Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 3309206 times)

SnarkyPuppy

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11710 on: February 14, 2019, 05:15:20 PM »
Is there a transcript for the hearing?


muscleman

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11711 on: February 14, 2019, 05:18:31 PM »
Is there a transcript for the hearing?

Why does that matter. Members on this board are doing an excellent job posting the most important conversations of that hearing. Thank you guys! :D
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cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11712 on: February 15, 2019, 06:05:26 AM »
wall funding:

"A senior White House official familiar with the plan told ABC News that $1.375 billion would come from the spending bill Congress passed Thursday; $600 million would come from the Treasury Department's drug forfeiture fund; $2.5 billion would come from the Pentagon's drug interdiction program; and through an emergency declaration: $3.5 billion from the Pentagon's military construction budget."

none from GSEs?!

muscleman

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11713 on: February 15, 2019, 06:45:21 AM »
wall funding:

"A senior White House official familiar with the plan told ABC News that $1.375 billion would come from the spending bill Congress passed Thursday; $600 million would come from the Treasury Department's drug forfeiture fund; $2.5 billion would come from the Pentagon's drug interdiction program; and through an emergency declaration: $3.5 billion from the Pentagon's military construction budget."

none from GSEs?!


That’s an interesting find!
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undervalued

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11714 on: February 15, 2019, 09:23:41 AM »
wall funding:

"A senior White House official familiar with the plan told ABC News that $1.375 billion would come from the spending bill Congress passed Thursday; $600 million would come from the Treasury Department's drug forfeiture fund; $2.5 billion would come from the Pentagon's drug interdiction program; and through an emergency declaration: $3.5 billion from the Pentagon's military construction budget."

none from GSEs?!


That’s an interesting find!



So currently the Tsy is getting few billions from GSE every quarter, what will happen when they let GSE go? They'll have a deficit until they redeem the Sr preferred. How soon does that need to happen?
« Last Edit: February 15, 2019, 10:06:04 AM by undervalued »
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Luke 5:32

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11715 on: February 15, 2019, 09:48:54 AM »
https://www.insidemortgagefinance.com/imfnews/1_1546/daily/fannie-freddie-recap-and-release-moves-closer-1000049582-1.html

After listening to some of the testimony by FHFA nominee Mark Calabria Thursday and then seeing trade group after trade group show their support for the director-candidate, you came away with the sense that he’s got the job. It’s just a matter of when…

Now comes the big question: What will Calabria do to Fannie Mae and Freddie Mac? What probably sealed the deal for his confirmation was his declaration that he will not reduce mortgage loan limits, an edict that warmed the hearts of the National Association of Realtors and other trades. On Thursday, NAR was among the first to issue a press statement in support of the libertarian economist and then all the others fell in line…

So, this is what might happen next: Calabria will pow-wow with Treasury Secretary Steve Mnuchin and Senior Counselor Craig Phillips and come up with a schedule whereby the GSEs will be allowed to retain more than the $3 billion maximum capital buffer they are allowed to have now. But how much? In 2018, the two earned $25 billion. If they’re allowed to keep all of it, in say six years’ time, they’ll have enough of a cash cushion to be released from conservatorship purgatory…

Unless, Treasury decides to exercise the option it owns. If so, recap and release will happen more quickly. Of course, there’s Congress to think about…
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

muscleman

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11716 on: February 15, 2019, 01:10:33 PM »
Does anyone know when the Calabria confirmation vote will happen? I don't think any material news will come out before that, right?
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DRValue

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11717 on: February 15, 2019, 01:14:13 PM »
Does anyone know when the Calabria confirmation vote will happen? I don't think any material news will come out before that, right?

From what I've read, after questions and responses, vote is about 25th Feb. I think you're correct about no news.

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allnatural

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11718 on: February 15, 2019, 04:16:25 PM »
Source on Feb 25 vote? Thats very quick

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #11719 on: February 15, 2019, 05:38:14 PM »
Does anyone know when the Calabria confirmation vote will happen? I don't think any material news will come out before that, right?

From what I've read, after questions and responses, vote is about 25th Feb. I think you're correct about no news.

Buy the dips.

committee vote?