nobody knows when this is going to pop----a poster on Ihub was swearing that it was gonna be may or June....Almost august and here we are------it could pop any day with the right news
They've backed themselves into a corner----they're trying to find a way out....hopefully the only way out will be release and relist---thank god for the lawsuits and the hedges that were smart enough to bring them ...and judge Mary
The govt's back is against the wall the the BIG funds that are invested here. They're stuck and the ONLY way out now is release and restore
THe government cannot be trusted to do the right thing, thus it was necessary to sue-----are you crazy?
“FHFA cannot evade judicial review simply by invoking its authority as conservator.”
With respect to defendant’s claim that the court lacks the authority to affect the exercise
of the FHFA’s powers or functions, the court agrees with the case law of the United States Court
of Appeals for the Ninth Circuit, which states that the “FHFA cannot evade judicial review
. . . simply by invoking its authority as conservator.” County of Sonoma v. Fed. Hous. Fin.
Agency, 710 F.3d 987, 994 (9th Cir. 2013); Leon County v. Fed. Hous. Fin. Agency, 700 F.3d
1273, 1278 (11th Cir. 2012) (“The FHFA cannot evade judicial scrutiny by merely labeling its
actions with a conservator stamp.”). Thus, rather than turning a blind eye to a case and
immediately dismissing it from its docket merely because the case concerns the FHFA, the
proper approach is for a court to examine the factual underpinnings and legal contentions
presented by the complaint, in order to determine whether the exercise of its jurisdiction is
proper. County of Sonoma, 710 F.3d at 994 (“Analysis of any challenged action is necessary to
determine whether the action falls within the broad, but not infinite, conservator authority.”).
Indeed, “Congress did not intend that the nature of the FHFA’s actions would be determined
based upon the FHFA’s self-declarations . . . .” Leon County, 700 F.3d at 1278. For purposes of
the instant motion, there is no request by plaintiffs that would potentially restrain or affect the
exercise of powers or functions of the FHFA as conservator. Consequently, blanket assertions
concerning the court’s ability to conduct these proceedings, especially as they pertain to a
discovery matter related to the question of jurisdiction, hold no merit.
The court next turns to defendant’s arguments regarding the deliberative process
privilege, a subset of the executive privilege, which protects “documents reflecting advisory
I heard a prominent guy on a Tim Howard webcast cast say that it could be as little as a few weeks====SO THERE
Fannie-Freddie propose liquidity rules for mortgage insurers
Posted on July 12, 2014, Saturday
Radian Group Inc and MGIC Investment Corp are among mortgage insurers that would fall short of new financial-strength rules proposed by the Federal Housing Finance Agency.
Radian said it would need about US$850 million to meet the standard now and expects to be able to comply within a two-year transition period allowed under the rules.
Milwaukee-based MGIC didn’t provide a figure and said it faced a ‘material shortfall.’
Genworth Financial Inc. said that it may need as much as US$550 million at its mortgage insurer by June 30, 2015, to meet the standards.
US regulators are seeking to stiffen standards for mortgage insurers that want to back loans sold to Fannie Mae and Freddie Mac to prevent a repeat of the losses the government-backed firms faced in the 2008 financial crisis.
Radian and MGIC said the rules are too stringent and could make it more difficult for borrowers to afford homes.
“These guidelines create capital requirements that have the potential of shrinking access to the very segments of borrowers that we believe the government wants to expand homeownership for,” Radian chief executive officer S A Ibrahim said in an interview.
“They are going to be worst hit from this, one way or the other.”
Radian, MGIC and Genworth said they have ways to meet the higher asset levels, which may change in a final version of the rules.
The companies cited strategies such as seeking reinsurance, selling assets, raising funds in the market or moving cash from other parts of their businesses.
Radian, based in Philadelphia, and MGIC both declined in extended New York trading after the rules were announced.
“We have at Radian the ability to meet these requirements, even as stated, without the need to raise capital,” Ibrahim said.
The companies have already turned to the capital markets to raise funds, so they can sell more coverage as home sales recover.
Billionaire John Paulson is a
IMHO...it's all scare tactics......they don't want anybody to make a MASSIVE WINDFALL KILLING from their actions to save the BIG banks--------from a catastrophe that was basically created by Greenspan----the toxic debt was unloaded onto FNMA/FMCC because they didn't want to put it on the national debt---the ceiling was raised anyway..........but that's what happened
Restore Fannie Mae has moved to facebook. I have seen that happen in the past...it enables more people to see it.
FRank...that's not necessary-------don't get emotional--you should know better----use the ignore function
I doubt that....the China man is waaayyyy over leveraged in real estate. They are on the edge of implosion due to over building, and an over abundance of vacant over priced housing which the working poor can't afford. Their situation is similar to the US in 2007---I predict chinese depression soon