Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 2804886 times)

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11170 on: January 09, 2019, 06:39:12 PM »
gnma was supposed to supplant GSEs are mbs guarantor under corker/Warner and other pipe dreams.  bright no longer bright


cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11171 on: January 10, 2019, 10:03:23 AM »
Another opponent of FNMA from the Milken Institute abruptly leaves? Coincidence?

https://www.housingwire.com/articles/47884-michael-bright-abruptly-steps-down-from-ginnie-mae

"In its announcement, HUD said that Bright is leaving “pursue a new opportunity in the private sector.”

Bright came to Ginnie Mae from the Milken Institute, a think tank. At the Milken Institute, Bright worked in the think tank’s Center for Financial Markets, where he led the housing program.

Prior to working at Milken, Bright was a top aide to Sen. Bob Corker, R-Tennessee. While working for Corker, Bright helped author the Corker-Warner housing finance reform bill, which failed in the Senate in 2015 and would have seen Fannie Mae and Freddie Mac wound down and replaced."

bright is joining SFIG (Structured Finance Industry Group), which is a PLS lobbying group.  tells me that he is one di-hard fellow traveller. also tells me he didn't see much of a future for a fellow traveller in the administration

emily

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11172 on: January 10, 2019, 10:16:46 AM »
Funny. GSE Recap and Release got hurt because Bright is so bent upon preventing GSE recap and release and will make sure it doesn’t happen by going to Structured Finance Group. Lol. The worst of gophers.

“Cowen Washington Research Group on the Ginnie situation: “We believe Michael Bright’s departure from Ginnie Mae is negative for those who favor recap and release of Fannie Mae and Freddie Mac. This is because we believe Bright will have more influence over GSE reform at the helm of the Structured Finance Industry Group than he did within HUD. And we don’t see SFIG pushing for a return to the old system”

https://www.insidemortgagefinance.com/imfnews/1_1521/daily/gse-recap-and-release-just-got-hurt-1000049113-1.html

DRValue

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11173 on: January 10, 2019, 10:56:10 AM »
C'mon Jo!
Not Investment Advice. Do Your Own Research.

Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11174 on: January 10, 2019, 11:12:35 AM »
An announcement that the NWS has been stopped seems imminent.

https://twitter.com/JoshRosner/status/1083440288415260672
@JoshRosner
OTTING in Politico Pro: "Our goal is to be able to complete the release of the GSEs but at the same time make sure that it supports the U.S. housing market."


https://twitter.com/Fanniegate101/status/1083441893340573696
@Fanniegate101
Joseph Otting has made his first on the record comments about ending $FNMA & $FMCC conservatorships & releasing them. The end of this charade is getting closer by the day. Capital is the next logical step by amending the 'net worth sweep' #FannieGate
« Last Edit: January 10, 2019, 11:36:42 AM by Luke 5:32 »

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11175 on: January 10, 2019, 12:53:43 PM »

Full text:

Otting: ‘A lot’ can get done during acting FHFA tenure

By Victoria Guida
01/10/2019 12:45 PM EDT

Joseph Otting, who took over as acting director of the Federal Housing Finance Agency this week, said today there’s a lot he can accomplish to further housing finance reform during his tenure at the agency, despite the temporary nature of his position.

Otting, who is also comptroller of the currency, will be in charge of the agency that oversees Fannie Mae and Freddie Mac until a permanent replacement is confirmed. President Donald Trump has nominated vice presidential aide and libertarian economist Mark Calabria for that position.
“There’s a clear mission that’s outlined by the Treasury and the White House, what they want to accomplish,” Otting said in an interview this morning inside the building that houses both the OCC and FHFA.

“If I can move that down the rails before Mark is confirmed, there’s a lot of things I think we can get done, and then Mark could come in and continue down the path of the mission that’s been laid out,” he added.

Otting echoed Treasury Secretary Steven Mnuchin by saying that “ending conservatorship is a priority,” and maintaining the 30-year mortgage is important.
He declined to go into detail about his views on what type of reforms might be needed to the mortgage giants, often referred to as government-sponsored enterprises.

“We have to look at the capital and liquidity requirements of the GSEs,” he said. “But by all accounts … I think the GSEs can be commended for the way they have repositioned their business models and the way they are serving the market.”

He said he was still getting his bearings in his new role, but added: “Our goal is to be able to complete the release of the GSEs but at the same time make sure that it supports the U.S. housing market.”

allnatural

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11176 on: January 10, 2019, 12:56:19 PM »
How can the market spin this as negative...  8)

orthopa

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11177 on: January 10, 2019, 01:01:16 PM »
An announcement that the NWS has been stopped seems imminent.

https://twitter.com/JoshRosner/status/1083440288415260672
@JoshRosner
OTTING in Politico Pro: "Our goal is to be able to complete the release of the GSEs but at the same time make sure that it supports the U.S. housing market."


https://twitter.com/Fanniegate101/status/1083441893340573696
@Fanniegate101
Joseph Otting has made his first on the record comments about ending $FNMA & $FMCC conservatorships & releasing them. The end of this charade is getting closer by the day. Capital is the next logical step by amending the 'net worth sweep' #FannieGate


Hopefully really imminent. That piece from October said new people were going to act fast. Lets see it!

emily

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11178 on: January 10, 2019, 01:22:48 PM »
Important : no mention of legislation. It is finally crystal clear that legislative action is dead after a decade of politics and a lot of taxpayer money wasted on farce bills by Corker and Warner.



Full text:

Otting: ‘A lot’ can get done during acting FHFA tenure

By Victoria Guida
01/10/2019 12:45 PM EDT

Joseph Otting, who took over as acting director of the Federal Housing Finance Agency this week, said today there’s a lot he can accomplish to further housing finance reform during his tenure at the agency, despite the temporary nature of his position.

Otting, who is also comptroller of the currency, will be in charge of the agency that oversees Fannie Mae and Freddie Mac until a permanent replacement is confirmed. President Donald Trump has nominated vice presidential aide and libertarian economist Mark Calabria for that position.
“There’s a clear mission that’s outlined by the Treasury and the White House, what they want to accomplish,” Otting said in an interview this morning inside the building that houses both the OCC and FHFA.

“If I can move that down the rails before Mark is confirmed, there’s a lot of things I think we can get done, and then Mark could come in and continue down the path of the mission that’s been laid out,” he added.

Otting echoed Treasury Secretary Steven Mnuchin by saying that “ending conservatorship is a priority,” and maintaining the 30-year mortgage is important.
He declined to go into detail about his views on what type of reforms might be needed to the mortgage giants, often referred to as government-sponsored enterprises.

“We have to look at the capital and liquidity requirements of the GSEs,” he said. “But by all accounts … I think the GSEs can be commended for the way they have repositioned their business models and the way they are serving the market.”

He said he was still getting his bearings in his new role, but added: “Our goal is to be able to complete the release of the GSEs but at the same time make sure that it supports the U.S. housing market.”

SnarkyPuppy

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11179 on: January 10, 2019, 03:04:04 PM »
Unbelievable.  I honestly think investor fatigue is a big part of the slow market realization.  Nobody wants to look at this again