SnarkyPuppy Posted September 26, 2017 Share Posted September 26, 2017 He'll still be around for the defining moments of the GSE's so I'm cautiously optimistic Link to comment Share on other sites More sharing options...
Guest cherzeca Posted September 27, 2017 Share Posted September 27, 2017 so corker becoming a lame (f)(d)uck will make his influence over the GSE reform debate more or less compelling? i say less. let the debate begin... Link to comment Share on other sites More sharing options...
waynepolsonAtoZ Posted September 27, 2017 Share Posted September 27, 2017 While eschewing cause and effect, I'd say he's a warning to others. Granted, it must not have been too hard to dig out the dirt on him, but a lot of interesting stuff was found and publicized. The Rocky Top politics blog is one example. Link to comment Share on other sites More sharing options...
SnarkyPuppy Posted September 27, 2017 Share Posted September 27, 2017 so corker becoming a lame (f)(d)uck will make his influence over the GSE reform debate more or less compelling? i say less. let the debate begin... Not sure if this is in jest, but I don't think the guy is going to go down without a fight. If nothing else, the Fanniegate community has directly attacked him personally (removing whether it was justified or not) and there's a solid chance he puts up a fight for no other reason Link to comment Share on other sites More sharing options...
Midas79 Posted September 27, 2017 Share Posted September 27, 2017 so corker becoming a lame (f)(d)uck will make his influence over the GSE reform debate more or less compelling? i say less. let the debate begin... If Corker really is trying to get out ahead of a scandal then I agree, nobody will want to associate with him. If not the outcome is much harder to predict. He will still be on the Banking and Finance Committee and might figure that he has nothing to lose by being blatant about his agenda. He could trade his vote on other issues for anti-GSE legislation votes. Link to comment Share on other sites More sharing options...
Mephistopheles Posted September 27, 2017 Share Posted September 27, 2017 Two days until the deadline for Treasury and FHFA to respond to Senate Democrats letter. This has been way too long. Please just release them or kill them already! Link to comment Share on other sites More sharing options...
SnarkyPuppy Posted September 27, 2017 Share Posted September 27, 2017 Did carney just delete all of his fannie tweets? Link to comment Share on other sites More sharing options...
TonyG Posted September 27, 2017 Share Posted September 27, 2017 https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=402338 interesting Link to comment Share on other sites More sharing options...
SnarkyPuppy Posted September 27, 2017 Share Posted September 27, 2017 Mel Watt seems to be spending a lot of time with MBA. December 2017 Director Mel Watt to give remarks at MBA's Summit on Diversity and Inclusion Date: 12/4/2017 Location: Capital Hilton, 1001 16th Street, NW, Washington, D.C. 20036 October 2017 The Honorable Melvin L. Watt, Director, Federal Housing Finance Agency - General Session - A View From Washington at MBA Annual Convention and Expo 2017 Date: 10/23/2017 Time: 11:00 AM - 11:45 AM Location: Denver Convention Center, 700 14th Street, Denver, CO 80202 Link to comment Share on other sites More sharing options...
Luke 532 Posted September 27, 2017 Share Posted September 27, 2017 Mel Watt seems to be spending a lot of time with MBA. That's not good. Link to comment Share on other sites More sharing options...
Luke 532 Posted September 27, 2017 Share Posted September 27, 2017 Tax framework PDF attached. Link: https://fairandsimple.gop/Tax_Blueprint.pdf Link to comment Share on other sites More sharing options...
Luke 532 Posted September 27, 2017 Share Posted September 27, 2017 Tax framework PDF attached. Link: https://fairandsimple.gop/ I may have missed it, but on first read of the PDF I don't see anything referencing GSE's, Fannie/Freddie, etc. Link to comment Share on other sites More sharing options...
rros Posted September 27, 2017 Share Posted September 27, 2017 Tax framework PDF attached. Link: https://fairandsimple.gop/ I may have missed it, but on first read of the PDF I don't see anything referencing GSE's, Fannie/Freddie, etc. Thank you. Should there be any reference to something so specific in a pamphlet targeting the average citizen? That said, any tax reform plan must have forced the authors to look into this: "If Congress enacts such a reduction, it would negatively affect the value of our deferred tax assets and, we expect, result in a significant net loss and net worth deficit for the quarter in which the legislation is enacted," Fannie Mae President and CEO Tim Mayopoulos said Friday during the company’s first-quarter earnings call. "Such a deficit would require us to draw addition funds from Treasury.” Maybe a solution has been agreed upon which we don't yet know? Link to comment Share on other sites More sharing options...
Midas79 Posted September 27, 2017 Share Posted September 27, 2017 4,000,000 shares of FMCKM just traded hands. https://www.otcmarkets.com/stock/FMCKM/quote Link to comment Share on other sites More sharing options...
SnarkyPuppy Posted September 27, 2017 Share Posted September 27, 2017 Really not loving the Mel Watt MBA coordination Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted September 27, 2017 Share Posted September 27, 2017 4,000,000 shares of FMCKM just traded hands. https://www.otcmarkets.com/stock/FMCKM/quote Was that a single transaction? For $100M in par exposure?!? Any idea if it was executed at the bid or ask? Link to comment Share on other sites More sharing options...
Midas79 Posted September 27, 2017 Share Posted September 27, 2017 4,000,000 shares of FMCKM just traded hands. https://www.otcmarkets.com/stock/FMCKM/quote Was that a single transaction? For $100M in par exposure?!? Any idea if it was executed at the bid or ask? The bid/ask before and after the transaction was 5.25/5.60 while the trade appears to have cleared at 5.40. I don't know if it was a buy or sell order. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted September 27, 2017 Share Posted September 27, 2017 4,000,000 shares of FMCKM just traded hands. https://www.otcmarkets.com/stock/FMCKM/quote Was that a single transaction? For $100M in par exposure?!? Any idea if it was executed at the bid or ask? The bid/ask before and after the transaction was 5.25/5.60 while the trade appears to have cleared at 5.40. I don't know if it was a buy or sell order. Just looked at bloomberg - 4 transactions for 1,000,000 shares apiece at $5.35 and $5.40. Still can't tell if that was the bid/ask at the time because the 5.25/5.60 bid/ask was from 40 minutes prior to when the transaction was actually executed. Link to comment Share on other sites More sharing options...
Midas79 Posted September 27, 2017 Share Posted September 27, 2017 4,000,000 shares of FMCKM just traded hands. https://www.otcmarkets.com/stock/FMCKM/quote Was that a single transaction? For $100M in par exposure?!? Any idea if it was executed at the bid or ask? The bid/ask before and after the transaction was 5.25/5.60 while the trade appears to have cleared at 5.40. I don't know if it was a buy or sell order. Just looked at bloomberg - 4 transactions for 1,000,000 shares apiece at $5.35 and $5.40. Still can't tell if that was the bid/ask at the time because the 5.25/5.60 bid/ask was from 40 minutes prior to when the transaction was actually executed. I have only been looking at the level 2 on OTCmarkets.com, but I have checked it off an on throughout the day and I haven't seen the bid/ask budge from 5.25/5.60. That volume still pales in comparison to the two 14M share blocks of FNMAT earlier this year. Still, I wonder why FMCKM. The correlation between dividend yield and share price on the prefs has definitely weakened in the past several months, sitting around 0.45 (had been close to 0.9 in the past). Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted September 27, 2017 Share Posted September 27, 2017 4,000,000 shares of FMCKM just traded hands. https://www.otcmarkets.com/stock/FMCKM/quote Was that a single transaction? For $100M in par exposure?!? Any idea if it was executed at the bid or ask? The bid/ask before and after the transaction was 5.25/5.60 while the trade appears to have cleared at 5.40. I don't know if it was a buy or sell order. Just looked at bloomberg - 4 transactions for 1,000,000 shares apiece at $5.35 and $5.40. Still can't tell if that was the bid/ask at the time because the 5.25/5.60 bid/ask was from 40 minutes prior to when the transaction was actually executed. I have only been looking at the level 2 on OTCmarkets.com, but I have checked it off an on throughout the day and I haven't seen the bid/ask budge from 5.25/5.60. That volume still pales in comparison to the two 14M share blocks of FNMAT earlier this year. Still, I wonder why FMCKM. The correlation between dividend yield and share price on the prefs has definitely weakened in the past several months, sitting around 0.45 (had been close to 0.9 in the past). Might've simply been the only one available in that size - if you're managing a fund and buying in $100,000,000 blocks of par in illiquid names - it's probably better more important to enter/exit the exposures than it is to nitpick which one might outperform a hair due to higher dividend accruals. I can imagine that if I was managing that amount, I'd have outstanding limit orders on all preferreds traded and just let which ones fill where they may. Link to comment Share on other sites More sharing options...
Midas79 Posted September 27, 2017 Share Posted September 27, 2017 Might've simply been the only one available in that size - if you're managing a fund and buying in $100,000,000 blocks of par in illiquid names - it's probably better more important to enter/exit the exposures than it is to nitpick which one might outperform a hair due to higher dividend accruals. I can imagine that if I was managing that amount, I'd have outstanding limit orders on all preferreds traded and just let which ones fill where they may. If it was a Fannie series then the whole "2/3 of shareholders approval needed to change terms" things might apply, but that language isn't in the Freddie preferred circulars. Link to comment Share on other sites More sharing options...
SnarkyPuppy Posted September 27, 2017 Share Posted September 27, 2017 Really not loving the Mel Watt MBA coordination Need someone to positively spin this for me Link to comment Share on other sites More sharing options...
TonyG Posted September 27, 2017 Share Posted September 27, 2017 he speaks at tons of housing events. MBA happens to be one of the large trade groups, he's spoken the past couple of years.i don't see it as a factor but i could be wrong. Link to comment Share on other sites More sharing options...
Luke 532 Posted September 28, 2017 Share Posted September 28, 2017 For those that want to see what happens with the Q3 dividend payment... FHFA payments: https://www.fhfa.gov/DataTools/Downloads/Documents/Market-Data/Table_2.pdf Treasury receipts: https://www.fms.treas.gov/dts/index.html Link to comment Share on other sites More sharing options...
Luke 532 Posted September 28, 2017 Share Posted September 28, 2017 4,000,000 shares of FMCKM just traded hands. https://www.otcmarkets.com/stock/FMCKM/quote Another 2,300,000 of FMCKM traded today and 2,000,000+ FNMAS. Link to comment Share on other sites More sharing options...
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