponsored enterprise that was chartered by Congress in 1938 to support liquidity, stability and affordability in the secondary mortgage market, where existing mortgage-related assets are purchased and sold. Fannie Mae is a government-sponsored enterprise that was chartered by Congress in 1938 to support liquidity, stability and affordability in the secondary mortgage market, where existing mortgage-related assets are purchased and sold.

Sector
Mortgage Bankers & Loan Corr
Industry
Mortgage Bankers & Loan Corr
Headquarters
Washington, District Of Columbia, USA
Founded
-
Fannie Mae (QB) is listed in the Mortgage Bankers & Loan Corr sector of the OTCMarkets with ticker FNMAG. The last closing price for Fannie Mae (QB) was $16.68. Over the last year, Fannie Mae (QB) shares have traded in a share price range of $ 0.00 to $ 0.00.

Fannie Mae (QB) currently has 1,158,087,567 shares outstanding. The market capitalization of Fannie Mae (QB) is $19.32 billion. Fannie Mae (QB) has a price to earnings ratio (PE ratio) of 565.38.

FNMAG Latest News

Free Real-Time Level 2 Quotes Available in Fannie Mae and Freddie Mac at OTCMarkets.com

Free Real-Time Level 2 Quotes Available in Fannie Mae and Freddie Mac at OTCMarkets.com PR Newswire NEW YORK, Dec. 5, 2013 NEW YORK, Dec. 5, 2013 /PRNewswire/ -- Investors and traders in Fannie...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000PR
40000000PR
120000000PR
260000000PR
520000000PR
1560000000PR
2600000000PR

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FNMAG Discussion

View Posts
2latefortears 2latefortears 21 minutes ago
Ending the Fannie/Freddie conservatorships
Exiting conservatorship with fairness and competition at the forefront

December 6, 2024, 7:00 am By Scott Olson and Rob Zimmer
Near the end of the first Trump Administration, the Federal Housing Finance Agency (FHFA) finalized a capital rule for Fannie Mae and Freddie Mac. A December 2020 HousingWire article reported that this was part of an overall effort by FHFA to fulfill the statutory mandate of responsibly ending the Enterprises’ conservatorships — with Treasury Secretary Mnuchin testifying before Congress that the GSEs could be released from conservatorship once they accumulated significant capital.

With a second Trump Administration imminent, speculation is growing that the GSEs could soon exit conservatorship. At a September CHLA Roundtable, former FHFA Director Mark Calabria said that there is “maybe a 70% chance” this will be accomplished by 2027, adding that “You can get them out. It’s all feasible, doable.” [See HousingWire story on the CHLA Roundtable].

Is taking Fannie and Freddie out of conservatorship a good idea? CHLA has for many years thought so. But it must be done the right way. A framework should be established for Fannie and Freddie to operate as a true utility – balancing their critical mission of affordable homeownership and rental housing loans with financial and operational guardrails, so they don’t go off the cliff again like they did in 2008.

Equally important, there must be substantive small lender protections to protect community independent mortgage banks (IMBs) and community banks – to ensure that a level playing field is created. This is essential for rigorous competition, which benefits borrowers through lower rates and more choices.

Before people sound the alarm about Fannie and Freddie being returned to the private sector, it is critical to understand that significant financial reforms have taken place since 2008.

The 2008 HERA legislation created a strong regulator — FHFA — with responsibilities to ensure that the GSEs operate in a financially sound manner. In turn, as noted, FHFA adopted strong capital requirements for Fannie and Freddie, and they have already accumulated $146.6 billion in combined capital.

Interest rate risk has significantly been taken out of the equation, through strict caps on the volume of loans GSEs can hold in portfolio. The GSEs have been engaging in credit risk transfers, which both shift credit risk to other players and foster market discipline.

Post conservatorship, CHLA (and many others) believe the GSEs should operate under a true utility model, to rein in the types of actions that led to the conservatorship in the first place.

FHFA should not set pricing for guarantee fees — but it should prevent Fannie and Freddie from using their GSE status to maximize profits, instead keeping fees at levels commensurate with a fair return on capital. FHFA should not allow the GSEs to pursue risky loans like they did pre-conservatorship with no doc, no income loans. FHFA should not allow the GSEs to engage in activities unrelated to their core affordable housing mission of purchasing and bread and butter single family and multi-family mortgage loans.

At the same time, Fannie and Freddie should fully and vigorously pursue their affordable housing mission. CHLA has concerns here, because, for example, FHFA imposed arbitrary volume caps in 2020 on individual lenders originating GSE single family loans for investor properties and second homes.

CHLA would oppose re-imposition of these types of caps — or any other actions that arbitrarily reduce the GSEs’ footprint. Banks have broadly retreated from portfolio mortgage lending since 2008 and the private label securitization (PLS) market for single family loans is moribund. Therefore, it would be folly to assume, without evidence, that the “private sector” will step in if Fannie and Freddie retrench.

The second imperative is to ensure that smaller lenders are protected, that there is a level playing field.

In the years leading up to 2008, Fannie and Freddie offered sweetheart pricing deals to mega-lenders like Countrywide and WAMU. We saw how that turned out. So FHFA during the first Trump Administration commendably adopted a conservatorship policy of mandating G Fee parity.

G Fee parity — no pricing discounts based on lender size or lender GSE volume — needs to be an explicit policy post-conservatorship. This should be broadly defined to avoid loopholes, like price discrimination with regard to buy up/buy down grids or any use of proxies for volume discounts.

CHLA also believes private mortgage insurers should not be able to price discriminate based on the size or volume of the lender, since mortgage insurance is an essential component of lower down payment GSE loans. The same should be true for other essential third party services for GSE loans (e.g., FICO’s 2023 pricing scheme to provide significantly lower pricing to a select group of 50 lenders they picked).

Second, there must be an ongoing commitment by both Fannie and Freddie to maintaining a robust cash window, with full access to all approved seller-servicers on a non-discriminatory basis. The cash window is critical to creating robust competition. It has worked very well during the conservatorship.

Third, Wall Street Banks should not be given new GSE charters. We know Wall Street banks desire a GSE charter (back-stopped by taxpayers), so they can gain an unfair competitive advantage — solely for their own bank customers. This is antithetical to the principles of competition and fair mortgage markets.

The final issue is Congress’ role in taking the GSEs out of conservatorship. As CHLA has long pointed out, the 2008 HERA statute gives FHFA and the Treasury Department the authority to accomplish this. Therefore, while Congress is of course welcome to participate in the process, it is not essential.

CHLA’s concern about a conservatorship exit through legislation is that Wall Street Banks, with their lobbying and PAC powers, will exert unfair influence over the final legislation. We witnessed that a decade ago with the last major Congressional GSE reform. Fortunately, a coalition of small lenders, homebuilders, and consumer groups beat back efforts to give the big banks an unfair advantage.

Put simply, the overriding principle governing taking Fannie and Freddie out of conservatorship must be a level playing field for all lenders, which leads to robust competition and maximum borrower choices.

Fasten your seatbelts. It could be an interesting ride.

Scott Olson is the Executive Director and Rob Zimmer is the Director of External Affairs for the Community Home Lenders of America (CHLA), which represents small and mid-sized IMBs.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: zeb@hwmedia.com.

https://www.housingwire.com/articles/ending-the-fannie-freddie-conservatorships/
👍️0
navycmdr navycmdr 23 minutes ago
New 8K filing "appears" to be preps
for an exit from Conservatorship ?
https://fanniemae.gcs-web.com/node/43701/html

How Often Are Directors Elected?

Directors and members of corporate boards are typically selected on an annual basis,
although this may vary depending on the company's bylaws or the terms of their office.

In some cases, directors may be elected to serve multi-year terms. However, it's more
common for directors to be elected on a yearly basis



so that shareholders have the opportunity to hold them accountable
for their performance and make changes if necessary.
👍️0
trunkmonk trunkmonk 26 minutes ago
I refused to look up that stuff. It makes me nauseous just thinking about the wasted money and lack of any real talent getting paid to do nothing. It used to be 600, mose likely Obama/Biden doubled it by stuffing people into jobs to make employment numbers look better. Biggest mafia organization in history.
👍️0
Clark6290 Clark6290 27 minutes ago
Increase home prices and rents, let the underachieving deadbeats live on the street. Perhaps that will light a little initiative
👍️0
Clark6290 Clark6290 31 minutes ago
Thank you for the realistic post. You can always be counted on to post the facts albeit your profile Pic of Kim Jung Un
👍️0
Clark6290 Clark6290 34 minutes ago
Yeah, I saw this information yesterday. Do you think the data is affecting recent pps rapid decline. Perhaps the reason for conservatership
👍️0
HappyAlways HappyAlways 35 minutes ago
how you doing mate, long time no see. Do you own any shares now ?
👍️0
HappyAlways HappyAlways 40 minutes ago
To oversee the operation of 2 companies, they employ 1,226 employee. I think the reasonable headcount should be 100.
👍️0
navycmdr navycmdr 60 minutes ago
DOGE boys are on the JOB to WIPE OUT the Bloated FHFA salaries

Federal Housing Finance Agency (FHFA) Employee Salaries

The avg employee salary for the FHFA in 2023 was $183,288.

This is 155.5 percent higher than the national average for gov employees
and 137.7 percent higher than other federal agencies.

There are 1,226 employee records for FHFA.
🤯 1
pauljon4 pauljon4 6 hours ago
Dof, relax. Everything will be taken care of here.
You have nothing to do with anything.
👍️ 2 🚀 1
mrfence mrfence 8 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
👍️ 1
mrfence mrfence 8 hours ago
The GSE's have no debt. They're bux up. Please try to be more a little bit more creative with the fear mongering.
Zzzzzzzzzzz,
👍️ 1
along4zride along4zride 9 hours ago
All GSE profits moving forward needed for debt and other expenses not greedy investors selfish luxuries. Get use to the idea . Fact not fiction.
💤 1
EternalPatience EternalPatience 10 hours ago
Some ahole was looking for you today, I think on the fmcc board..
👍️0
blownaccount9 blownaccount9 10 hours ago
https://wolfstreet.com/2024/12/05/everybody-should-get-used-to-these-mortgage-rates-says-fannie-mae-ceo-mortgage-rates-10-year-treasury-yields-qt-and-spreads/
👍️0
Guido2 Guido2 11 hours ago
Good response. You're the next person he blocks. He already blocked me.
👍️ 1
RickNagra RickNagra 11 hours ago
$4 by Friday.

👍️ 4
RickNagra RickNagra 11 hours ago
Give me an F
Give me an N
Give me an M
Give me an A



Relax watch some football.
👍️ 3
Semper Fi 88 Semper Fi 88 11 hours ago
Whalen needs to be harpooned and keel hauled.
🤣 1
stink stack stink stack 11 hours ago
Relax watch some football.
👍️0
Lite Lite 11 hours ago
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
👍️ 1
RickNagra RickNagra 11 hours ago
What written stockholder consent ?  I don't remember signing anything.
👍️0
navycmdr navycmdr 12 hours ago
Whalen can't stand being wrong despite

his arguments trashed by Joshua Rosner

👍️ 8 💯 1
MRJ25 MRJ25 12 hours ago
They make it sound like an election, but the election is rigged.
Totalitarian system.
Hope this gets DOGE's attention.
👍️ 3 💯 1
navycmdr navycmdr 12 hours ago
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
👍️ 5 💯 1
mrfence mrfence 12 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
👍️ 2
Guido2 Guido2 12 hours ago
Sounds like Orwellian talk. The conservator doesn't next "elect". He/she appoints.
👍️ 1
mrfence mrfence 12 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
👍️0
roketsurf roketsurf 13 hours ago
I not understand this
https://seekingalpha.com/news/4368151-fannie-mae-shifts-to-annual-election-of-directors?fbclid=IwZXh0bgNhZW0CMTEAAR1-SPpBSEb0lsqedcr1ZwhcUXbq88zDrrlc5WyMxFNKXktqkolYqRDdjUI_aem_Fy_YycSNmpaNH0Or4icArw
💤 1
Clark6290 Clark6290 13 hours ago
Are you still sleeping Amigo
👍️0
Clark6290 Clark6290 13 hours ago
Amigo, why you sleeping
Stay awake, watch the charts
💤 1
Lite Lite 14 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.

👍️ 3 🤣 1
RickNagra RickNagra 14 hours ago
Thanks for standing up.



Please don't insult clowns with the comparison.
🤣 1
TightCoil TightCoil 14 hours ago
z z z zzzzzzzz
Z Z Z ZZZZZZZ
👍️ 1 💤 1
Clark6290 Clark6290 15 hours ago
I noticed we dropped off the cliff from the high. Still a major gamble Amigo
👍️0
RickNagra RickNagra 15 hours ago
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
👍️0
Guido2 Guido2 16 hours ago
Please don't insult clowns with the comparison.
👍 3
JSmith5 JSmith5 16 hours ago
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
👍️0
trunkmonk trunkmonk 17 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.
👍️ 5
mrfence mrfence 17 hours ago
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.
👍 5
stockprofitter stockprofitter 17 hours ago
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.
👍️ 7 💯 2 😂 1
FOFreddie FOFreddie 17 hours ago
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.
👍️ 3 🤣 1
Brooge warrants cancelled Brooge warrants cancelled 18 hours ago
no

eat a costco dog
👍️0
jcromeenes jcromeenes 18 hours ago
Any that's just salary. Benefits galore beyond the salary.
👍️0
jog49 jog49 18 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.
👍️ 3
JSmith5 JSmith5 18 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
👍️0
mrfence mrfence 18 hours ago
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.
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trunkmonk trunkmonk 18 hours ago
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.
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jog49 jog49 18 hours ago
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.
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mrfence mrfence 18 hours ago
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.
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