Fannie Mae (QB) (FNMAN) Quote

Ask: Does HawkEye Buffett know something
about Fannie and Freddie that we don't know.
And is he preparing to do something shocking?

Amazing info

Thank you Navy!

Someone please send to
Bessent
Pulte
POTUS
Elon and doge
Etc

Really good stuff

Everyone should listen

Great post. Disclosure I purchased MGIC about 15 years ago at $1-2 a boat load really. I still own them. Current price $24. I will hold on to them. I do not think PMI is going away anytime soon.

I agree. It really is mind blowing. This Jensen guy just nailed it. He shorted the housing market in 2006 because he saw it coming. And he was just dying to nail Zandi and call him out on his lies and personal agenda. Then he said the reverse of the Big Short is about to take place. I suspect his firm owns millions and millions of shares.

Mind blowing - Must listen, at least 2X

Very nice. This is our man. Well figuratively speaking of course. Not romantically.

https://x.com/SenLummis/status/1890847799555526929

The idea is to attract and educate new investors. Sure we knew all this but most people 99% including journalists do NOT know this stuff. Even though this video was beyond excellent I worry it was still too complicated for your average investor. Make no mistake this stock is very complicated to understand for most people. With that said I believe the small pop we had on Friday afternoon around 2:30 pm EST was due to this video release. That means a lot of institutional investors and Hedge Funds will listen to this video over the weekend. I would not be surprised to see $8 print on Tuesday.

My biggest take away from the video was the opportunity for a lot more building and more qualifying home buyers via freeing up the Twins after the Govt gets the boot off of our " necks". This has to have both pulte and trump chomping to build baby build. Nothing stirs up an economy more than homes being built and bought. It just stimulates the economy from A to Z. Everything else they talked about I knew as I'm sure most longs would by now.

Great podcast. It does sum up the entire situation extremely well. BUT ... who is Keith Jensen? I can't find him online.

My biggest take away from the video was the opportunity for a lot more building and more qualifying home buyers via freeing up the Twins after the Govt gets the boot off of our " necks". This has to have both pulte and trump chomping to build baby build. Nothing stirs up an economy more than homes being built and bought. It just stimulates the economy from A to Z. Everything else they talked about I knew as I'm sure most longs would by now.

That’s why we need the Senior preferred and ligation preference canceled and deemed repaid!

For those wondering how the Treasury calculates the value of the warrants, it's a) in the warrant agreement and b) Treasury's Warrant Repurchase Plan. It's the average closing price for the prior 20 trading days. The warrant agreements are in FHFA and Treasury's websites, but I am unable to post the PDF links. Attaching the Repurchase Plan:

https://home.treasury.gov/news/press-releases/200962612255225533

https://x.com/markcalabria/status/1891197440390316063?s=46

Navy has posted the letter many times on her and X.

The government has lost. Little by little the truth is coming out.
USG better correct this matter soon before all the misdeeds hit the headlines.
Geithner and DeMarco should be in jail.

I say modestly, remember it was The TightCoil who posted several times, that the real purpose(s) behind the C-Ship, may have been to shield certain board members and directors from a derivative suit against them (in the name of F and F) by Shareholders, for a multitude of wong-doings, which we now know caused financial devastation to those Fannie and Freddie Shareholders It served the purpose of shielding those guys for wong-doings in the past, as well as now protects them for the future. That is until SuperCoil comes to town.

Yep, Jan 15th 2025 FNMA hit $7.80, highest since many, many years
Let's see $8+ by Friday !!

Here's a bundle of that! (A response to NEO on the other board.)
Sunday, February 16, 2025 6:46:44 PM

I just listened to the YouTube clip it, NEO, and YOU ARE RIGHT. It destroys the current arguments the MI's, Zandi, the MBA, the Urban Institute, and others are making who oppose ending Fannie and Freddie C-Ship.
The more who understand efforts to maintain their opposition, the better for shareholders.

u]www.youtube.com/watch?v=gnZzwzew7Sc

EVERYONE should listen to this podcast. It sums up EVERYTHING about F&F of how and why they hav been put into a fraudulent CONservatorship; and why a Release is IMMINENT during the first 100 days of Trump admin. 

Special THANKS to Navy! 

My next door neighbor is a Fannie/Freddie Basher for Cash
and just sent me the following

I asked ChatGPT... Is Fannie Mae headed for the NYSE relisting?

Answer: As of February 16, 2025, there is no official confirmation that Fannie Mae (FNMA) is set to relist on the New York Stock Exchange (NYSE). In January 2025, the U.S. Treasury Department and the Federal Housing Finance Agency (FHFA) announced a framework for the "orderly" release of Fannie Mae and Freddie Mac from conservatorship, indicating potential privatization. However, this does not guarantee an immediate relisting on the NYSE.
reuters.com
Investor Bill Ackman has speculated that Fannie Mae and Freddie Mac could exit conservatorship within the next two years, with possible public listings around 2026.
While these developments suggest a potential path toward privatization and relisting, no definitive timeline has been established. The process involves complex regulatory and legislative steps, and any decision to relist would require approval from the relevant authorities.
His name is Clark.

Fannie / Freddie headed to new 52's
both only need .71 next week !

Back to yer Bingo game & Oatmeal ...

You’re welcome,

As I think of it - going back 25 years (as I started Career #2) the explicit guarantee v not explicit was part of the study course for my Series 7 license.
And yet you've told your clients that while Fannie's MBS don't have an explicit guarantee, they will still be paid out by the government? 😁 You weren't and aren't the only one. This is still the case. The beginning of the moral hazard chain. 🤔
Calabria wanted to counter moral hazard with extremely high capital requirements. But I don't think you can get this way of thinking out of the heads of those involved as long as Fannie has its charter and is “government sponsored”. There is nothing wrong with lowering the capital rule.
Re SP I call it an obligation as it is EQUITY not debt - but I think the GOV can call it or convert it or ? --- so its not like normal equity ?
You can call it an obligation to fulfill the mandate.
SPS is normal equity as shown in the shareholder‘s equity. Depending on their certificate redeeming or converting is a viable option.
Yes - I do hope that the new head of FHFA lowers those (statutory) a ton.
I am sure you meant (regulatory).
I also think the JPS count differently towards Statutory v Regulatory for reasons well beyond me
Regarding statutory, perpetual non-cumulative preferred shares are one component alongside retained earnings, paid-in capital and common shares.

With regard to regulatory, the situation has been different since Calabria's Capital Rule. This is because Calabria introduced bank-like capital requirements, such as CET1. This does not include preferred shares. Calabria followed the trend after the financial crisis, which sought to prove with several studies that the higher the proportion of common shares and retained earnings, the more securely positioned companies are. But when I look at Fannie's capital structure and the conditions for conservatorship and receivership, I think this introduction of CET1 is nonsense. But who am I to decide such things.

In any case, this CET1 increases the likelihood that the JPS will be converted into commons so that their value also counts towards CET1. However, it is interesting that Calabria provided a value for the JPS in his capital rule that pretty much reflects the current value of the JPS. Conversion is therefore not strictly necessary.
I think that Pulte will get rid of the CET1 requirement.

Not many postings today, everyone must be out
raising some extra do-ra-me picking up shopping
carts from Kroger and Safeway so they can afford
a few more of these HOTCAKES

🧿🤔🫵🫢

very nice post...

just like to add cap retained total is now 155 Billion, I know your total was from before earnings
-also both making 29 billion per year and increasing

go FnF

I can't give thumbs up and limited to 1 post

I mentioned in a posting yesterday that
this great news we're expecting might
not be in the form of one Big story, but in a accumulation of several smaller, less attention-grabbing stories that will ADD UP to to a big jaw-dropper

why should that matter? they have done their homework and well. do you think zandu, parakeet, whale have better credibility? no.
i am not sure why you keep posting nonstop nonsense. all these years you have been justifying previous admin's loot and their net worth sweep and you continue to badger the current admin in a subtle way. it's all still there to look at. it is obvious to me and sure to others. i often doubt your intentions and if you even hold one share. if you hold some shares and don't like what is going on, move on please. i haven't seen you posting one iota of positive news or posting a link or criticizing fellow travelers or zandy or parakeet or mba who are resisting the release. show me one.

When did 45 write to the court ?

I know post Presidency DJT signed a letter to Rand Paul or ?

Real Estate Coaches ?

I agree --- but those sugarcoated dreams have moved FNMA from $1.16 or so to $7 in about 3 months ----- so there may be fire behind the smoke - tons of shares purchased say so

Hey
Thank you

As I think of it - going back 25 years (as I started Career #2) the explicit guarantee v not explicit was part of the study course for my Series 7 license.

Re SP I call it an obligation as it is EQUITY not debt - but I think the GOV can call it or convert it or ? --- so its not like normal equity ?

Thank you for that distinction not made here often enough

Statutory Minimum Capital --- versus ---- the Calabria/DJT regulatory minimum Capital

Yes - I do hope that the new head of FHFA lowers those (statutory) a ton. My preference - as often expressed is that the LP and SP "equity- obligation" be wiped out entirely by Treasury declaring them paid via the 300B (or use of warrants or whatever)

I also think the JPS count differently towards Statutory v Regulatory for reasons well beyond me

So pray tell, what is this news that's going to make Tuesday something other than just another day?

Holy grail? Just regurgitating the same thing we already know. Recycled news that is meaningless to uplist or release possibility.

Perhaps posting same Ole story passes this time before bingo lessons, but isn't woth anything more. The same story has been posted twice in less than 5 hours

Good luck my GSE Family

Thanks for summarizing. My recollection is that he said that they were ready to end the sweep, but someone higher up insisted it continue. The only two people above Mnuchin would be Trump himself or possibly Larry Kudlow. Any other names?

Bill Pulte is soon to be Fannie / Freedie

Conservator & FHFA Director ! He only needs

to request NYSE uplisting ! Super Nova !

Making the rounds in Congress !

Are you doing double duty:
Activate Agent Big Balls
With Elon Musk's team at DOGE - including a gent who goes by the name "Big Balls" - investigating government-wide waste, fraud and abuse, we thought it might be helpful to point them towards Fort Knox
You have enough to do with the GSEs needing your set, got enough whale balls to take on Ft. Knox. Lol
Fnma

Ackman Peshimv square update- FNMA 2/11/25

Fannie Mae ("FNMA") and Freddie Mac ("FMCC")
A FannieMae
•Macdie
Fannie and Freddie appreciated sharply in 2024 as President Trump's victory increased their probability of exiting conservatorship
President Trump has publicly committed to privatizing Fannie and Freddie
• Meaningful progress was made during President Trump's first term
• Net worth sweep suspended by Secretary Mnuchin in January 2021
• The GSEs now have a combined net worth of $147bn, up from effectively zero prior to President Trump, due to earnings retention facilitated by this suspension
• We believe there is a clear path for Fannie and Freddie to become fully recapitalized and exit conservatorship within the next two years
Recent appointees likely support releasing the GSEs from conservatorship
• Treasury Secretary Scott Bessent believes conservatorship should be temporary
• Privatizing the GSEs is one of HUD Secretary Scott Turner's priorities
• FHFA Director nominee Bill Pulte to focus on executing the President's agenda Craig Phillips, former counselor to Secretary Mnuchin and advocate for releasing the GSEs, hired by Freddie as EVP of Corporate Strategy and External Affairs
As discussed in our January 16th presentation, "The Art of the Deal", we believe the likely privatization path will result in 5x to 6x upside for FNMA and FMCC shares in two to three years
Source: Company filings. This slide contains Pershing Square's own views and opinions, based on publicly available information, to illustrate Pershing

Long before that...it's been toothless since inception.

Tuesday may be a wild day upwards. Good news coming from different directions.

The SEC is broken. It hasn't functioned since 2008!

You are so right Navy!
YOU ARE A ROCK STAR!

Thank you for everything that you continue to do for this community.
I would NOT have made the progress that I've made in this investment without your help.


Michael 

I had a hour long drive today and decided to listen to the old Craig Philips interview from 2021 with Tim Rood in detail.. A few observations he shared was little surprising .. Quoting him near verbatim to the closest possible extent

- Mnuchin told him the weekend of taking that job, if you and me cannot get them out of exit, nobody can
- Mnuchin was also of the same opinion that they badly need to retain capital and the sweep has to stop
- Mel watt was also on the same page with them, in terms of sweep to end and how they can retain capital
- Did not have too much on Calabria, since there was not an overlap of major sorts,
- Was even offering some suggestions to Obama team during transition and the recommendations were, its political, but we will take the heat (May be it was to Biden team i forgot, and its a non political impact to them)
- Had they did the sweep stop in year 1, they would have surely released them in year 4 with few offerings.. golden chance missed..
Many such interesting facts that he shared... He did say, few things got in the way... Tax was the highest priority (just like this time), Covid, Mid terms, Jan 6th. And lot of good insights..

I think Freddie getting him was a super smart move

I read twice. Everything he said is true and common sense.

Really the best of the best!

Wrong again, FHFA has always been needed to be on board with release. Go back and read 45’s letter to the court again.

EXACTLY!

Actions speak louder than words. And that' s precisely why in 2023 the 5th Circuit Enbanc gave no credence to his letter to Rand Paul.

we should write to mgic board of directors and that they need to let sec know of such lobbying efforts by zundu

This is just huge.  For sure $8 this week.

Oh wow I just listened to the first 15 minutes.  This is huge.  This is our smoking gun.  Unbelievable information.  The video needs to be spread on a viral basis.  They just toasted Zandi.  Busted.  Everyone repost especially to the news media.  Diana Orlick.  Carney is finished.  I will go on X later tonight after work.

"Trump DIDN'T STOP NWS. He looted $45 billion of their equity. NWS was halted by 5th Circuit Enbanc."

That's my recollection too. I keep reading about Trump's "plan" to release Fannie and Freddie.
What plan? As far as I know, there isn't any plan; only the sugarcoated dreams of some shareholders.

Hi Donotunderstand,

what you described is exactly the meaning of an „implicit government guarantee“:
… telling clients it was not guaranteed DIRECTLY but IMO GOV would not let them fail.
Ginnie Mae securities are fully backed by the government - exactly how you described it.
But, btw, their securities are a type of mortgage backed securities (MBS).

Let me answer your previous question:
Question

That 94.7B reserves ----- how does it treat the 200B that Treasury says F and F owes them ?
VERY serious question
Fannie and Freddie do not owe the Treasury any money. The 200 billion dollars refers to the value of the SPS. These are on Fannie's and Freddie's books under shareholder's equity. Therefore, they are included in net worth. So the net worth of Fannie is 94.7 billion dollars including the SPS.
However, the SPS are not included in core capital as they are cumulative. Cumulative preferred shares are entitled to receive defaulted dividends at a later date once the companies have sufficient capital. Due to this feature, it is generally standard practice not to include these shares in core capital. However, core capital is crucial for compliance with capital requirements.
This is the reason why Fannie has a positive net worth, but at the same time a negative core capital. In order for the SPS to count as core capital, they must either be modified to non-cumulative, converted to common stock, or simply canceled so that their value is transferred to retained earnings, which count as core capital.
As long as none of that happens, Fannie is not about 20 billion dollars short of meeting its statutory minimum capital requirements, but about 140 billion dollars.

But there are also the regulatory capital requirements that the FHFA has set: once under Watt, and most recently under Calabria. These are significantly higher and must also be met by Fannie. But there is good reason to hope that the new head of the FHFA will lower these requirements significantly and bring them close to the statutory requirements.

I posted the Youtube Fannie Freddie Video all over X

https://www.youtube.com/watch?v=gnZzwzew7Sc

and even on Tim Howard GSE Blog - Tim replied that

he would approve the Video for his subscribers !

spread it far and WIDE - Tuesday should be an EPIC Day !

just click on the Fannie/Freddie Youtube logo --- when video opens just copy

the subject line Link at the top ... easy peazy

https://www.youtube.com/watch?v=gnZzwzew7Sc

if you want to post an IHUB Youtube video :

copy the letters & numbers after the v= gnZzwzew7Sc

and post them between yt & /yt put yt & /yt inside these brackets [ ] [ ]