Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 2718065 times)

rros

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10620 on: October 14, 2018, 02:29:58 PM »
https://www.reuters.com/article/us-usa-election-tennessee/in-tennessee-a-democrat-scrambles-to-turn-out-voters-as-polls-show-slide-idUSKCN1MO0C7

https://www.fool.com/investing/general/2015/04/01/a-step-in-the-right-direction-for-fannie-mae-and-f.aspx
Although Marsha Blackburn could be a much better congress person for FF shareholders, we cannot rely on what happened many years ago. This is politics. It is unwise to think that Calabria at FHFA or Blackburn replacing Corker would mean 'stars are aligning'.


Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10621 on: October 15, 2018, 06:54:56 AM »
Chairman of MBA this morning...

https://twitter.com/DoddFrankUpdate/status/1051822050451578880
Chris George on #GSE reform: "We have got to get our agencies out of conservatorship." #MBAAnnual18

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10622 on: October 15, 2018, 08:36:24 AM »
Chairman of MBA this morning...

https://twitter.com/DoddFrankUpdate/status/1051822050451578880
Chris George on #GSE reform: "We have got to get our agencies out of conservatorship." #MBAAnnual18

https://twitter.com/DoddFrankUpdate/status/1051856893189246976
Phillips: administration advocates end of conservatorship and a return of Fannie and Freddie to private ownership. #MBAAnnual18

Luke 5:32

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rros

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10624 on: October 15, 2018, 08:56:43 AM »
Video of Phillips: https://twitter.com/MBAMortgage/status/1051860342362390528
Thank you.

-> explicit guarantee fully paid paid for and on budget
- > charters removed (requires Congress)
- > seeks level-playing field through sizing (meaning, imo, shrinking FF).

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10625 on: October 15, 2018, 09:30:31 AM »
Where oh where are we going to get the necessary money for infrastructure plans? :-)

https://twitter.com/austinpkilgore/status/1051871781374574592
"We should think of housing as core infrastructure of the country," similar to roads and transportation, says outgoing @FannieMae CEO Tim Mayopolous #MBAAnnual18
« Last Edit: October 15, 2018, 09:34:14 AM by Luke 5:32 »

orthopa

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10626 on: October 15, 2018, 11:45:59 AM »
Am I wrong in saying this is the first time Phillips has confirmed or said these things? Again market not buying it or ignoring it. Maybe market thinking time to implementation makes the securities still unattractive at these prices? Not sure what else needs to be said here besides when and how much. Market saying still no more then 25% of par at this point.
« Last Edit: October 15, 2018, 12:24:57 PM by orthopa »

investorG

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10627 on: October 15, 2018, 12:07:16 PM »
Am I wrong in saying this is the first time Phillips has confirmed or said these things? Again market not buying it or ignoring it. Maybe market thinking time to implementation makes the securities still unattractive at these prices? Not sure what else needs to be said here besides when and how much. Market saying still no more then 25% of par at this point.

Phillips' comments seem good.  hopefully they are 'all in' to get this done in 2019 rather than just talking points.  His bullets appear to confirm the Mulvaney OMB plan from a few months ago and don't seem aligned with the House republicans' ginnie mae lovefest.

muted reaction could possibly be a) disappointed people who were still clinging to near term administrative action and b) supply overhang from hedge funds like highfields (gse owner) closing and possibly forced redemptions from owners like fairholme (see their performance).

hopefully they go hard in 2019 on this.  assuming they throw in some affordable housing $, it is not impossible for Congress to get this done next year with base case Pat Toomey and Maxine Waters leading and getting a lot but not all of what they want.

investorG

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10628 on: October 15, 2018, 12:15:46 PM »
We know how important 110 billion is to the admin. Why would 150-200 billion from warrants be not important?


when including dilution and lower earnings from higher competition forward looking, its probably more like 75-100bn value to the govt from warrants.

investorG

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #10629 on: October 15, 2018, 12:18:45 PM »
Chairman of MBA this morning...

https://twitter.com/DoddFrankUpdate/status/1051822050451578880
Chris George on #GSE reform: "We have got to get our agencies out of conservatorship." #MBAAnnual18

https://twitter.com/DoddFrankUpdate/status/1051856893189246976
Phillips: administration advocates end of conservatorship and a return of Fannie and Freddie to private ownership. #MBAAnnual18

with private ownership an official goal of OMB + Treasury, they should start the capital build yesterday with the 10pct moment having been hit -->> be bold, do the right thing, and replace the NWS sweep with the capital backstop fee!