Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 2947009 times)

allnatural

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9920 on: May 31, 2018, 08:46:17 AM »
http://www.freddiemac.com/investors/pdf/investor-presentation.pdf

Freddie Mac investor presentation from today. See page 6 where Freddie admits that ADMIN might determine future and that its "PERHAPS LIKELY" that we will see significant changes in the near term.

"Our future structure and role will be determined by the Administration and Congress, and it
is possible, and perhaps likely, that there will be significant changes beyond the near term."

Was this language included in prior presentations?


Midas79

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9921 on: May 31, 2018, 08:51:43 AM »
http://www.freddiemac.com/investors/pdf/investor-presentation.pdf

Freddie Mac investor presentation from today. See page 6 where Freddie admits that ADMIN might determine future and that its "PERHAPS LIKELY" that we will see significant changes in the near term.

"Our future structure and role will be determined by the Administration and Congress, and it
is possible, and perhaps likely, that there will be significant changes beyond the near term."

Was this language included in prior presentations?

What you said (in bold) and what the presentation said (in bold) are actually opposites. The presentation's words make it seem that there will be no major changes in the near term, which fits with Mnuchin's statements that he doesn't expect anything to happen in 2018. IMO only a court ruling in favor of shareholders will prod Treasury into action earlier, and Freddie Mac can't anticipate that.

allnatural

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9922 on: May 31, 2018, 10:02:19 AM »
I'm in your camp. Only hope for 2018 is a positive court ruling to prompt admin action or a direct Trump push by deciding he wants $100b for his wall asap and Mnuchin gets to work. 2019 is put up or shut up year for GSE reform. I won't be suckered into another year of this past that! :)

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9923 on: June 01, 2018, 10:58:42 AM »
The narrative, slowly but surely, is shifting towards them being released from conservatorship. If it doesn't seem like they're in conservatorship (according to David Stevens' mouth piece IMF), then why keep them in that state?  I know this isn't news to anyone that the conservatorship will end (Mnuchin has blatantly stated that), but those wanting to kill the GSE's are waking up to the fact that their desire won't happen, and it seems to me they are preparing themselves for that.  No, I didn't derive all of that from one headline... but from what has transpired the past year or so.

The GSEs in Conservatorship: Sure Doesn’t Seem Like It

https://www.insidemortgagefinance.com/imfnews/1_1369/daily/gses-in-Conservatorship-Sure-Does-not-seem-Like-It-1000046264-1.html#Login
Invest for retirement?  Sure.  But investing in eternity is infinitely more important.  Don't get it twisted.  "...but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal."  Matthew 6:20

rros

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9924 on: June 01, 2018, 11:21:00 AM »
More on that...

By John Bancroft

jbancroft@imfpubs.com

Fannie Mae and Freddie Mac don’t act like two companies in their 10th year of government conservatorship, waiting for federal policymakers to figure out what to do with them.

Quote
Officials from the two government-sponsored enterprises reported on a broad range of initiatives aimed at improving mortgage-market efficiency and steering toward changing demographics during the recent secondary market conference sponsored by the Mortgage Bankers Association.

Kevin Palmer, senior VP of single-family credit-risk transfer at Freddie, said the GSE is working to “reimagine the mortgage experience” by leveraging the huge repository of data it has to make things easier through the entire process.

Freddie has also launched a “Borrower of the Future” initiative to study the changing demographics and economics of the market. “Affordability is getting worse,” Palmer said, noting that over 40 million households are struggling with housing affordability. For full details, see the new edition of Inside MBS & ABS, now available online.

Luke 5:32

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Invest for retirement?  Sure.  But investing in eternity is infinitely more important.  Don't get it twisted.  "...but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal."  Matthew 6:20

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9926 on: June 05, 2018, 10:10:38 AM »
New from the Milken Institute Housing Finance Program: Senior Fellows Michael Stegman and Phill Swagel begin a series of papers that focuses on the effectiveness of the affordable housing measures we have in place today.

https://assets1c.milkeninstitute.org/assets/Publication/Viewpoint/PDF/WP-An-Affordable-Housing-Fee.pdf
Invest for retirement?  Sure.  But investing in eternity is infinitely more important.  Don't get it twisted.  "...but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal."  Matthew 6:20

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9927 on: June 06, 2018, 06:55:35 AM »
In Multifamily Finance, Fannie and Freddie Are Still the Elephant in the Room
https://commercialobserver.com/2018/06/fannie-freddie-conservatorship/
Invest for retirement?  Sure.  But investing in eternity is infinitely more important.  Don't get it twisted.  "...but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal."  Matthew 6:20

Spekulatius

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9928 on: June 06, 2018, 03:53:55 PM »
Let them take them to receivership and drop preferreds and commons to zero. That is what Watt, MBA and fellow travelers want for last 10 years. Let their wishes come true (and affordable housing will be completely gone too with it). This Corsi guy has been tweeting again but I agree with you all, it has no meaning and nothing is going to happen, all talk. Venezuela style.

I don’t get what  Freddie/Fannie receivership and affordable housing have to do with each either. They are two separate issues.
To be a realist, one has to believe in miracles.

rros

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #9929 on: June 06, 2018, 07:13:27 PM »
Let them take them to receivership and drop preferreds and commons to zero. That is what Watt, MBA and fellow travelers want for last 10 years. Let their wishes come true (and affordable housing will be completely gone too with it). This Corsi guy has been tweeting again but I agree with you all, it has no meaning and nothing is going to happen, all talk. Venezuela style.
Emily... hey, Chavez compensated shareholders in the billions after expropriation of PDVSA. Don't you wish we were a little Venezuela that style?