FNMA Stock Alert 08/28/2014 05:24:00 $FNMA
You mean this response where the FNMA spokesperson said that it was basically a standard part of the job description that is part of the corporate by laws...so they have to say they need an attorney with NYSE listing experience.
"A spokesman for Fannie said the mortgage lender has “no plans” to list on the NYSE, and that the job listing for someone with knowledge of the NYSE listing requirements is based on Fannie’s corporate governance guidelines. “As noted in our Corporate Governance Guidelines…the director independence requirement is set forth in FHFA corporate governance regulation 12 C.F.R. 1710.10, which requires the standard of independence adopted by the NYSE,” the spokesman added."
please remember my disclosure said I am long FNMA and positive about the outcome of FNMA.
This could still be an advertisement with a 6 year old job description because the guy/gal they hired 6 years ago has left.
Also FHFA was created in 2008 per the FHFA website.
Enacted in response to the financial crisis of 2007-08, the Act created the Federal Housing Finance Agency (FHFA) as supervisor of the enterprises and the Banks (together, the regulated entities); abolished OFHEO and the FHFB; and transferred mission supervision of the enterprises from HUD to FHFA, thereby consolidating all supervision of the enterprises within FHFA.
Basically the FHFA was a consolidation of OFHEO and FHFB..so the position decription for the advertisement was probably updated in 2008. Fannie Mae has been around for years. They probably did a quick update in 2008 when the FHFA was created.
Fannie and Freddie weren't delisted until the summer of 2010.
FNMA Stock Message Board http://investorshangout.com/Fannie-Mae-FNMA-61730/
WONG!!!!
$$$$$FNMA$$$$$
This is not the worry now. Wind down speech is over.
Haha...won't know if we have great minds until we head higher. If we get faked out...that will suuuuuck
This is no '20 year old' job description. The FHFA has only been around for 6 years.
Quote:
KEY JOB FUNCTIONS
Provide advice and counsel on corporate governance and securities law matters, including Federal Housing Finance Agency, ‘34 Act, and NYSE listing requirements, among others.
Haha! Great minds think alike, eh?
Quote:
"You've got balls………….I like……balls"
Haha, not me, I don't like balls of course, lol. Tooottallly hetero here. Thought it was appropriate though. Market orders fall into that "faith" category. Good luck bud.
Lol....Duhhh...the majority of home buyers from a 2004 - a few years ago were in a different category....They were all totally credit based...Meaning...Drive by appraisals..., Lower rates for better credit scores which could be fudged......I never saw so many housewives that made 6 to 7,000 a month for being the "owner of a cleaning company"..fake documents were submitted to loans and prevalent at that time....The mortgage amount for the average person nearly tripled in their borrowing power!!!
Lol that is my strategy as well believe it or not. I plan to buy half of my shares now but I won't be buying the other half until we close over the 50 dma. I will play with the half and hey if this was really a headfake and we really drop to 3.76 or 3.70 (200 dma)...what can I say...I did my best with my limited ability. By playing with half now...I minimize my loss should this be a headfake. If this moves higher and I average up with my other half around 4.03/4.04...oh well at least my total average is lower
Understand. Seems you may have missed Fannie Mae response to this posting this afternoon. I recommend you either use your scroll down on your mouse and read the other posts, or do a Google search of their response. Its not an old listing.
Okay got it thanks.
“The indictment alleges that Charikov recruited his loan officer wife, Romanishin, 32, of West Sacramento; Tuzman, 42, of Citrus Heights; and Talybov, 32, of Antelope, as straw buyers in transactions involving the sale and purchase of two West Sacramento properties in 2006 and 2007.
“After the first set of straw buyers obtained the proceeds from Talybov’s fraudulent purchases, they allegedly split the take with Charikov. Subsequently, Talybov defaulted on loans for both properties.
All four were charged with fraud that resulted in alleged losses to the lenders of at least $710,000. Charikov and Tuzman were also charged with laundering their ill-gotten gains.”
Got it so far? The United States Attorney, in a hard-hit part of California, used its massive massive, taxpayer-funded resources, and made the decision to charge the low-level fraudsters, and none of the bankers. No plea deals were reached.
Instead, in an act of incredible lawyering, the defense attorneys turned the case on its head by arguing the real criminals were the banksters! Unbelievable.
Remember, to prove fraud, one element is reliance. That means the banksters, who lost the $710,000, had to prove that they relied upon the statements in the loan application to lend the money. The criminal defendants showed that the loans would have been made anyway, whether the application information was true or completely false. Thus, there was no reliance, an essential element, and the jury acquitted the criminal defendants. Brilliant, simply brilliant, and my hat is off to those fine lawyers who advocated a winning position. It was a risky move, too, one that drew sharp objections from the prosecution:
My point is that every company has attorney that need to be aware of listing requirements for the exchange they are listed on so they would need to be aware of the rules for maintaining the basic requirements for being/maintaining listing on that exchange.
Since Fannie was previously listed on the NYSE it makes sense that if they are replacing a vacant attorney that the position description would be contain a requirement for understanding NYSE listing requirements. Since the job description specifically contained a requirement for the NYSE that makes more sense that it is an old job description.
If they had updated the job description it would have stated something to the effect of being knowledge for requirements for maintain listing on the major US exchanges.
If the stock is to be uplisted, it would make sense for there to be competition for which exchange to be listed on at this point. The NASDAQ and the NYSE each have different listing requirements. Also, when the intent to uplist occurs there are SEC regulations to follow about seeking uplisting as well as specific time frames that have to be met.
It is not something that can be turned on over night. The relisting of American Airlines coming out of bankruptcy is a good example of how long it can take to relist and the various headaches/hurdles that Fannie and Freddie would have to go through to be relisted.
Just In: Acquittal - Real Fraudsters were the Banksters!
By California Lawyer Wednesday, August 27, 2014 at 4:12 pm
http://www.tfmetalsreport.com/comment/427226
(FYI I have'nt found the original source - read the online version, longer and quite funny)
Real estate flippers avoided criminal conviction because they argued, and persuaded the jurors, that the REAL criminals were the banksters!! No way!!!
“In an unprecedented trial, four people charged with mortgage fraud were acquitted Friday by a jury in Sacramento federal court after defense attorneys argued the real culprits are the so-called victim lenders.”
The winning defense attorney, naturally, highlighted the real issue:
““The big banks and other lenders made as many loans based on patently false information as they could, packaged them as securities and passed them up the chain to Wall Street’s investment and management bankers, who peddled them to an unsuspecting public,” said defense lawyer Tim Pori after the verdict.
“No bank executives have been prosecuted,” Pori said. “Sure, there have been multibillion-dollar settlements with some big banks, but none of their officers – the ones who really pulled the strings – will ever see the inside of a cell.”
The star defense witness, none other than William Black, chimed in as well:
William Black, who boasts long academic and regulatory careers, was a key expert witness for the defense, again over Coppola’s objection. Black is an associate professor of economics and law at the University of Missouri, Kansas City, and the “distinguished scholar in residence for financial regulation” at the University of Minnesota’s School of Law.
His testimony purportedly connected the fraud in the Sacramento case directly to the lenders, and he explained to the jury why the false information on the applications had no bearing on lending decisions.
“This is the first time that the overwhelming fraud at the banks has been discussed in a criminal courtroom by the person with the greatest expertise on the issue, William Black,” said defense lawyer Toni White after the verdict.
“Prosecutors have refused to criminally prosecute the elite bankers responsible for the mortgage crisis that decimated our economy.
What do you think an up-listing would be? Listing on the NYSE would be up....listing. Wow, nice argument. I dont think they expected anybody to catch on to it. Anyway, the chart pretty much backs up the posting news and the AIG news. To tell you the truth, I dont think any of these, are THE news. Stay tuned.
Don't be surprised if you get a release from Fannie Mae about the Job posting.
Disclosure: I am long FNMA and am positive about the outcome of this stock.
I work for the Government and most Civilian Job postings are based off old core documents. This posting could be a generic job description that was automatically advertised when a position went vacant.
The job description specifically said "NYSE listing requirements"...it did not say "uplisting requirements" This stock was previously listed on the NYSE so this could simply be an old job description requiring the Attorney to have knowledge of stock exchange requirements.
Most Government job descriptions are not updated when positions become available because people are lazy. too busy, etc about updating the content of peoples jobs description. I've seen 20 year old job descriptions posted on USAJOBs.gov
IMO: This is a great story to pump the stock up on for a few days....then cause a dump of the price when the true nature of the position becomes apparent.
I think the courts will ultimately be the source of the real push higher in stock price.
They are moving into your house. The one that you will be foreclosing on when you get your margin call. I can't imagine the stress you must feel if you are short. Better get out while you can. Wait, what am I saying? Short everything you can. Team up with Heepunk and in addition to his double wide, put your Moped up for hock and short with that too.
Buy, Buy, Buy!
Pretty boring today til I got home and started analyzing the daily chart. I annotated it to send to a few buds out there. I have always said, about the time when it seems hope is lost, as we have seen lately with all the crying and whining, lol, is when we have found a bottom. I started to feel a bit of it too, and I like to trade opposite to my emotions, hence my attempts to explain that to others that seem to be panicking and posting over and over whining the other day. A link to my chart below explains how all the stars aligned today, and the news is pretty nice too. I think that the Fannie chart, and maybe Freddie, which I don't trade, are very indicative when they line up like this, of future news. I liked the above average volume. It seems our manipulators are running out of runway. See the buy volume drop completely off at the MA (50) today? Most buying, as indicated by NavyCommander earlier, was on the buy side. I didn't need to see that on a graph or chart, I watched L2 like a hawk this morning and it was very evident. Lots of fake ask blocks going up to scare buyers and initiate sellers to grab a .02 spread. I quit watching once I figure out "they" were not ready to let it go yet. Anyway, check out my chart, it should explain all. To be honest, and I hate to say this for I may potentially be heckled about it later, this may be the start of another monster run. Not the little 10-20% pops we have been accustomed to lately. Hope it works out.
http://stockcharts.com/c-sc/sc?s=FNMA&p=D...9197820879
My strategy is to take the GTC I had at 3.76 and cut it in half. I am going to use that first 50% to buy market order at the open. I will watch volume, because it is THE key here, and if it can sustain above average volume past the first 30 minutes, I will then find an entry for the other 50% I have waiting at my 3.76 GTC. I am absolutely not worried about the downside anymore, even if this fails tomorrow, I will be happy.
What is your strategy?
Your words are like an angelic choir to my ears. The PPS is going up!!!
You mean this response where the FNMA spokesperson said that it was basically a standard part of the job description that is part of the corporate by laws...so they have to say they need an attorney with NYSE listing experience.
"A spokesman for Fannie said the mortgage lender has “no plans” to list on the NYSE, and that the job listing for someone with knowledge of the NYSE listing requirements is based on Fannie’s corporate governance guidelines. “As noted in our Corporate Governance Guidelines…the director independence requirement is set forth in FHFA corporate governance regulation 12 C.F.R. 1710.10, which requires the standard of independence adopted by the NYSE,” the spokesman added."
please remember my disclosure said I am long FNMA and positive about the outcome of FNMA.
This could still be an advertisement with a 6 year old job description because the guy/gal they hired 6 years ago has left.
Also FHFA was created in 2008 per the FHFA website.
Enacted in response to the financial crisis of 2007-08, the Act created the Federal Housing Finance Agency (FHFA) as supervisor of the enterprises and the Banks (together, the regulated entities); abolished OFHEO and the FHFB; and transferred mission supervision of the enterprises from HUD to FHFA, thereby consolidating all supervision of the enterprises within FHFA.
Basically the FHFA was a consolidation of OFHEO and FHFB..so the position decription for the advertisement was probably updated in 2008. Fannie Mae has been around for years. They probably did a quick update in 2008 when the FHFA was created.
Fannie and Freddie weren't delisted until the summer of 2010.
FNMA Stock Message Board http://investorshangout.com/Fannie-Mae-FNMA-61730/
WONG!!!!
$$$$$FNMA$$$$$
This is not the worry now. Wind down speech is over.
Haha...won't know if we have great minds until we head higher. If we get faked out...that will suuuuuck
This is no '20 year old' job description. The FHFA has only been around for 6 years.
Quote:
KEY JOB FUNCTIONS
Provide advice and counsel on corporate governance and securities law matters, including Federal Housing Finance Agency, ‘34 Act, and NYSE listing requirements, among others.
Haha! Great minds think alike, eh?
Quote:
"You've got balls………….I like……balls"
Haha, not me, I don't like balls of course, lol. Tooottallly hetero here. Thought it was appropriate though. Market orders fall into that "faith" category. Good luck bud.
Lol....Duhhh...the majority of home buyers from a 2004 - a few years ago were in a different category....They were all totally credit based...Meaning...Drive by appraisals..., Lower rates for better credit scores which could be fudged......I never saw so many housewives that made 6 to 7,000 a month for being the "owner of a cleaning company"..fake documents were submitted to loans and prevalent at that time....The mortgage amount for the average person nearly tripled in their borrowing power!!!
Lol that is my strategy as well believe it or not. I plan to buy half of my shares now but I won't be buying the other half until we close over the 50 dma. I will play with the half and hey if this was really a headfake and we really drop to 3.76 or 3.70 (200 dma)...what can I say...I did my best with my limited ability. By playing with half now...I minimize my loss should this be a headfake. If this moves higher and I average up with my other half around 4.03/4.04...oh well at least my total average is lower
Understand. Seems you may have missed Fannie Mae response to this posting this afternoon. I recommend you either use your scroll down on your mouse and read the other posts, or do a Google search of their response. Its not an old listing.
Okay got it thanks.
“The indictment alleges that Charikov recruited his loan officer wife, Romanishin, 32, of West Sacramento; Tuzman, 42, of Citrus Heights; and Talybov, 32, of Antelope, as straw buyers in transactions involving the sale and purchase of two West Sacramento properties in 2006 and 2007.
“After the first set of straw buyers obtained the proceeds from Talybov’s fraudulent purchases, they allegedly split the take with Charikov. Subsequently, Talybov defaulted on loans for both properties.
All four were charged with fraud that resulted in alleged losses to the lenders of at least $710,000. Charikov and Tuzman were also charged with laundering their ill-gotten gains.”
Got it so far? The United States Attorney, in a hard-hit part of California, used its massive massive, taxpayer-funded resources, and made the decision to charge the low-level fraudsters, and none of the bankers. No plea deals were reached.
Instead, in an act of incredible lawyering, the defense attorneys turned the case on its head by arguing the real criminals were the banksters! Unbelievable.
Remember, to prove fraud, one element is reliance. That means the banksters, who lost the $710,000, had to prove that they relied upon the statements in the loan application to lend the money. The criminal defendants showed that the loans would have been made anyway, whether the application information was true or completely false. Thus, there was no reliance, an essential element, and the jury acquitted the criminal defendants. Brilliant, simply brilliant, and my hat is off to those fine lawyers who advocated a winning position. It was a risky move, too, one that drew sharp objections from the prosecution:
My point is that every company has attorney that need to be aware of listing requirements for the exchange they are listed on so they would need to be aware of the rules for maintaining the basic requirements for being/maintaining listing on that exchange.
Since Fannie was previously listed on the NYSE it makes sense that if they are replacing a vacant attorney that the position description would be contain a requirement for understanding NYSE listing requirements. Since the job description specifically contained a requirement for the NYSE that makes more sense that it is an old job description.
If they had updated the job description it would have stated something to the effect of being knowledge for requirements for maintain listing on the major US exchanges.
If the stock is to be uplisted, it would make sense for there to be competition for which exchange to be listed on at this point. The NASDAQ and the NYSE each have different listing requirements. Also, when the intent to uplist occurs there are SEC regulations to follow about seeking uplisting as well as specific time frames that have to be met.
It is not something that can be turned on over night. The relisting of American Airlines coming out of bankruptcy is a good example of how long it can take to relist and the various headaches/hurdles that Fannie and Freddie would have to go through to be relisted.
Just In: Acquittal - Real Fraudsters were the Banksters!
By California Lawyer Wednesday, August 27, 2014 at 4:12 pm
http://www.tfmetalsreport.com/comment/427226
(FYI I have'nt found the original source - read the online version, longer and quite funny)
Real estate flippers avoided criminal conviction because they argued, and persuaded the jurors, that the REAL criminals were the banksters!! No way!!!
“In an unprecedented trial, four people charged with mortgage fraud were acquitted Friday by a jury in Sacramento federal court after defense attorneys argued the real culprits are the so-called victim lenders.”
The winning defense attorney, naturally, highlighted the real issue:
““The big banks and other lenders made as many loans based on patently false information as they could, packaged them as securities and passed them up the chain to Wall Street’s investment and management bankers, who peddled them to an unsuspecting public,” said defense lawyer Tim Pori after the verdict.
“No bank executives have been prosecuted,” Pori said. “Sure, there have been multibillion-dollar settlements with some big banks, but none of their officers – the ones who really pulled the strings – will ever see the inside of a cell.”
The star defense witness, none other than William Black, chimed in as well:
William Black, who boasts long academic and regulatory careers, was a key expert witness for the defense, again over Coppola’s objection. Black is an associate professor of economics and law at the University of Missouri, Kansas City, and the “distinguished scholar in residence for financial regulation” at the University of Minnesota’s School of Law.
His testimony purportedly connected the fraud in the Sacramento case directly to the lenders, and he explained to the jury why the false information on the applications had no bearing on lending decisions.
“This is the first time that the overwhelming fraud at the banks has been discussed in a criminal courtroom by the person with the greatest expertise on the issue, William Black,” said defense lawyer Toni White after the verdict.
“Prosecutors have refused to criminally prosecute the elite bankers responsible for the mortgage crisis that decimated our economy.
What do you think an up-listing would be? Listing on the NYSE would be up....listing. Wow, nice argument. I dont think they expected anybody to catch on to it. Anyway, the chart pretty much backs up the posting news and the AIG news. To tell you the truth, I dont think any of these, are THE news. Stay tuned.
Don't be surprised if you get a release from Fannie Mae about the Job posting.
Disclosure: I am long FNMA and am positive about the outcome of this stock.
I work for the Government and most Civilian Job postings are based off old core documents. This posting could be a generic job description that was automatically advertised when a position went vacant.
The job description specifically said "NYSE listing requirements"...it did not say "uplisting requirements" This stock was previously listed on the NYSE so this could simply be an old job description requiring the Attorney to have knowledge of stock exchange requirements.
Most Government job descriptions are not updated when positions become available because people are lazy. too busy, etc about updating the content of peoples jobs description. I've seen 20 year old job descriptions posted on USAJOBs.gov
IMO: This is a great story to pump the stock up on for a few days....then cause a dump of the price when the true nature of the position becomes apparent.
I think the courts will ultimately be the source of the real push higher in stock price.
They are moving into your house. The one that you will be foreclosing on when you get your margin call. I can't imagine the stress you must feel if you are short. Better get out while you can. Wait, what am I saying? Short everything you can. Team up with Heepunk and in addition to his double wide, put your Moped up for hock and short with that too.
Buy, Buy, Buy!
Pretty boring today til I got home and started analyzing the daily chart. I annotated it to send to a few buds out there. I have always said, about the time when it seems hope is lost, as we have seen lately with all the crying and whining, lol, is when we have found a bottom. I started to feel a bit of it too, and I like to trade opposite to my emotions, hence my attempts to explain that to others that seem to be panicking and posting over and over whining the other day. A link to my chart below explains how all the stars aligned today, and the news is pretty nice too. I think that the Fannie chart, and maybe Freddie, which I don't trade, are very indicative when they line up like this, of future news. I liked the above average volume. It seems our manipulators are running out of runway. See the buy volume drop completely off at the MA (50) today? Most buying, as indicated by NavyCommander earlier, was on the buy side. I didn't need to see that on a graph or chart, I watched L2 like a hawk this morning and it was very evident. Lots of fake ask blocks going up to scare buyers and initiate sellers to grab a .02 spread. I quit watching once I figure out "they" were not ready to let it go yet. Anyway, check out my chart, it should explain all. To be honest, and I hate to say this for I may potentially be heckled about it later, this may be the start of another monster run. Not the little 10-20% pops we have been accustomed to lately. Hope it works out.
http://stockcharts.com/c-sc/sc?s=FNMA&p=D...9197820879
My strategy is to take the GTC I had at 3.76 and cut it in half. I am going to use that first 50% to buy market order at the open. I will watch volume, because it is THE key here, and if it can sustain above average volume past the first 30 minutes, I will then find an entry for the other 50% I have waiting at my 3.76 GTC. I am absolutely not worried about the downside anymore, even if this fails tomorrow, I will be happy.
What is your strategy?
Your words are like an angelic choir to my ears. The PPS is going up!!!
