Can you believe this?
Apparently, they are banking ridiculous coin and rumors are swirling they may reinstate a divvy. I must be dreaming.
Fannie Mae and Freddie Mac (FMCC) seeing sharp gains over the past few days (0.66 +0.15)
FNMA is +127% since 3/14 and FMCC is +103% over the same period. The move follows news that Fannie Mae filed to delay its annual report (10-K) but said it expects to report significant net income for the three months and the year ended December 31, 2012.FNMA delayed its 10-K due to the need for additional time to analyze whether conditions existed as of December 31, 2012 that would require Fannie Mae to release any portion of the valuation allowance on its deferred tax assets in the fourth quarter of 2012. The release of the valuation allowance would have a material impact on the company’s 2012 financial statements and result in a significant dividend payment to the U.S. Department of the Treasury under the terms of the Variable Liquidation Preference Senior Preferred Stock, Series 2008-2.
Fannie said that if they conclude the valuation allowance should not be released in the fourth quarter of 2012, they will continue to evaluate the need for the valuation allowance in future periods. The valuation allowance on its deferred tax assets was $64.1 billion as of December 31, 2011 and $61.5 billion as of September 30, 2012.
Importantly, FNMA said that regardless of the decision to release or not release the valuation allowance, it expects to report significant net income for the three months and the year ended December 31, 2012, compared with a net loss of $2.4 billion for the three months ended December 31, 2011 and a net loss of $16.9 billion for the year ended December 31, 2011.
Yeah, Freddie is back too.
as is bankrupt AAMRQ
Haha where is the Fed buying these mortgages from again?
Fannie Mae? :-O
http://tinyurl.com/brarclr
Many Fanny and Freddy mortgages being rolled over for the lower interest rates. Repo’s being dealt with. Lots of mortgage activity out there of a healthier variety.
housing is higher than a model on blow.
Well, Fl, you have said that the housing market is recovering. So I guess if it is, then FNMA & FMCC might too. Time will tell.
Are you buying? I started a very small position the day before yesterday and it’s doing well. But more like a gamble.
Yes, I bought some today. But not a huge position. As you say, it’s a speculative play. Who knows what it will do from here?
The question is, what degenerate sneakthievery are they partaking in to procure these profits?
As an investor I don’t care. As a citizen & taxpayer, I would like to know the answer to that question, if indeed they are doing something wrong. It could just be though that the housing market is recovering. Houses in areas with jobs are rising in price.
I hope they are not stupid twice…
Will they start paying back the taxpayers on their losses totaling 154 billion?
Yes
I would say that the only housing demand is from the top 10% of income earners. One has to wonder how sustainable that is going to be. There is surely no activity going on here in northern Michigan other than the Gold Coast. 3 building permits pulled so far in our entire county this year.
There is no need for demand, all there needs to be for FNMA is for default rates to go down. Condisdering record refis by the bank at low rates I think that will continue.
Different localities are different. Most areas with lots of jobs are recovering.
Fortress Investment Group!
The picture for this blog post is golden.
It fits the subject perfectly, no?
No way I would buy this crap…
My pick TFM popped.. only took a day 🙂 WFM would be my other pick today
My other pick today CHK – target 36.18 from here.
I might sell 1/5 of KO in my multi-year port tomorrow, I expect rally friday….
What happened to all your doom and gloom, bozo?
What happened to yours?…
but if you curious you can follow me on Stocktwits I sold plenty of inverses yesterday, all in real time too..
Still hold EDZ and BZQ (oh wait BZQ was green today).
Oh and we are gonna crash big time, I mean huge shortly, but not tomorrow.
I do have magic powers to crash it tomorrow, just don’t feel like that…
BANNED
Mr Fly
Nice to see the challenge
Its a start
Stocktwits has no Mr. Partridge.
We got those bitchez!
It’s good to be King, but it’s better being V.King.
– Sur Plationic. MCC:XII
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