Wise Man
13 minutes ago
"The numbers of Fannie Mae lie". The Fannie Mae CEO is called out in Linkedln on her stance about Fannie Mae building capital through retained earnings, based on the Financial Statement fraud in both FnF that are reluctant to post the SPS LP increased for free brought to you by the Trump Administration, and its offset with reduction of Retained Earnings account, which is the same that happened with the initial $1B SPS LP issued for free on day one of conservatorship.
Fannie Mae CEO:"Fannie Mae continues to reduce its capital shortfall as disclosed in our recent Enterprise Regulatory Capital Framework disclosures. These charts help explain why:"
https://www.linkedin.com/posts/priscilla-almodovar_fannie-mae-continues-to-reduce-its-capital-activity-7229216984591204353-apyK
The $86.4B Net Worth has been built with the $86.4B SPS LP that is missing on the Consolidated Balance Sheets, and thus, Fannie Mae is not reducing the capital shortfall that should have begun on day one, in what is commonly known as Financial Rehabilitation.
SPS LP increased for free, a capital distribution number 1 in the statutory definition, restricted. That's the key. The existence of a Separate Account plan through the exceptions in order to legalize it, like occurred with the dividend payments, and carried out thanks to the FHFA-C's Incidental Power:"......in the best interests of FHFA", already seen in the 1989 bailout of the FHLB, section entitled: SEPARATE ACCOUNT TO ENSURE THE REPAYMENT OF PRINCIPAL, and where the Treasury Department was involved in calculating the discount rate and receiving the funds (invested in zero coupon Treasuries).
We don't want to violate the law, do we?
Read the comments section in her post of LinkedIn.
By the way, the "transition from portfolio-driven to guaranty-driven business", refers to their Investments Porfolios filled with unlawful PLMBS that had to be wound down 10% per year, then 15%, as part of the plan of winding down all their privileges, like this portfolio funded with low cost bonds thanks to the UST backup of FnF, advantages in capital standards, in guarantee fees (called subsidy cost by the CBO), in taxes, etc., as explained by the UST in its 2011 Report to Congress, that ends up with the Charter Act repealed (Privatization) to remove the most valuable privilege of all: the UST backup of FnF at rates similar to Treasuries.
PLMBS was a security illegal in the Charter Act Credit Enhancement clause because it lacked one of the enumerated Credit Enhancement operations authorized. Just a small portion had bond insurance (utilized nowadays by Freddie Mae with the ACIS).
This is the reason why we are requesting a refund of the CRT expenses, $20B, net between expenses and recoveries.
THE ART OF DECEPTION.
TightCoil
2 hours ago
Ten Day Review Fannie Commons
Date - Low - Close - Volume
Aug 16 - 1.20 - 1.23 - 2,040,700
Aug 15 - 1.09 - 1.20 - 2,326,900
Aug 14 - 1.08 - 1.10 - 1,571,100
Aug 13 - 1.09 - 1.10 - 1,534,600
Aug 12 - 1.12 - 1.12 - 1,027,800
Aug 9 - 1.07 - 1.15 - 1,444,100
Aug 8 - 1.09 - 1.11 - 2,994,700
Aug 7 - 1.12 - 1.12 - 2,836,900
Aug 6 - 1.06 - 1.17 - 5,731,400
Aug 5 - 1.02 - 1.04 - 6,708,100
TightCoil
7 hours ago
FNMA/FMCC - From Inside Mortgage Finance - Aug. 14
FHFA’s IT security HAS NOT BEEN in compliance with the Federal Information Security Modernization Act
IG Finds Major Hoes in FHFA’s IT System
The security controls intended to protect the information technology infrastructure of the Federal Housing Finance Agency are shockingly vulnerable to unauthorized access and compromise from internal threats, according to an audit report released this week by the agency’s Office of Inspector General.
FHFA’s system hosts sensitive financial data from Fannie Mae, Freddie Mac, Common Securitizations Solutions, the Federal Home Loan Banks and the FHLBanks’ Office of Finance. It is also the home of the personally identifiable information of about 800 FHFA employees.
Auditors were able to use a basic FHFA-issued laptop and a standard employee user account to gain access to restricted personally identifiable information on the agency network. They were then able to use standard hacking methods to acquire the passwords of other users, including two employees in the Office of Technology and Information Management who were still using their initial default passwords.
In all, the OIG audit identified 178 agency employees using default passwords.
Via these accounts, the auditors were able to access and alter files on any user’s computer, “including those of FHFA executives at the highest level.” Access to a privileged account allowed the OIG team to gain full control over the FHFA network. In addition, auditors were able to transfer sensitive information to their own computers and attach an unauthorized device to the system without detection.
The OIG report includes 22 specific recommendations to bring the FHFA’s IT security into compliance with the Federal Information Security Modernization Act. The agency agreed with all those recommendations.
I have more recommendations:
Fire Thompson
Fire Yellen
End The Conservatorship
Provide Reparations to Fannie and Freddie Shareholder
jog49
9 hours ago
"$1.21 $1.22 $1.21 $1.22 $1.21 $1.22 $1.21 $1.22 … yawn"
Does it remind you of a wall clock . . tick, tock, tick, tock? What it is, to the lay person, is the passage of time where Fannie and Freddie never get released from their dreaded conservatorships. Tick, tock, tick, tock . . . . . . . . . .
trunkmonk
16 hours ago
stock must have gone up yesterday, the spawn of KTCarneyPOScircusBSclown came this morning. they figure they can influence price or people.😆🤣😂 If they only knew how dumb and dark they look🤡, they are unwise and do not understand. 🤡
of course price did go up, as i see, but of coarse it usually goes down after a nice bump like yesterday, so even a tard can look good when saying or pretending to make it go down.
Wise Man
19 hours ago
FnF reported the Stress Test to FHFA and the Federal Reserve Board (FRB) on May 20 (12 CFR § 1238.5 (a)), as required in the Dodd-Frank law.
What happened yesterday is that FHFA waived another requirement about the publication online of a summary (12 CFR § 1238.7(a)), with a deadline of August 15th. In other words, FnF has to disclose publicly a summary of the report, but the law doesn't specify when.
Never underestimate the FHFA's Zing! power, during Conservatorship (FHFA-C's Incidental Power) and outside, like yesterday.
Both the FHFA and the Federal Reserve are in deep trouble.
ROGUE @FHFA STRIKES AGAIN
Financial Services Cmte waived the 2024 annual testimony of ST after realizing she tricked'em into believing NW is what has to meet the capital requirement.
What the Stress Test is about:"NW,weee!"
Dodd-Frank:"Publication"
It doesn't say when.#Fanniegate https://t.co/bBv9nAqmd1 pic.twitter.com/5rZ0IiSr9V— Conservatives against Trump (@CarlosVignote) August 16, 2024