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Fannie Mae (QB)

Fannie Mae (QB) (FNMAG)

16.50
-0.18
( -1.08% )
Updated: 10:46:26

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

Key stats and details

Current Price
16.50
Bid
16.50
Ask
16.75
Volume
100
16.50 Day's Range 16.50
0.00 52 Week Range 0.00
Market Cap
Previous Close
16.68
Open
16.50
Last Trade
100
@
16.5
Last Trade Time
10:46:26
Financial Volume
$ 1,650
VWAP
16.50
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
JOoa0ky JOoa0ky 4 minutes ago
Difaras only meant something when it was the old man tossing up the pies. But he's gone now and the whole place is now just sad.

You should give Una Pizza a try.
https://g.co/kgs/SbPSnig
👍️0
jog49 jog49 5 minutes ago
The favorite dance here is the LIMBO . . . . has been since 2008!
How low can you go!
👍️0
Barron4664 Barron4664 8 minutes ago
"THIS CERTIFIES THAT, for value received, the United States Department of the Treasury, with its principal
office at 1500 Pennsylvania Avenue, NW, Washington, DC 20220 (the “Holder”), is entitled to purchase"

These are the only words of importance in the contract. This sentence establishes a prohibited fee or charge related to the purchase of 1 million shares of senior preferred shares by Treasury. A violation of the Charter Acts of the GSE's and the Treasury's limited actions granted by Congress in HERA. Congress did not authorize Treasury to provide a "funding committment" upon which in consideration of such funding they may grant themselves 100,000 common shares/$1. Nor attach such funding as a LP on the sale of the seniors. All illegal. 
👍️ 1
FOFreddie FOFreddie 16 minutes ago
Thanks Nats! Check out AGM - Farmer Mac - another US GSE - https://finance.yahoo.com/quote/AGM/

Farmer Mac has a 2.63 div yield - Fannie and Freddie are probably less risk because they are more diversified so maybe 3 to 3.5% div yield. $ 300 bn x 3% is $9 bn annually leaving $ 16 bn for cap. The question is how much dilution and then supporting that market cap with a div yield. If you assume Boltasky is right we will need about $ 75 bn more cap. Even if it is $ 375 bn X .03 = 11.25 bn in divs.

By comparison - JPM is around 2 pct but it has more growth prospects so it should be lower. SLM - Sallie Mae also has an approx 2% div yield
👍️0
Clark6290 Clark6290 22 minutes ago
Doubtful. Are you Navy's alias
👍️0
2latefortears 2latefortears 22 minutes ago
It sure has-the GSE's in conservatorship are basically operating like a utility now (without the dividends).
👍️ 1
JSmith5 JSmith5 23 minutes ago
A utility is typically a low growth, defensive, steady performer even when the rest of the market is in a downturn (resistant to recessions). They usually pay a consistent dividend as well.

Along that line - despite COVID and other headwinds - hasn't their net income been consistent over the last few years?

Nats
👍️ 1
Guido2 Guido2 25 minutes ago
The same agreement defines "fair value". 100,000 shares for a $ isn't fair value according to the same agreement and will be challenged.
👍️ 2
Guido2 Guido2 29 minutes ago
Main drawback is more government interference than it previously had before conservatorship.
👍️0
JSmith5 JSmith5 29 minutes ago
What might the numbers look like ?

I think you could back into it. Assume 5% dividend, 2/3 of net income distributed as dividends (which I have pointed out before is perfectly normal for a utility stock).
You have about $25B in combined income - so say $18B is distributed among the 1.8 billion shares. That's $10 a share. So the stock price would have to be $200.

Now this does not take into account the warrants, juniors and seniors, and so forth. All I am saying is that, unmolested by dilution, this is what I think would be in the ballpark.

I think that, pre conservatorship, these were largely old people utility-like dividend stocks - so makes sense from that standpoint.

Hope this helps.

Nats
👍️ 1
Viking61 Viking61 30 minutes ago
Have you been to the Difara’s south Seaport location? A little closer to us.
👍️0
Sammy boy Sammy boy 33 minutes ago
This Stock is so corrupt! Shit or get off the pot! Zero or $20, make up your mind!

Lamberth and Fauci would make great cell mates!

Where’s Porky live?
👍️0
FOFreddie FOFreddie 35 minutes ago
But the Brooklyn Bridge is pretty high up on the totem pole for architectural marvels. Its amazing how that area has developed over the years - I remember when there was nothing there besides the Watchtower HQ.
👍️0
tzebedee tzebedee 37 minutes ago
I've been a Lions fan thru all the thick and thin, I've had family look down on me when wearing the Hawaiian blue, for years! Say, 51 years ! "How could you be a LIONS fan????" I would say well, how sweet it'll be.. no bandwagoners allowed lol. Joking of course
👍️0
RickNagra RickNagra 41 minutes ago
I think we might print $3 today.  Maybe not $4 but $3 for sure or mighty close to $3.  The Housing Wire article this morning would be the catalyst.  Let's hope other media outlets pick it up.  Bloomberg or Wall Street Journal would do the trick.
🚀 2 🤣 1
2latefortears 2latefortears 42 minutes ago
A utility is typically a low growth, defensive, steady performer even when the rest of the market is in a downturn (resistant to recessions). They usually pay a consistent dividend as well.
👍️ 1
Viking61 Viking61 43 minutes ago
Thanks buddy we will today. We fly back to Minny to see the Vikings play tomorrow.
👍️0
jog49 jog49 44 minutes ago
"Gse’s don’t sell loans and were not responsible for 2008"

Hell Golf, there are people in Congress that thought Fannie and Freddie were set up on every street corner in America loaning money for home purchases! And that mentality (or lack thereof) has been around since 1938.
Maybe Fannie and Freddie can loan me some money for a new car!
👍️0
FOFreddie FOFreddie 45 minutes ago
Here is the Warrant Agreement for FMCC. It provides for a cash payment and it does not seem to have a anti-dilution protection. There is some wording in one of the covenants regarding dilution but that seems to be standard wording to protect against corporate funny business. The SPSA seems to be the real issue otherwise the remaining question is how much new capital will be required to maintain a AAA rating post EXIT.

https://www.fhfa.gov/sites/default/files/2023-03/fre-warrant.pdf
👍️0
jcromeenes jcromeenes 46 minutes ago
Detroit has never won a Super Bowl. It's time. Dan Campbell seems like one of the greatest player's coaches EVER. Jared Goff is a great rehab story. So much for going for them. The injuries are a bitch. My team that I grew up watching also is TERRIBLE - Raiders. I'm rooting for Detroit to get their first SB ever!!! Between the Lions and the GSEs, I guess I just like underdogs.
👍️0
Brooge warrants cancelled Brooge warrants cancelled 49 minutes ago
never tried , the other one is down there
try difara and L&B before you leave
👍️0
jcromeenes jcromeenes 49 minutes ago
Based on his letter to Rand Paul, I'll name Donald J. Trump.
👍️ 2 💯 1
Viking61 Viking61 49 minutes ago
We like it. We got to know Patsy Grimaldi years ago . Always a good time. He’s probably 94 years old by now. He sold the original Grimaldi’s years ago and got bored in his eighties and started another pizza spot up next door to his original. Called it Julianna’s after his daughter I believe. Gino’s over by Atlantic is great also.
👍️0
jcromeenes jcromeenes 51 minutes ago
What's so frustrating is that if an article came out that felt as negative as this is positive, we would be down 15%. Instead we are up a few pennies. It's been long enough. It's time for this baby to spread its wings and fly.
👍️ 1
RickNagra RickNagra 55 minutes ago
Can someone kindly explain what an utility model would mean for us.  It seems to me we are headed in that general direction if we want to be released.  What might the numbers look like ?
👍️0
Golfbum22 Golfbum22 55 minutes ago
Some of this article is good

Some of it is bogus fake news blaming the gse’s for bad behavior and bad loans

Gse’s don’t sell loans and were not responsible for 2008

Someone needs to tell these 2 who wrote this article to get their facts straight

But any news about release is better than no news

Go FnF
👍 4
jog49 jog49 55 minutes ago
"there's support from within the DJT administration to release"

That's just a blanket statement that may or may not be true. Name some names! We all "support" release but none of us are in a position to do anything about it. Anybody in the Trump administration that you know who supports release and can do anything about it?
👍️0
trunkmonk trunkmonk 1 hour ago
2.62 on its way to 26
👍 3 🚀 2
JOoa0ky JOoa0ky 1 hour ago
Julianna's is pretty low on the totem pole for pizza rankings.
👍️0
2latefortears 2latefortears 1 hour ago
It's not that everyone WANTS a utility model, but if that's a parameter that gets the GSE's out of conservatorship with the least amount of political "fallout" this would get resolved much faster. The biggest hang-up from both sides is the "private gains, taxpayer bailout" scenario they don't want to repeat.
👍️ 1
FOFreddie FOFreddie 1 hour ago
Hi Ace, Do you think new investors would buy a GSE Common without Divs? Divs probably arent an issue - if the MV is $ 300bn and the Div yield is 4% - this would be $ 12 bn a year and $12 by could be held back to build capital. Probably a div ration of 40% - $ 25 bn x .4 = $ 10 bn in divs and $ 15 bn to build capital. In 10 years that is another $ 150bn in capital. The problem with capital is that it only earns the ROA for the GSEs which may be 3-5% so it will be a necessary inefficiency from a capital structure point of view.
👍️0
jog49 jog49 1 hour ago
"its not, you don't want a utility model, your stock won't rise"

Odd isn't it that so many of our fellow shareholders don't know that! Utilities put brackets around everything (share price, dividends, etc.) so limitations are everywhere you look?
👍️ 2
2latefortears 2latefortears 1 hour ago
Agree; the lawsuits also give us shareholders some leverage if the new administration wants to end the conservatorships quickly.
👍️ 3
Ace Trader Ace Trader 1 hour ago
If the Government writes off the SPSA and warrants and charges a fee for a backstop then yer possibly see $4 dividend per Q. But !!!

First if might not turn in Divs for commons or JPS until they reach the stupid 4.5% 

Who knows at this point it's all guess work but from the commons we have heard so far we know this 

1, there's support from within the DJT administration to release

2, we know some of those involved have large amounts of both common and JPS

3, The 4th amendment stated ( all law suits) must end before release

4, Shareholders damages payout must be settled for the 8-0 Jury and we know they won't want to appeal it as that would take to long to play out before they can release
👍️ 2
Viking61 Viking61 1 hour ago
We ate at Julianna’s pizza at the base of Brooklyn bridge a couple of days ago. It’s one of our favorites.
👍️0
skeptic7 skeptic7 1 hour ago
Read that same article in HW, thanks for sharing. I only hope that the new FHFA Director does NOT listen to the below (toward the end of the article):

"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."

Congress is NOT needed and should NOT be included. Period.
👍️0
jog49 jog49 1 hour ago
"To oversee the operation of 2 companies, they employ 1,226 employee. I think the reasonable headcount should be 100."

There should be NO headcount . . . . .period!
👍 3 💯 2
RickNagra RickNagra 2 hours ago
Getting ready for prime time.

https://x.com/alec_mazo/status/1864806031400010178?s=46&t=xLP2LlWgJrEMUZZ7Fum-nA

👍️ 2
stink stack stink stack 2 hours ago
Go Lions!
👍️0
Stern is Bald Stern is Bald 2 hours ago
Musk and Viv can only make suggestions - Congress holds the power and w/ such a slim majority good luck getting anything passed or cut and the stuff they are suggesting would be nuts politically forever... Touch Social Security? Medicaid? I see a lot of mouth flapping about to happen and minor change...
👍️0
wdereb79 wdereb79 2 hours ago
Im rooting for the Lions this year since my team is always shitty (Browns). Lots on injuries unfortunately for the Lions. Hopefully they can get healthy or find some decent replacements. Im more of a college fan though. Hotty Toddy! Go Rebs!
👍️0
Viking61 Viking61 2 hours ago
It was good for the Vikings either way but would have liked to seen the Packers pull it out. It gave some space between the Vikes and the Pack. The Vikings need to get their shyte together though. They need a killer mentality!
👍️0
pauljon4 pauljon4 2 hours ago
Not to complain, but, as a Packers fan, the officials definitely had a hand in this outcome. Or, maybe J Goff is actually J Montana.
Seriously?
👍️ 1
Semper Fi 88 Semper Fi 88 2 hours ago
Take down day or head into the weekend green? They have done the P and D several times as of late. BTW not sure why people are so hyped on DOGE. They literally have no power and elon is someone who takes attention away from trump. We all know he hates that... so far elon wanted scott as Head of Senate and he lost...wasn't even close. He wants to cut the F 35...that will never ever happen...loss # 2. His companies get green electric money to the tune of a Billion a month from taxpayers. He did not start Tesla...he invested and then bought more until he controlled it and then the taxpayer subsidized him until now and into the future for who knows how long. He invented NOTHING. He is clearly unhinged and not even born here. trump gave him a job that pays nothing and has no power...thanks for the 250 million elon...but of course his real mission? Keep that " green energy" tax money coming and that mission to Mars we also pay for...like that will help any of us? In the end we will be released in spite of and not because of elon.
👍️ 2
2latefortears 2latefortears 2 hours ago
I agree with you, unfortunately these clowns say one thing but do another.
👍️0
Brooge warrants cancelled Brooge warrants cancelled 2 hours ago
it was, I guess I was disappointed , expected the lions to blow them out
but exciting high scoring
👍️ 1
Viking61 Viking61 2 hours ago
Last night’s Lions Packers game was good.
👍️0
Brooge warrants cancelled Brooge warrants cancelled 2 hours ago
the denver game on monday night was the most exciting
👍️ 2
Rodney5 Rodney5 2 hours ago
Fannie Mae private shareholder-owned company

If Congress wants a framework established for Fannie and Freddie to operate as a true utility that's fine. BUT Congress will first need to pay the Shareholders fair market value. (explained below)

The Authors of the article quoted former FHFA Director Mark Calabria, that is only a small part of what Mr. Calabria said, need to read the rest of the story.

'The Conservatorships of Fannie Mae and Freddie Mac: Actions Violate HERA and Established Insolvency Principles:' By Michael Krimminger and Mark Calabria

Highlights

“The authors of this paper were intimately involved in the policy discussions and legislative drafting that led to the creation of HERA,”

“disregarding HERA's requirement to “maintain the corporation’s status as a private shareholder-owned company” and FHFA’s commitment to allow private investors to continue to benefit from the financial value of the company’s stock as determined by the market.”

“Conversely, if FHFA agrees to allow Treasury to seize all of the net assets from the Companies simply because Treasury has decided to prevent the Companies from returning to private control, FHFA is violating its obligations under HERA to “preserve and conserve” the Companies’ assets and protect the interests of stakeholders.”

“FHFA and Treasury have radically departed from HERA and the principles underlying all other U.S. insolvency frameworks and sound international standards through a 2012 re-negotiation of the original conservatorship agreement.”

“ignoring HERA's conservatorship requirements and transforming the purpose of the conservatorships from restoring or resolving the Companies into instruments of government housing policy and sources of revenue for Treasury;”

“Congress consciously chose to vest with FHFA, not Treasury, the sole authority over invoking and conducting a conservator or receivership. The role of Treasury is exclusively that of a creditor”

“the Companies received billions of dollars in Treasury support. However, all of that money was repaid long ago. As of today, Treasury has diverted nearly $40 billion beyond what it initially invested in the Companies.”

“If that process can be manipulated to favor one creditor – as FHFA has favored Treasury – then there is no basis to judge what could happen if a company fails. This is particularly troubling because it is the government that has subverted the normal conservatorship process”

“stripping all net value from Fannie Mae and Freddie Mac long after Treasury has been repaid when HERA, and precedent, limit this recovery to the funding actually provided.”

NOTE: limit this recovery to the funding actually provided.

Mr. Calabria referenced HERA and precedent. Federal Statutes do not allow the Treasury to attach a commitment fee onto the Senior Preferred Stock. THEREFORE, by reason of Federal Statute, the Treasury owes the companies the overage payment on $191.4 billion total draws from Treasury, plus compounded interest; (recommended interest payment at a compounded rate of return 10%, in conjunction with the amount the FHFA recommended to the Treasury).

FEDERAL STATUTES

The Charter Act, and the Federal Housing Enterprises Financial Safety and Soundness act of 1992 (FHEFSSA); Both as amended by the HOUSING AND ECONOMIC RECOVERY ACT OF 2008, (HERA). The Charter Acts are Fannie Mae and Freddie Mac's enabling statutes. FHEFSSA and HERA are regulatory statutes, governing the companies' regulators. All are laws passed by Congress.

HERA is a Federal Statute not a contract, the Senior Preferred Stock Purchase Agreement is a contract not the law.

The day of the take down Fannie Mae’s core capital of $47.0 billion and Freddie Mac’s core capital of $37.1 billion Totals $84.1 billion. This amount of core capital remained with the companies until the illegal commitment fee started sucking shareholders money into the dark hole of the Treasury. This continues until massive profits were foreseen by the Treasury coming in to the companies as net profit. At this time Treasury implemented the Net Worth Sweep. From the point in time of the start of the collection of the illegal commitment fee until the companies were allowed to retain earnings a total of $301.1 billion was sent to the Treasury.

$181.4 billion Fannie returned to Treasury. Form 10K Dec 31, 2023. Page 9

$119.7 billion Freddie returned to Treasury. Form 10K Dec 31, 2023 Page 5

Total $301.1 billion

For the purpose of a new lawsuit, that any district court has jurisdiction over, by reason of Federal Statute, the Treasury owes the companies the overage payment on total draws in the amount of draws $191.4 billion, the overage payment $109.7 billion, plus compounded interest; (recommended interest payment at a compounded rate of return 10%, in conjunction with the amount the FHFA recommended to the Treasury).

Under the funding agreement the Treasury paid to Fannie $119.8 billion Form 10k December 31, 2023 page 8

Under the funding agreement the Treasury paid to Freddie $71.6 billion Form 10k December 31, 2023 page 5

$191.4 billion total draws from Treasury

The calculation includes both companies and the calculation starts at the point in time when the Net Worth Sweep was implemented. Calculation of interest payments the Treasury owes Fannie and Freddie Shareholders.

Note: the interest calculation does not include the space in time from the start of the illegal commitment fee period up to the NWS. This amount should be calculated and added to the total amount of interest calculated below.

$301.1 billion sent to the Treasury.
Treasury draws totaling $191.4 billion
Difference of $109.7 billion the Treasury owes to the Shareholders in over payments.

August 17, 2012, Treasury and FHFA agreed to amend the PSPAs, changing the 10% dividend into a “Net Worth Sweep.” The Net Worth Sweep required Fannie Mae and Freddie Mac to pay the full amount of their net worth to Treasury every quarter. FHFA Director DeMarco, this non-elected bureaucrat, has been allowed to steal the companies for the Treasury.

From 2012 to 2024

At a compound annual growth rate of 10% on amount Treasury owes Shareholders $109.7 billion. The interest at the rate of 10% on $109.7 billion calculates within a 12 year period of time in the amount of $344.29 billion in interest.

Principal of $109.7 billion plus $344.29 billion in interest = $453.99 billion

The Treasury owes the Shareholders $453.99 billion

Compound Interest Calculator
Initial investment $109.7 billion, length of time in years 12, interest rate 10% annually.

?Third quarter 2024
Fannie Mae Net Worth $90.5 billion
Freddie Mac Net Worth $56.3 billion

Combined Net Worth $146.8

$146.8 billion plus $453.99 billion = $600.79 billion

Fannie Mae common stock outstanding 1,158,087,567

Freddie Mac common stock outstanding 650,059,553

Combined common stocks
1,808,147,120 … ( Fannie Mae 64.05% Freddie Mac 35.95% }.

$600.79 billion / 1,808,147,120 =

$332.26 per share combined

Fannie Mae 64.05% is $212.81 per share

Freddie Mac 35.95% is $119.44 per share

The above calculation does not include the combined Earnings Power of the companies businesses.

EARNINGS POWER OF THE BUSINESSES

Fannie Mae’s common stock outstanding 1,158,087,567

$18.8 billion net income per year / 1,158,087,567 = $16.23 per share of earnings,

PE Ratio of 14 x $16.23 = $227.22 per share intrinsic value.

Freddie Mac common stock outstanding 650,059,553

Net earnings $3.1 billion per quarter, $12.4 billion net per year.

$12.4 billion net / 650,059,553 = $19.07 per share of earnings

PE Ratio of 14 x $19.07 = $266.98 per share intrinsic value.

Fannie Mae Earnings Power $227.22 plus 64.05% $212.81 = $440.03

Intrinsic Value $440.03 per share

Freddie Mac Earnings Power $266.98 plus $119.44 = $386.42

Intrinsic Value $386.42 per share

Again Note: the interest calculation does not include the space in time from the start of the illegal commitment fee period up to the NWS. This amount should be calculated and added to the total amount of interest calculated.

Treasury taking any amount of equity from shareholders will be considered stolen property under federal law. The Treasury and FHFA illegal exaction due to violating Federal statutes all monies with interest should be returned to the companies. Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee on a line of credit to be paid by the Enterprise.

Illegal exaction explained: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174797511

Link to Calabria writing; https://www.cato.org/sites/cato.org/files/pubs/pdf/working-paper-26_1.pdf
👍️ 1 💯 1
wdereb79 wdereb79 2 hours ago
Talking football might make the next 45 days go by faster! For some reason, each day seems to go by slower and slower as we get closer. But I am sure that would break rules on this board. lol.
👍️ 1

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