Fannie Mae (QB) (FNMAH) News

Perhaps we can research who appointed those members that were released. Might be cleaning house to get directors who will vote his way. 

FHFA Has Employed 2,900 Fake Employees! Who Has Been Taking Our Money?!
Federal Housing Finance Agency Director Bill @pulte: "There was about 2,900 people that were supposed to work in the building. 


Federal Housing Finance Agency Director Bill @pulte: "There was about 2,900 people that were supposed to work in the building. Turns out, only 49 were showing up full-time." pic.twitter.com/6vbkfGZgKH— Rapid Response 47 (@RapidResponse47) March 17, 2025

Sounds like Pulte is getting ready to make some moves and is clearing the deck. Excellent.

DJT is pulling the strings   You can bet on that

So you think it's plausible Pulte named himself Chairman of both Fannie and Freddie and is about to release them from conservatorship with the US Government not having exercised warrants and/or converted their senior shares?

If you think it's plausible, I would love to share your # with every stock promoter I know. They'll love you!

I am not shocked because I know that we have been robbed.
That Pulte says that publicly is very respectful.

Could be the start for more questions.
Difficult, now I try to sleep, greets from LA

I avoid Twitter, X, and Laura Ingraham
like the Plague

Unbelievable corruption Pulte is finding.

BIDEN INSIDER CASHES IN.

BILL PULTE: "There was this person that was a Biden insider that got essentially two million in payments over an eight-month period... After eight months, who deserves $2.1 million? This stuff doesn't make sense." pic.twitter.com/eVn3j6pRTz— Laura Ingraham (@IngrahamAngle) March 18, 2025

Check out the summary from my good buddy Snarky. Snarky the Panda Trash.

Made a summary for people new to $FNMA and $FMCC (which includes JPS but I ain't typing all that). https://t.co/lMTtlGR6gX— Snarkytrashpanda (@Snarkytrashpan2) March 18, 2025

Go Fannie Mae - All The Way
Recap of our PPS since Mar 7 which was Day 39 of over $5 when we were at $5.84. Then the next trading Day (Mar 10)) we went BELOW $5 to $4.91, but rebounded swimmingly the next Day (Mar 11) to $5.19 and hit $6.11 on Mar 14...
Mar 17 5.82 9,309,100 (Memo Opinion Re: 8-0 Verdict Release in favor of plaintiffs)
Mar 14 6.11 16,518,200 (Pulte Officially Confirmed as FHFA Director
Mar 13 5.50 5,951,400
Mar 12 5.65 9,589,600
Mar 11 5.19 10,480,900
Mar 10 4.91 16,783,700
Mar 7 5.84 23,007,600

Excellent. These are all the necessary steps required before conservatorship can be ended. Eliminate all the fraud abuse and waste. Drain the swamp once and for all. Get rid of the swamp rats.

I love it. Pulte is the best. Cleaning house. Drain the swamp. Lining up all the ducks in an orderly fashion. And then once the time comes in one swift move knock them all down.

Only release is correct.

The Lamberth link claims holders of FMCC
will get 76 cents per share as a result
of the 8-0 Jury Verdict - It was done by GROK

DEI is Dead at Fannie Mae & Freddie Mac

declares Bill Pulte ! - I Love it ❤️

DEI is Dead at Fannie Mae & Freddie Mac declares Bill Pulte ! I Love it ! ❤️ https://t.co/v5FGLKd22q— Cmdr Ron Luhmann (@usnavycmdr) March 18, 2025

https://www.foxnews.com/video/6370169394112

You have zero clue & no idea what is

going to take place ... so STOP the Lies !

I think a reasonably fair conclusion to draw from the new FnF boards is that the max upside scenario of no sps conversion and no warrant exercise is off the table. That leaves best upside scenario in my estimates at $35-40 per share. Still an incredible outcome, but weighted average likely solutions now around $10 in my opinion.

Still hopeful investor!

Fannie, Freddie board members ousted in sudden, surprising move

New FHFA head appoints himself as chairman of both the government-sponsored enterprise
Late Monday, regulatory filings showed that Pulte ousted 14 board members at the two companies and appointed himself as chairman. He also named replacements for some of the board members who were removed. No reasons were given for the firings.
Jim Davis - March 17, 2025

https://www.scotsmanguide.com/news/fannie-freddie-board-members-ousted-in-sudden-surprising-move/

Mortgage, Regulations and Compliance
Bill Pulte wasted no time making seismic changes at Fannie Mae and Freddie Mac. Pulte won Senate confirmation last week as the new director of the Federal Housing Finance Agency (FHFA), which oversees the government-sponsored enterprises.

Late Monday, regulatory filings showed that Pulte ousted 14 board members at the two companies and appointed himself as chairman. He also named replacements for some of the board members who were removed. No reasons were given for the firings.

Pulte made a post on X on Saturday that read: “Make Mortgages Great Again.”

The Wall Street Journal reported that the board members removed from Fannie were: Amy Alving, Christopher Brummer, Michael Heid, Simon Johnson, Diane Lye, Diane Nordin, Chetlur Ragavan and Michael Seelig.

Four new board members were appointed to Fannie including Pulte, FHFA general counsel Clinton Jones, Christopher Stanley and Michael Stucky.

The board members removed from Freddie were Kevin Chavers, Lance Drummond, Luke Hayden, Allan Merrill, Jane Prokop and Roy Swan. The new board members were Brandon Hamara, Clinton Jones and Ralph “Cody” Kittle along with Pulte.

The Senate confirmed Pulte as director of the FHFA on Thursday by a vote of 56-43. Pulte succeeds Biden administration appointee Sandra L. Thompson as head of the agency.

The new FHFA head is the founder of private equity firm Pulte Capital Partners. He is the grandson of William J. Pulte, founder of home construction giant PulteGroup.

It is hard to be patient after all these years, but Pulte has to do his own due diligence.
So, he fixed the boards. Now a new stress test. He is on his way.
Hopefully he will not go for another period of comments. That has been done several times already.

Go FNF.

It is hard to be patient after all these years, but Pulte has to do his own due diligence.
So, he fixed the boards. Now a new stress test. He is on his way.
Hopefully he will not go for another period of comments. That has been done several times already.

Go FNF.

Fannie Mae - All The Way - Freddie Mac - Load Up and Don't Look Back
Re: Lamberth 8-0 Jury Verdict - Estimates PPS for Award
https://groups.google.com/g/fannie-and-freddie-preferreds/c/pqn2eS34KGw

Re: PPS Projections (message near bottom of page)
https://groups.google.com/g/fannie-and-freddie-preferreds/c/lgBFkl-WqVA

Confucius has proclaimed!

Hopeful Investor likely to eat bird’s nest soup for many years!

But I still love the pumpers! Bring it

To hades I suppose.

Gap down in the morning, how far will it go.?

3Fiddy by Friday, maybe 2Fiddy..chipulteballis ain’t gonn help us !
Just like shampooch and calabria did nothing, all talk but never mention release! Trump don’t either.going down in the elevator until we hit the ground. Great song

https://fanniemae.gcs-web.com/node/44646/html

That’s what it means for sure, 360 turn around for the worse

Yes correct. Agreed. Easily 1 year away

Gosh, sad that this thing went down today- Fannie always disappointing me.

Musk ally Doge member to Fannie-Mae Board

That's really gonna rock that place.

https://finance.yahoo.com/news/musk-ally-doge-member-stanley-013902235.html

Makes perfect sense. That board member from SpaceX is probably one of those astronauts. After all we are headed to the moon.

One of the new board members is from SpaceX.

Why does iHub put   in front of posts ? Oh never mind I just figured it out. It means $160 is on deck.

 $7 by Friday.

These have got to be the most interesting stocks that many of us have ever and will ever own. Each day is like watching some kind of soap opera. I just hope some of us don't have a heart attack or we may end up in General Hospital.

I went to the Safeway this evening and bought some popcorn so I can be ready for the circus tomorrow.

I had to do a triple-take when I saw the news about Pulte installing himself as CEO of both companies.

Technically it doesn't matter that much while FnF are in conservatorship because the FHFA director has always given the CEOs marching orders, but I guess Pulte wants a much more direct approach.

I hope you got industrial quantities of popcorn. I think you will need it.

Can it be Pulte looking out for governments interest - even if that clashes with the interest of common shareholders????

The Supreme Court already said that the FHFA director, as conservator, can ignore the interests of the companies (and shareholders) if it decides something is in the agency's best interest even if it means stripping FnF of all their net worth forever (the NWS). Hardly a good precedent for shareholders.

Other courts have also said that FHFA has no fiduciary duty to shareholders. Judge Sweeney's quote was the most stark:

That statement reflects a clear intent: the FHFA-C does not owe a fiduciary duty to shareholders because the conservator is not required to consider shareholders’ interests.

Note: FHFA-C means FHFA acting as a conservator, as opposed to regulator.

It's hard for me to get a read on how Treasury putting its FnF stake into a SWF would affect current shareholders, either common or preferred. There are many ways to structure it.

Putting shares into a SWF does seem to run counter to the idea of ending government control, though. Perhaps Treasury would just get whatever 80-95% common stake they would have gotten without a SWF and put those shares in, collecting dividends on them and setting up some abrogation of their voting rights (like with AIG) so that the companies can be quasi-private.

To me it's an unnecessarily complicated way for Treasury to monetize its equity stake.

In what world are juniors "cancelled" but existing commons have a value >$0.00? And please do explain what you mean by canceled?

I have already written this post, and this other one as a follow-up, regarding this same stupid argument (that the juniors can be wiped at all, let alone without the commons also going to zero). It's just schadenfreude-fueled wishful thinking.

Isn't this the who's who of who hate us?

Not really. Three of them are recent CEOs of FnF and the fourth has been bearish on recap/release but not a hater.

The haters are clowns like Parrott, Zandi, Carney, and Whalen. Especially Whalen.

The contract to protect trade secrets remains intact, as changing it was not part of the remedy. You promise to pay the $1M. You then go to China and sell the same secret to them, and then go to India to sell the same secret to them.

This isn't a good analogy for the NWS. The NWS gave away all shareholder economic rights permanently. A closer analogy would be if the "you" here had posted all of the company's trade secrets on the internet, making it impossible to ever sell again.

If the harm really was "removing all future sales & profits of that product by our company" then those trade secrets would be worthless to anyone past the first buyer.

So further breaching our contract is perfectly fine?

In the case of the NWS, further breaching of the implied covenant is not possible because the NWS reset reasonable shareholder expectations to "you get nothing forever". It literally cannot get worse than that.

the haters on this board will argue the FHFA is a separate entity from the Treasury

That is a factually correct statement.

So, Treasury did nothing wrong.

You need to be more specific here. The jury didn't find Treasury to have done anything wrong because Treasury was not a defendant.

Yet, both agencies’ head, FHFA Director and the Secretary of Treasury, are appointed by the President and confirmed by the Senate, two government agencies in collusion committed fraudulent harm against the Shareholders.

"Collusion" and "fraudulent harm" are your words. The jury did NOT rule that either of those happened.

That's funny. So you provide an example that is close to your prediction and that's evidence of your point?

Wrong again. You misunderstood my point, which was that your claim that none of my predictions are likely to be exactly correct is meaningless.

I'm pretty sure if someone provided an example that was close to their scenario of LP being written down, you would NOT accept that as being more important than providing factual calculations, probability estimates based on what almost happened in 2019, or some quote in a book, filing a lawsuit, or something more than just directional.

Neither would I accept that from myself. I have provided ample reasoning and evidence to support my price targets. They are not at all just pulled from thin air.

If someone else can provide similarly rigorous and reasonable arguments for a LP writedown then I will give them serious thought. I have yet to see any, however.

Look, it's pretty clear that you don't understand why people hold this investment, particularly commons. Sometimes it's more than the money, it's the principle of things.

Oh I understand the principles-based "strategy". I just think it's a terrible way to try and make money. Betting on the government to "do the right thing" has been disastrously wrong so far with FnF.

This is exactly why one of the two lines in my Twitter bio is "Righteous indignation is a poor investment thesis."

And we're not talking about "people" here. Only you. I'm not on a high-horse here. I'm simply pointing out that your words (only wanting to make money compared to your cost basis) do not jive with your actions (continuing to hold shares even though you could lock in a gain by selling everything). Hypocrisy, plain as day.

Key word is discussion, not dictatorship.

I don't have the power to dictate things on this board. People, such as you, are free to demonstrate their hypocrisy at any time.

Well now that the jury verdict is entered as final judgement, we don't need to rely on the shareholder's opinion of the validity or legality, do we?

The "shareholders' opinion of validity or legality" never mattered with respect to the implied covenant.

It was Lamberth who ruled that the plaintiffs brought a reasonable claim that the NWS violated reasonable shareholder expectations (and thus the implied covenant), which is why the case proceeded to trial, and the jury that decided that the implied covenant really was violated.

It's now clear that the NWS violated the shareholder agreement.

It only violated the implied covenant of good faith and fair dealing. Lamberth dismissed all the other claims, including breach of contract.

Meaning if the contract gives away shareholder rights, the contract is in breach

Again, breach of contract is not at all the same thing as breach of the implied covenant of good faith and fair dealing. Stop conflating them.

The jury decided that the NWS, which removed all economic rights from FnF's shares, did breach the implied covenant. But the only thing they awarded was money. They didn't alter or nullify or invalidate a single letter of any contract or amendment. That means they found that the money damages were full compensation for the implied covenant breach.

Shareholders have a reasonable expectation that the shareholder agreement will not be violated in the future.

The NWS violated reasonable shareholder expectations about as much as is humanly possible to do, and the only thing shareholders got out of it was $812M plus post-judgement interest.

After the NWS was signed, reasonable shareholder expectations got reset to "shareholders get nothing ever". How is that even possible to violate?

It's complete nonsense.

What's nonsense is your total mischaracterizations and exaggerations of what I post.

Yet again, queen of technicalities.

Which means that your accusation of hypocrisy is unfounded. I've seen better admissions of being wrong, but I'll take this one.

Word choice aside, what were you implying in that statement?

That you have no grounds on which to criticize my share price model without posting your own. Stones and glass houses, as it were.

I do not NEED to do anything.

You do if you don't want to be seen as a hypocrite. Then again, you have demonstrated your hypocrisy on so many occasions that it clearly doesn't bother you.

Answered in this post.

Those numbers assume that the damages are pro rata to the par value of the preferred shares. I don't think that was specified in the verdict or final order though.

FMCC holders will get about 5 cents per share (plus post-judgment interest), and FNMA holders nothing because they weren't part of the class.

Obviously not a fkn enough! I think they didn’t discontinue their beta blockers 24 hrs prior to any of the stress test. Lol

I’m long , stuck. No matter the post , tweets , retweets , votes, confirmations, X post or who skn who’s cak! This shiitake is tanking and it will be worse tomorrow!
Post that shiitake on X and retweet to pulteless balls. To da fkn moon we ain’t going anytime soon.
3Fiddy by Friday!