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Federal National Mortgage Association (FNMA)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.4520+0.0182 (+4.21%)
At close: 03:59PM EDT
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  • W
    Warrior Boat Shoes
    To all of the FNMA Warriors!
  • W
    Warrior Boat Shoes
    Day 28, still on his desk Maestro?
  • R
    Rodney
    Filed 06/03/2022

    UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION

    Quote: “Together, the Companies’ return to robust profitability and the stable recovery of the housing market showed in early 2012 that the Companies could in time redeem Treasury’s senior preferred stock and that value remained in their privately owned junior preferred and common stock.

    Furthermore, as a result of Fannie’s and Freddie’s return to sustained profitability, it was clear that the overly pessimistic accounting decisions weighing down the Companies’ balance sheets would have to be reversed. By early August 2012, FHFA and Treasury knew that Fannie and Freddie were poised to generate profits massively in excess of the 10% cash dividend the Companies had previously paid Treasury.

    On August 17, 2012, days after the Companies had announced their return to profitability and just as it was becoming clear that they had regained the earnings power to redeem Treasury’s senior preferred stock and exit conservatorship, FHFA and Treasury amended the PSPAs for a third time. The third amendment imposed the Net Worth Sweep, under which the Companies were required to pay Treasury a quarterly dividend starting in 2013 and continuing forever that is equal to their entire net worth, less a small capital buffer. Thus, rather than paying Treasury a fixed 10% cash dividend (or declining to declare cash dividends and allowing the liquidation preference to increase at a12% rate), the Companies would be required to pay Treasury100% of their comprehensive income and retained assets in perpetuity. Since the Net Worth Sweep guaranteed that Treasury would receive all the Companies’ comprehensive income anyway, the third amendment suspended the periodic commitment fee.”

    Note: Before the 3rd Amendment the Companies would have redeemed the Senior Preferred Stock, and exited conservatorship.

    Link: https://www.dropbox.com/s/2izg8rncjgos87w/amended%20collins%20complaint%20upon%20remand.pdf?dl=0
  • W
    Warrior Boat Shoes
    2:30am Cheers!
  • G
    Gabe
    The Sixth Circuit has accepted the Rop Plaintiffs’ supplemental brief and will accept supplemental briefs from FHFA and Treasury by July 14
    My guess, that the Sixth Circuit would announce Rop vs FHFA trial decision by September.
  • c
    curly
    Happy 4th Warriors
  • D
    Dingding
    I am buying $100k per 10 cents drop now.
  • W
    Warrior Boat Shoes
    Day 28, still on his desk Maestro?
  • A
    Anonymous
    I’ve been buying this thing down for 5 years. This is unbelievable; Eff Jay Bee
  • B
    Bob
    I thought we would see some trial news in July, but lately it appears that has been moved to September. Is that correct?
  • M
    Mister
    In celebration of our independence the government will sweep the profits from F&F, deposit some in the black hole of the treasury and hide the rest under recapitalization. The trick to doing this year after year is to occasionally move the capitalization number. To think what the founders fought the revolutionary war over and what we have now. Taxation without representation is 1000 times worse now then it was then.
  • P
    Peace
    We are perfectly comfortable with a low share price for Fannie and Freddie. The price does not relate to the financial solvency of the twins. They are both iron strong. The current price allows our group to average down our holdings... we will continue cheap share acquisition. The government encourages public share purchasing by holding the price low. Thank you for the opportunity.
  • L
    Louis
    It's no longer shareholder gains subsidized by taxpayer loses (the phony talking point).
    Now, for 14 years it's been government gains subsidized by shareholder robbery via unwittingly blind taxpayer backing.
    The government crooks love using that taxpayer term to justify their criminal activity, yet nothing government has done with the GSE defrauded money has been shown to float to the bottom line of any taxpayer. Except FHFA give aways to dead beats of color with bad credit.
  • W
    Warrior Boat Shoes
    Many Warriors still around & counting! Love it!
  • W
    Warrior Boat Shoes
    I know the Secret Plan is somewhere!
  • M
    Mister
    All publicly traded companies have press releases to inform shareholders of what is going on. They have quarterly reports where shareholders can ask questions. In the case of the twins the shareholders are excluded from everything, and all their rights are stripped away. The courts are ok with this, year after year. If any other management team did what these folks are doing they would have been fired and likely charged criminally for artificially and maliciously suppressing the share price of the the company stock. If they had stolen 100% of the two companies instead of stealing 80% of them perhaps it would have been all behind them now. The crime would have been done and everyone would have moved on. But, this crime lingers on for 14 years because they left some crumbs for their subjects, and they keep the crumbs out of reach.
  • R
    RUSHARMY
    Let's hear it for FNMA!
  • W
    Warrior Boat Shoes
    Day 26, still on his desk Maestro?
  • M
    Mister
    What two other companies earn this kind of profits and trade at 40 cents? Yet our courts see no problem with it. What other publicly traded companies purposefully deprive their shareholders from sharing in the companies prosperity? What other publicly traded companies have their profits swept and deposited directly into the treasury? No where else in America can this happen except right here. The courts don't see a problem? Once again, not a single person held accountable for the crimes.
  • s
    s
    I will buy now and sell 5 years from now. Easy $$$
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