fanniemae
Fannie Mae and Freddie Mac have been hanging in the balance for years, and the capital rule that was proposed almost a year ago just made matters worse. Now former Fannie Mae CFO Tim Howard is calling into question calling for the Biden administration to release the government-sponsored enterprises from their conservatorships and reissue a new capital rule that would enable their release. Q2 2021 hedge fund letters, conferences and more Calculating The Capital Rule For Fannie Mae And Freddie MacIn a blog post on his website dedicated to Fannie Mae and Freddie Mac, Howard explained how the capi...
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The Supreme Court has weighed in on one of the lawsuits involving Fannie Mae and Freddie Mac. However, it didn’t move the case forward much, as the court remanded the case back to the lower court for additional rulings. Q2 2021 hedge fund letters, conferences and more In the meantime, the real estate industry hangs in the balance as the courts decide what should be done with the government-sponsored enterprises (GSEs). Sustainable homeownership and minority homeownership will be greatly affected by the outcome of the cases involving Fannie and Freddie. Here's What The Supreme Court Had To SayT...
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There’s been a lot of talk about getting Fannie Mae and Freddie Mac out of conservatorship, although that could change now that President Joe Biden is in the White House. However, Biden’s presidency does not necessarily mean that reform for the government-sponsored enterprises is entirely out of the cards. Q1 2021 hedge fund letters, conferences and more GSE Reform Options For The Biden AdministrationHere are some options the Biden administration might consider when it comes to GSE reform and what they would mean for mortgage borrowers. Brookings Institution ViewIn late February, the Brookings...
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Fannie Mae and Freddie Mac will be able to keep retaining earnings, but there’s a catch—in the form of liquidation preferences. The latest amendment to the Senior Preferred Stock agreement calls for an extension of the loan that can never be repaid. [soros] Q4 2020 hedge fund letters, conferences and more Fannie Mae, Freddie Mac face liquidation preferencesThe Treasury and the Federal Housing Finance Agency filed the Fourth Amendment to their Senior Preferred Stock agreement with the government-sponsored enterprises. According to analyst Dick Bove of Odeon Capital, the agreement forces Fannie ...
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The Supreme Court takes up the case of Fannie Mae and Freddie Mac this week, and their common shares rallied after opening statements. One investor tells ValueWalk he believes Fannie Mae and Freddie Mac common shares would be worth $40 if all the stars align for shareholders. Q3 2020 hedge fund letters, conferences and more However, Tim Pagliara of CapWealth Advisors, who also owns shares of the GSEs, says not so fast. He says there's definitely upside to the shares, but things might not happen as quickly as some investors are expecting. There are a lot of factors that will influence the value...
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Treasury Secretary Steven Mnuchin will leave office soon, and the clock is ticking on getting Fannie Mae and Freddie Mac out of conservatorship. This is a time for Mnuchin to look back at his legacy, and for Fannie Mae and Freddie Mac, to decide whether he wants to align himself with the perjury that has gone before or whether he wants to be part of the solution to the nation’s housing finance problems. Q3 2020 hedge fund letters, conferences and more Supreme Court to hear case about Fannie Mae, Freddie MacThe Supreme Court will take up one of the cases involving Fannie Mae and Freddie Mac sta...
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Many analysts argue that there is no bull case for Fannie Mae and Freddie Mac common shares. However, analyst Dick Bove offered one potential bull case for the government-sponsored enterprises, although he did so while also saying that he doesn’t think it is the most likely scenario.Q3 2020 hedge fund letters, conferences and moreThe key to the Fannie Mae, Freddie Mac bull caseA big difference between the bull and bear cases for Fannie Mae and Freddie Mac is where they will get all of the capital they will need to operate under the new rule. Bove believes the GSEs will have to issue a lot of s...
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Fannie Mae and Freddie Mac have seen their valuations climb in the days since the Federal Housing Finance Agency finalized the capital rule for them. Common shares of both government-sponsored enterprises climbed more than 30%, while their preferred shares increased by more than 10%.Q3 2020 hedge fund letters, conferences and moreQuestions about Fannie Mae, Freddie Mac valuationAnalyst Dick Bove of Odeon Capital said he would've expected that the preferred shares of Fannie and Freddie would increase more than the common shares, although that's not what happened. He also continues to assume tha...
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In recent weeks, former Freddie Mac CEO Don Layton wrote two monographs about Fannie Mae and Freddie Mac privatization and GSE reform. Analyst Dick Bove of Odeon Capital read those monographs and set out what he thinks must happen to provide the best possible results for investors.Q3 2020 hedge fund letters, conferences and moreFirst steps toward Fannie Mae, Freddie Mac privatizationAccording to Bove, one of the first things that must be done is to have the senior preferred shares be declared fully paid in both principle and interest. If this doesn't happen, he says there is no next step. Addi...
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