|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11.95 - 12.24|
|52 Week Range||5.20 - 12.40|
|Beta (3Y Monthly)||1.36|
|PE Ratio (TTM)||1,110.00|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Mortgage giants Fannie Mae and Freddie Mac could be returned to the private market at different times, especially if the government moves to float them on the public markets, the head of the U.S. housing finance regulator told Reuters in an interview. It may be preferable to stagger that process due to the complexities involved in getting the government-backed firms, which have different business models, ready for private ownership, said Mark Calabria, director of the Federal Housing Finance Agency, which oversees Fannie Mae, Freddie Mac and the U.S. housing finance system.
Freddie’s outgoing chief executive officer says that’s easier said than done. Don Layton, who plans to step down July 1, said Tuesday that a capital plan issued a year ago by the companies’ regulator would require the mortgage giants to raise a combined $125 billion, in part by selling shares. To underscore how big a figure that is, Layton noted that the biggest initial public offering ever was Alibaba Group Holding Ltd.’s, in which the online retailer raised $25 billion.
On March 27th, President Trump issued a memorandum to the Secretary of the Treasury and the Secretary of Housing and Urban Development directing them to craft housing finance reform plans. The directive to Treasury listed "ending the conservatorships of the GSEs" as its first goal and instructed Treasury to specify for each reform included in the plan "whether the proposed reform is a 'legislative' reform that would require congressional action or an 'administrative' reform that could be implemented without congressional action. For each 'administrative' reform, the Treasury Housing Reform Plan shall include a timeline for implementation." A response from Treasury is expected in the next two to three months.
Pershing Square Holdings generated strong performance during the first quarter of 2019 and year-to -date. NAV per share increased 36.9% during the first quarter and by 38.4%1 year-to-date, compared with the S&P 500's year-to-date total return of 13.9%. Warning! GuruFocus has detected 5 Warning Signs with FNMA.
Trump, speaking Friday at a conference hosted by the National Association of Realtors, said that the mortgage giants lack competition, that taxpayers remain on the hook for any losses at the companies and that they aren’t being run as well as they could be. The president’s remarks reflect the White House’s determination to release the companies from conservatorship, something lawmakers and policy makers have failed at for years.
U.S. President Donald Trump said on Friday his administration was looking at alternatives to the conservatorship of mortgage giants Fannie Mae and Freddie Mac. "Fannie and Freddie can do a lot better ...
On Thursday, the Wall Street Journal reported that Craig Phillips, a top deputy to Treasury Secretary Steven Mnuchin, is leaving the federal agency. Phillips was formerly a top executive at BlackRock, Inc. (NYSE: BLK), and was known within the Trump administration as being a liaison between the Treasury and Wall Street.
The departure of Craig Phillips was announced Thursday by the Treasury. As a counselor to Mnuchin, Phillips has taken the lead on domestic financial policy initiatives, including the rule rollback and developing plans for freeing mortgage giants Fannie Mae and Freddie Mac from federal control.
(Bloomberg Opinion) -- Trump administration officials announced last week that if Congress doesn’t come up with a plan to overhaul Fannie Mae and Freddie Mac in the next couple years, they will. Their plan is to simply privatize the two giant mortgage banks. A better one would be to liquidate them.
Congress is likely to resist attempts by US president Donald Trump’s administration to privatise the two companies that guarantee most American mortgages, the most senior Democrat working on the plans has warned. In his role on the banking committee, Mr Brown is working with his Republican counterpart Mike Crapo on a bill to release the two entities from the government.
The travails of Fannie and Freddie illustrate eloquently how a public-private partnership can go wrong. For decades, the two operated as privately owned companies, but with a congressional charter to guarantee payments of interest and principal on mortgage loans — guarantees that underpin the traditional 30-year fixed-rate loan, support a global market for U.S. mortgage-backed securities, and make homeownership accessible to millions of Americans. The crucial role that Fannie and Freddie play in housing finance led investors to think the government would always rescue them in an emergency.
The comments by Federal Housing Finance Agency Director Mark Calabria in a Tuesday interview are a clear sign that regulators and President Donald Trump’s administration aren’t counting on a legislative solution after more than a decade of failures to address the biggest piece of unfinished business from the 2008 financial crisis. Lawmakers will get “at least an entire Congress” to act before the companies are freed, said Calabria, who took over at FHFA last month.
Even in what has been a notoriously high-volume sector, March was a particularly strong month for cannabis securities that trade on OTC Markets. Six of the top 10 most active securities in March on the ...
Lower mortgage rates are likely behind a surge in positive housing sentiment, which could help rev up what started as a sluggish spring season. A monthly survey from Fannie Mae showed that, in March, sentiment jumped to the highest level since June, which was just below the record high.
U.S. consumer sentiment for buying a home rose to its strongest in nine months as a result of a sturdy jobs market and a decline in mortgage rates so far this year, according to data released by Fannie Mae on Monday. Notably, Fannie Mae's latest data showed the net share of consumers surveyed in March who said it is a good time to sell a home jumped 13 points to 43%. A net share of 22% of consumers said it is a good time to buy a home, up 7 points from the month before.
Binner says the current Trump administration is the best chance for meaningful reform for Fannie Mae, but the political realities of a reform plan suggest an uphill battle. Last month, President Trump signed a memorandum initiating housing finance reform.
The U.S. Senate on Thursday confirmed President Donald Trump's pick to lead the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac. Mark Calabria, who was confirmed by a vote of 52-44, steps into a critical role in housing finance as Washington is renewing its efforts to overhaul the current system. As FHFA director, Calabria will be charged with overseeing the two government-sponsored enterprises, which guarantee over half of the nation's mortgages.
Berkshire Hathaway Chairman and CEO Warren Buffett speaks at the 2019 Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska. Buffett said it would be “very good for America” if Fannie Mae and Freddie Mac did more to help finance manufactured homes, such as those made by Berkshire-owned Clayton Homes.
Fannie Mae and Freddie Mac back about half of new mortgages in the U.S. Now, talks are heating up about reshaping or shrinking the two companies, a move that could impact millions of Americans. Photo: Heather Seidel/The Wall Street Journal
Spring housing market is in full swing and both buyers and sellers are feeling a bit more optimistic compared with past months. A new survey from Fannie Mae shows consumer home sentiment is ticking. The primary reason for the positive outlook falling mortgage rates leading to more affordability for buyers. Doug Duncan, Fannie Mae chief economist talks with Yahoo Finance's Julie Hyman and Adam Shapiro.
FBN’s Charlie Gasparino discusses how the Trump administration is pushing to reform Fannie Mae and Freddie Mac.