Potential ohne ENDE?

Huge News Out - more settelements

Wells Fargo Reaches Agreement Resolving Freddie Mac Repurchase Demands on Loans Sold Prior to 2009
6:25p ET September 30, 2013 (Business Wire)

Wells Fargo & Co. (NYSE:WFC) announced today that on Sept. 27, 2013 the Company reached an agreement with the Federal Home Loan Mortgage Corporation (Freddie Mac) that resolves substantially all repurchase liabilities related to loans sold to Freddie Mac prior to Jan. 1, 2009.

The $869 million agreement was adjusted for credits related to certain prior repurchases, resulting in a one-time cash payment to Freddie Mac of approximately $780 million. At June 30, 2013, Wells Fargo had fully accrued for the cost of the agreement.  

huge news!!

wie lange wissen wir nun schon, dass diverse banken zahlen müssen (werden)??

 

 

Wirkt sich der Haushaltsstreit jetzt auch auf Fannie aus? Das die auch in Zwangs Urlaub geschickt werden und die Kunden nicht bearbeiten können, bis die sich geeinigt haben?  

Dienen die nicht einem Kapitalaufbau? Das kann ja wohl kaum an den Staat abgeführt werden.

Oder irre ich mich da kollossal? Ansonsten bunkern die Zwillinge nämlich schon wieder einige Milliarden... wer weiß da was drüber?

Danke im Voraus

 

Du irrst Dich kolossal. "Entschädigungszahlungen" fließen, falls sie nicht ohnedies schon früher aktiviert wurden, 1:1 in die Quartalsgewinne, und diese werden 1:1 jedes Quartal an die senior preferred des Staates abgeführt. 

 

http://www.law.nyu.edu/news/Fannie-Freddie-conference-CLI

 

Gruss,HAO

 

 

Article today by Morgan Brennan, Forbes staff.

Excerpt:  "Mortgages purchased and securitized by Fannie Mae and Freddie  Mac will be unaffected because their operations are paid for by fees  charged to lenders. And the Department of Veterans Affairs will continue  to guarantee mortgages for Americans that have served in the military  since these loans are funded by user fees as well."  "

 

http://www.google.de/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CDMQFjAA&url=http%3A%2F%2Fwww.chicagotribune.com%2Ffeatures%2Fchi-nsc-heres-how-the-government-shutdown-will-affect-20131001%2C0%2C5033328.story&ei=ptlKUvfcH8ir0gXi0YHgBQ&usg=AFQjCNHqKX4YjgcbuWkH-Rz4BpmMqyjqrg&sig2=T7Du4J6UOqZ28NWOTA4W9w&bvm=bv.53371865,d.d2k

HAO

 

so wie ich es verstehe war diese konferenz am 20. sept.

scheinbar ist nichts markantes herausgekommen welches den kurs nach oben oder nach unten trieb.

auch die wells fargo mitteilung will irgendwie nicht einschlagen.

 

 

ist doch endlich mal der "Euro" durchbrochen. Ob es bleibt? Wie auch immer - nicht bange machen lassen.  

Morgen ist Mittwoch.

 

Vielleicht noch Anmerkungen, dass das Lesen und Verstehen leichter fällt.

Anscheinend sagt man :  wenn man nicht weiß ob es stimmt !

Scheinbar sagt man : wenn man weiß, dass es NICHT stimmt !

Und :

 

So wie ich es verstehe war diese Konferenz am 20. Sept.

Scheinbar ist nichts Markantes herausgekommen welches den Kurs nach oben oder nach unten trieb.

Auch die Wells Fargo mitteilungwill irgendwie nicht einschlagen.

Nomen , Substantive, Satzanfang etc. am Besten entsprechend der Rechtschreibung GROß. Ist besser zu lesen.

Vielen Dank und Grüße

 

Ja Mittwoch.
Da war doch was.  

bestimmt Lehrer? Nein, Oberlehrer!  

Eine Korrektur: "Scheinbar" sagt man, wenn man glaubt zu wissen, dass es nicht stimmt.  

Scheinbar dreht sich die Sonne um die Erde.

Der Schein ist richtig; aber man weiß, dass es nicht stimmt.

 

..., dass sich die Erde um die Sonne dreht? War natürlich Spaß. Ich mag ebenfalls, wenn man sich korrekt ausdrückt. Aber - manchmal hat man alles scheinbar richtig formuliert und dann ist es wieder passiert, dass - aus welchen Gründen auch immer - die Grammatik...  

Vor allem wenn es Berg auf geht und man mit dem Handy schreibt :) !!!  

danke für deinen hinweis.

ich gehe, was meine muttersprache anbelangt, bestimmt nicht auf krücken einher.

leider vergisst man mit der zeit aber einiges. die wahl von "scheinbar anstatt anscheinend" war für mich ok.

ich werde mir den unterschied jedoch merken.

in foren schreibe ich generell alles klein. ich tippe schnell. viel zu oft käme dann die shift umschaltung

zu spät und es wird nicht gross geschrieben. das ärgert mich jedesmal.

vielleicht habe ich das timing nicht im griff oder es liegt an der tastatur.

gruss

 

 

  

 

Hallo. Wann stehen denn neue Quartalszahlen an????  

die 1€ Marke ist mal wieder angesagt

 

übrigens,

meine mutter war beim zahnarzt. er hat ihr neue zähne eingesetzt,

welche alle zu ihrer vollsten zufriedenheit ausfielen. 

 

 Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)

Investors, from hedge fund managers, legal beagles to individual investors, all want to see Fannie Mae (NYSE: FNMA.OB) and Freddie Mac (NYSE: FMCC.OB) repay their bailout loans to the government using the quarterly profits they are producing and return the companies back to the stockholders. Right now, that is not the flavor in Washington. Recent statements by several representatives of companies with lawsuits against the government have made noise, but no progress on freeing Fannie and Freddie from the government's grip.

Over the last 6 months (you can review my past articles), I have advocated moving your money to more profitable investments while Washington makes no movement on the issue. I stand by this recommendation as little has changed over time, and the Federal Government has swept quarter after quarter billions of dollars of profits into the Federal Reserve. The end of the third quarter is upon us and once again, with no action by Congress or the Federal Reserve, the billions of dollars of profits Fannie and Freddie earned this quarter will again go to the Federal Government.

The total dollar amount the government bailed the government sponsored enterprises (GSEs) was $188 billion. The initial agreement was for the government to purchase common and preferred shares for a penny on the dollar and billions of shares were created for the government. The government also added stipulations that a quarterly dividend of 10% was to be paid and if the funds were not available, they would have to borrow the money to pay the dividends. In 2012, the government added another stipulation that any profits made by the companies were to be considered dividends and paid directly to the government and not used to pay off the loans. This completely blocked any attempt to pay off the loan and would prevent the companies from ever going public again.

Several lawsuits filed have been brought to force the government into releasing the companies, but we could be years away from any settlement. Hedge fund manager Michael Kao recently stated that the political winds could still shift in favor of Fannie Mae and Freddie Mac shareholders. He cited the Chrysler and UAW issue where the political leadership sided with investors and allowed investors the rights to ownership of the company over giving the company to the UAW's retirement program. I see very little similarity between the two cases, but he could be correct.

Bruce Berkowitz, Perry Captial, Paulson & Co. and Claren Road Asset Management have invested heavily in the junior preferred stock in the government sponsored enterprises (GSEs); however, Perry also acknowledged in a lawsuit on July 7, 2013 that it also owns common shares. As a leading voice in the push to rid the government, the issue remains cloudy without a clear path by the government, the market or investors on how to proceed through the legal minefield. The 2012 amendment came as a further blow to some hedge funds, including Paulson & Co., Perry Capital and Akanthos Capital, who heavily bought into the junior preferred shares of the agencies beginning in 2010 when they were trading for pennies on the dollar on a bet that the shares would recover in value once the companies became profitable again and repaid the government.

While the claim from Perry's attorney Ted Olson of Gibson Dunn & Crutcher argues the amendment "enriches the federal government through a self-dealing pact, and destroys tens of billions of value in the companies' preferred stock," it also contends the deal illegally "destroys value in the Companies' publicly held common stock."

Betting on either preferred or common shares of Fannie and Freddie is largely a wager on politics and law, rather than the more traditional investing in metrics of profitability. The government sponsored entities earn billions in profits each quarter. The question is whether private investors have any right to those profits.

Michael Kao, co-founder of hedge fund Akanthos Capital, is one of the early investors in the junior preferred of Fannie Mae and Freddie Mac. He advocates returning the GSEs to private hands in a General Motors(GM) style recapitalization, where senior preferred shares and old preferred stocks are converted into common shares and sold to the public.

Political analysts believe investors such as Kao disregard political reality. The fact is Fannie Mae and Freddie Mac are political poison in Washington.

"The possibility of truly privatizing them isn't there," says Lawrence White, professor of economics at NYU's Stern School of Business and author of Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance. Fannie and Freddie were once credible institutions with great human capital, but all of that has gone now, he says. That ship has sailed. The blow to their reputations has been too great for either agencies to exist as their former selves.

Regulations have been tightened over the last 5 years for underwriting standards and the borrower's credit scores. The agencies have also more than doubled the fees they charge to guaranteed loans.

Until Congress decides how to wind them down, they remain in limbo.

Shareholders of Fannie Mae and Freddie Mac meanwhile are eager to see taxpayers repaid so that they can take share in the profits of the quarterly dividends. There are currently no Congressional members on record that are willing to spend any political clout and risk election backlash in supporting the return of the GSEs to investors. Although the issue mostly resides on the back burner with the budget and deficit issues as top priorities, there are two proposals for mortgage financial reform that differ in many areas, but both agree that Fannie and Freddie should be dismantled.

Under either proposal, mortgage rates are set to go up, a borrower would be required to put up at least 20% and have a 750 credit score. Mortgage rates would climb with the risk and required fees, making home ownership harder for first-time buyers and force the savings, taking billions of dollars out of the economy.

Investors, consumers and voters hear sound bites from selected parties and not the whole picture. There is no unbiased party in the discussion and facts are being manipulated by the self-interested parties.

Investor interest in participating in the high risks and rewards of large gains through the lawsuits are suggestive that investors have more hope or blind-faith in the lawsuits than the quality of sound investments. Every individual investor must decide how much of his/her portfolio they want to invest in these sorts of investments. Personally, I would rather not invest in the GSEs in their current state.

Additional disclosure: General statement in the news from CNN and Bloomberg are excellent places to search for more information. Other authors on SeekingAlpha.com have excellent insight also.

 

 

http://seekingalpha.com/article/1720302-fannie-and-freddie-have-fans-but-no-political-support?source=cnbc

 

Bald folgen die Grossen...JPM,BAC,DB,Morgan Stanley,Bank of Scotland,Credit Suisse,Merrill Lynch,Goldman Sachs,usw.

Freddie Mac Announces Settlements Totaling More Than $1.3 Billion With Major Financial Institutions

   "All of the agreements were approved by FHFA, as Freddie Mac's Conservator.
   Details of the agreements are as follows:
   On September 27, 2013, Freddie Mac entered into agreements with Wells Fargo Bank, National Association ("Wells Fargo") under which Wells Fargo agreed to pay Freddie Mac a total of $869 million (less credits of $89 million for repurchases already made and for reconciling adjustments). Under the agreements, Freddie Mac has released Wells Fargo from certain existing and future repurchase obligations for loans funded by Freddie Mac prior to January 1, 2009, including approximately 6.7 million loans sold to Freddie Mac from 2000 through 2008.

   On September 25, 2013, Freddie Mac entered into an agreement with CitiMortgage Inc. and Citibank, National Association (collectively, "Citigroup") under which Citigroup agreed to pay Freddie Mac a total of $395 million (less credits of $43 million for repurchases already made and for reconciling adjustments). Under the agreement, Freddie Mac has released Citigroup from certain existing and future repurchase obligations for approximately 3.7 million loans funded by Freddie Mac between 2000 and 2012.

   On September 30, 2013, Freddie Mac entered into an agreement with SunTrust Mortgage, Inc. ("SunTrust") under which SunTrust agreed to pay Freddie Mac a total of $65 million (less credits of $25 million for repurchases already made and for reconciling adjustments). Under the agreement, Freddie Mac has released SunTrust from certain existing and future repurchase obligations for approximately 312,000 loans funded by Freddie Mac between 2000 and 2008." Less
 

hört sich echt nicht gut an....

 

Eigentlich hört (liest) sich das doch ganz gut.

Hat nur wie andere gute Nachrichten keinen Einfluß auf den Kurs.

:-(

 

und das bei einem wirlich lächerlichen volumen.

normalerweise hätten wir 2 tage im minus schliessen müssen.

aber fannie ist auch nichts für rational denkende menschen.

:)

und jetzt geh ab fannie - du ....