Author Topic: FNMA and FMCC preferreds. In search of the elusive 10 bagger.  (Read 4651163 times)

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16250 on: November 20, 2020, 07:10:22 AM »
I got that same feeling. Trying to set the narrative of exactly that

right. Ackerman is too much of a tool not to be used as a tool by C/Mn.

the collins reply brief was due 11/23, filed 11/19.  you almost never see an early filing.  https://www.supremecourt.gov/DocketPDF/19/19-422/161278/20201119155421721_11-19-20%20Collins%20Merits%20Reply.pdf


SnarkyPuppy

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16251 on: November 20, 2020, 07:17:58 AM »
I got that same feeling. Trying to set the narrative of exactly that

right. Ackerman is too much of a tool not to be used as a tool by C/Mn.

the collins reply brief was due 11/23, filed 11/19.  you almost never see an early filing.  https://www.supremecourt.gov/DocketPDF/19/19-422/161278/20201119155421721_11-19-20%20Collins%20Merits%20Reply.pdf

Anything to glean from an early filing?

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16252 on: November 20, 2020, 07:50:55 AM »
I got that same feeling. Trying to set the narrative of exactly that

right. Ackerman is too much of a tool not to be used as a tool by C/Mn.

the collins reply brief was due 11/23, filed 11/19.  you almost never see an early filing.  https://www.supremecourt.gov/DocketPDF/19/19-422/161278/20201119155421721_11-19-20%20Collins%20Merits%20Reply.pdf

Anything to glean from an early filing?

it may just mean Collin's law firm is slammed by declines on other cases.  or it could mean something else...

orthopa

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16253 on: November 21, 2020, 08:06:10 AM »
I got that same feeling. Trying to set the narrative of exactly that

right. Ackerman is too much of a tool not to be used as a tool by C/Mn.

the collins reply brief was due 11/23, filed 11/19.  you almost never see an early filing.  https://www.supremecourt.gov/DocketPDF/19/19-422/161278/20201119155421721_11-19-20%20Collins%20Merits%20Reply.pdf

The article was certainly a trial ballon. This has been telegraphed for essentially years now so not sure why the MBS market would be suprised by this. I dont have access to an instrument to tell by pricing or otherwise if they were or will be "surpised" but I doubt that to be the case. Apparently Sherrod Brown has come out and said he thinks Mnuchin is the worst Treasury Secretary of all time so he wont lose any friends there by doing the PSPA.

Calabria has said that the lawsuits go away with the 4 PSPA and with the timing here that very likely maybe the case. For optics there may not be a "settlement" as much as plaintiffs drop the case no? It would be in their best interest depending what's in the 4th PSPA to preserve Calabria for as long as possible and let his removal play out through the legal system.

Someone please tell me if Im off on this but once there is a 4th PSPA within 30 days FHFA should request recap plan. FnF then have 45 days to respond and in turn FHFA has 60 days to approve. So we are looking out no further then 4.5 months from the PSPA amendment to know the final fate of the Jr Preferred. Hopefully sooner as one has to imagine JPM and MS have been sitting on plans for months and just tweaked it Wednesday night.

Worst case by middle of Q2 2021 we should finally know our fate.


sholland

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16254 on: November 21, 2020, 04:18:43 PM »
Orthopa,

The exact answer to your question can be found here:

https://twitter.com/holdenwalker99/status/1329448274357608452?s=21

cherzeca

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16255 on: November 21, 2020, 05:34:03 PM »
I got that same feeling. Trying to set the narrative of exactly that

right. Ackerman is too much of a tool not to be used as a tool by C/Mn.

the collins reply brief was due 11/23, filed 11/19.  you almost never see an early filing.  https://www.supremecourt.gov/DocketPDF/19/19-422/161278/20201119155421721_11-19-20%20Collins%20Merits%20Reply.pdf

The article was certainly a trial ballon. This has been telegraphed for essentially years now so not sure why the MBS market would be suprised by this. I dont have access to an instrument to tell by pricing or otherwise if they were or will be "surpised" but I doubt that to be the case. Apparently Sherrod Brown has come out and said he thinks Mnuchin is the worst Treasury Secretary of all time so he wont lose any friends there by doing the PSPA.

Calabria has said that the lawsuits go away with the 4 PSPA and with the timing here that very likely maybe the case. For optics there may not be a "settlement" as much as plaintiffs drop the case no? It would be in their best interest depending what's in the 4th PSPA to preserve Calabria for as long as possible and let his removal play out through the legal system.

Someone please tell me if Im off on this but once there is a 4th PSPA within 30 days FHFA should request recap plan. FnF then have 45 days to respond and in turn FHFA has 60 days to approve. So we are looking out no further then 4.5 months from the PSPA amendment to know the final fate of the Jr Preferred. Hopefully sooner as one has to imagine JPM and MS have been sitting on plans for months and just tweaked it Wednesday night.

Worst case by middle of Q2 2021 we should finally know our fate.

there may very well be some kabuki theater with this process, no settlement (for optics) but T going to scotus and saying collins is moot because 4th A...and if it is to be moot, Ps need to get everything they are asking for...or maybe there is some backchanneling so that Ps will agree case is moot if 4th A does X, but there won't be a formal settlement agreement with Ps.  once a 4thA is agreed to by fhfa and T, then yes fhfa can immediately ask for CRPs, which can be a part of a consent decree.

COBFInfinity

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16256 on: November 22, 2020, 04:41:55 PM »
I got that same feeling. Trying to set the narrative of exactly that

right. Ackerman is too much of a tool not to be used as a tool by C/Mn.

the collins reply brief was due 11/23, filed 11/19.  you almost never see an early filing.  https://www.supremecourt.gov/DocketPDF/19/19-422/161278/20201119155421721_11-19-20%20Collins%20Merits%20Reply.pdf

The article was certainly a trial ballon. This has been telegraphed for essentially years now so not sure why the MBS market would be suprised by this. I dont have access to an instrument to tell by pricing or otherwise if they were or will be "surpised" but I doubt that to be the case. Apparently Sherrod Brown has come out and said he thinks Mnuchin is the worst Treasury Secretary of all time so he wont lose any friends there by doing the PSPA.

Calabria has said that the lawsuits go away with the 4 PSPA and with the timing here that very likely maybe the case. For optics there may not be a "settlement" as much as plaintiffs drop the case no? It would be in their best interest depending what's in the 4th PSPA to preserve Calabria for as long as possible and let his removal play out through the legal system.

Someone please tell me if Im off on this but once there is a 4th PSPA within 30 days FHFA should request recap plan. FnF then have 45 days to respond and in turn FHFA has 60 days to approve. So we are looking out no further then 4.5 months from the PSPA amendment to know the final fate of the Jr Preferred. Hopefully sooner as one has to imagine JPM and MS have been sitting on plans for months and just tweaked it Wednesday night.

Worst case by middle of Q2 2021 we should finally know our fate.

there may very well be some kabuki theater with this process, no settlement (for optics) but T going to scotus and saying collins is moot because 4th A...and if it is to be moot, Ps need to get everything they are asking for...or maybe there is some backchanneling so that Ps will agree case is moot if 4th A does X, but there won't be a formal settlement agreement with Ps.  once a 4thA is agreed to by fhfa and T, then yes fhfa can immediately ask for CRPs, which can be a part of a consent decree.

If the SCOTUS case is not ended, one way or the other, and it is decided that the 3rd amendment needs to be overturned, can someone hostile to GSE recap come along and use the exact same legal arguments to overturn a 4th amendment?

allnatural

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16257 on: November 22, 2020, 04:56:39 PM »
Doubtful because if shareholders win the APA claim in SCOTUS, it would be because the judges ruled that NWS violated HERA as it didnt follow the duties of a conservator. A potential 4th amendment does follow HERA as it would be trying to restore the GSEs to safety and soundness (the opposite of the NWS).

I got that same feeling. Trying to set the narrative of exactly that

right. Ackerman is too much of a tool not to be used as a tool by C/Mn.

the collins reply brief was due 11/23, filed 11/19.  you almost never see an early filing.  https://www.supremecourt.gov/DocketPDF/19/19-422/161278/20201119155421721_11-19-20%20Collins%20Merits%20Reply.pdf

The article was certainly a trial ballon. This has been telegraphed for essentially years now so not sure why the MBS market would be suprised by this. I dont have access to an instrument to tell by pricing or otherwise if they were or will be "surpised" but I doubt that to be the case. Apparently Sherrod Brown has come out and said he thinks Mnuchin is the worst Treasury Secretary of all time so he wont lose any friends there by doing the PSPA.

Calabria has said that the lawsuits go away with the 4 PSPA and with the timing here that very likely maybe the case. For optics there may not be a "settlement" as much as plaintiffs drop the case no? It would be in their best interest depending what's in the 4th PSPA to preserve Calabria for as long as possible and let his removal play out through the legal system.

Someone please tell me if Im off on this but once there is a 4th PSPA within 30 days FHFA should request recap plan. FnF then have 45 days to respond and in turn FHFA has 60 days to approve. So we are looking out no further then 4.5 months from the PSPA amendment to know the final fate of the Jr Preferred. Hopefully sooner as one has to imagine JPM and MS have been sitting on plans for months and just tweaked it Wednesday night.

Worst case by middle of Q2 2021 we should finally know our fate.

there may very well be some kabuki theater with this process, no settlement (for optics) but T going to scotus and saying collins is moot because 4th A...and if it is to be moot, Ps need to get everything they are asking for...or maybe there is some backchanneling so that Ps will agree case is moot if 4th A does X, but there won't be a formal settlement agreement with Ps.  once a 4thA is agreed to by fhfa and T, then yes fhfa can immediately ask for CRPs, which can be a part of a consent decree.

If the SCOTUS case is not ended, one way or the other, and it is decided that the 3rd amendment needs to be overturned, can someone hostile to GSE recap come along and use the exact same legal arguments to overturn a 4th amendment?

typicalvalue

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16258 on: November 23, 2020, 11:21:52 AM »
Seems that PSPA is close. Gasparino:
BREAKING on @FannieMae @FreddieMac $FNMA (1 of 2) ó Housing and economic aides close to @JoeBiden are legitimately worried that @MarkCalabria and @stevenmnuchin1 will enact a GSE reform that will be difficult to unwind by new administration. Itís the reason why they are spreading

(2 of 2) that Mnuchin is jeopardizing his legacy at @USTreasury if he does something that screws up the housing market. Story developing $FMCC

Gregmal

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Re: FNMA and FMCC preferreds. In search of the elusive 10 bagger.
« Reply #16259 on: November 23, 2020, 11:28:46 AM »
Its amazing how these idiots had 4 years to do this and now its a last minute race against time that optically, looks bad....