GSE Links
Your Starting Point for GSE News, Resources, and Information
"Ultimately, Truth Prevails"


Message Boards
Google Groups
Google Groups #2
iHub - FNMA
iHub - FMCC
Yahoo Message Board
Corner of Berkshire & Fairfax Message Board

Blogs
Howard on Mortgage Finance
Fiderer on GSEs
Bill Maloni
The Truth about Fannie and Freddie
REFinBlog
Fannie Mae Shareholders - Blogspot
FHFA Insights

Other
Fannie & Freddie Secrets
Stocktwits - FNMA
Stocktwits - FMCC
Seeking Alpha - FNMA
Seeking Alpha - FMCC
GlenBradford.com
Investors Unite
Insiders' Game - Fannie Mae & Freddie Mac
GSE Opinions
Free Fannie Mae Facebook Page

Twitter
Info and News Media Twitter Handles
@timpagliara @mcelarier
@ckc12_rb @JoeSquawk (CNBC)
@dbracing01 @BeckyQuick (CNBC)
@NY1David - David Fiderer @JimCramer (CNBC)
@ethan2369 @HobbsieNY (CNBC)
@DoNotLose @RickSantelli (CNBC)
@30yrdream @DavidFaber (CNBC)
@JoshRosner @CarlQuintanilla (CNBC)
@fanofred_ @AndrewRSorkin (CNBC)
@led253 @GMorgenson (NY Times)
@hill_matt @CleaBenson (Politico)
@SleipnirPerkins @NickTimiraos (WSJ)
@_InvestorsUnite @CGasparino (Fox Business)
@RichardAEpstein @JonAPrior (Politico)
@pgray41 @theTreyGarrison
@FreeFannie @JoeLight (Bloomberg)
@nsintichakis @MarkCalabria (Cato Institute)
@D2_Duncan @levinsonc (Reuters)
@QTRResearch @jerome_corsi (Infowars)
@FannieGate101 Government
@mrfidlsticks @POTUS
@PTashner @realDonaldTrump
@LetgoofmyFannie @SenShelby
@BuchmanCraig @MaxineWaters
@denverprinter @MikeCapuano
@WildTwins1 @RepHensarling
@cevoltz @FSCDems
@TrainReckt @FinancialCmte
@jeremycain_usc @SenBobCorker
@aspit @kenblackwell
@Patswil @stevenmnuchin1
@SoCal4Lif
@FHFA
@FannieMae
@FreddieMac
$FNMA, $FMCC
#FannieGate


Reference
FNMA FMCC
Short Sales:  OTCMarkets.com   OTCShortReport.com Short Sales:  OTCMarkets.com   OTCShortReport.com
FNMA Real Time Level 2 Quotes FMCC Real Time Level 2 Quotes
Fannie Mae Price on German Market Freddie Mac Price on German Market

06/2017 - Blueprint for Restoring Safety and Soundness to the GSEs - Scribd
RNC Resolution on Protecting Taxpayers by Restoring Safety and Soundness to Government-Sponsored Enterprises – gop.com
Pro Publica Bailout List
12/05/2016 - The $187 Billion Fannie-Freddie Bailout Is a Big Half-Lie - Fiderer on GSEs
09/10/2015 - Forensic accounting in #FannieGate gets audited - HousingWire
02/15/2015 - After the Housing Crisis, a Cash Flood and Silence - NY Times
11/29/2011 - How Paulson Gave Hedge Funds Advance Word of Fannie Rescue - Bloomberg
07/08/2008 - Fannie, Freddie Adequately Capitalized: Lockhart - CNBC

Reference (pdf)
04/2015 - How the Fannie and Freddie Conservatorship Has Undermined the Resolution Process
03/18/2015 - Joshua Rosner - The Future of the U.S. Housing Finance System: Bringing the U.S. Residential Mortgage Finance System into the 21st Century - Scribd
02/09/2015 - The Conservatorships of Fannie Mae and Freddie Mac: Actions Violate HERA and Established Insolvency Principles - Michael Krimminger and Mark Calabria
01/11/2015 - Treasury, The Conservatorships and Mortgage Reform - Tim Howard
05/05/2014 - It's Time to Get Off Our Fannie - Pershing Square Presentation at the Ira Sohn Conference
04/13/2011 - Wall Street & the Financial Crisis-Anatomy of a Financial Collapse
09/17/2008 - The Counterfeiting of Shares of Fannie Mae and Freddie Mac
Amended and Restated SPSPA - FHFA.gov
Questions and Answers on Conservatorship - Treasury.gov

Video
05/03/2016 - Executive Privilege- Secrets of Fannie & Freddie - Youtube
02/16/2016 - Liberty’s Nemesis: The Unchecked Expansion of the State
02/21/2016 - Making a Bagholder - Episode 1
Reps Capuano, Duffy Interrogate Treasury Sec Jacob Lew
Rep. Mulvaney Questions FHFA Director Mel Watt
Rep Mulvaney Interrogation of Treasury Secretary Jacob (Jack) Lew
Fannie Mae and Freddie Mac Given Clean Bill of Health - Warren Buffett
Poliquin Questions Federal Housing Finance Agency Director Mel Watt
Royce Elicits Lew Support for GSE Reform Building Blocks, 6/17/2015
Rep. Hill questions Federal Housing Finance Agency Director at Financial Services Committee Hearing
Senator Warren Asks FHFA Director Mel Watt About Principal Reduction
FHFA's Role: Manage Fannie and Freddie Under Current Statutory Mandates
The Future of Fannie Mae and Freddie Mac
01/27/2015 - Mel Watt Speaking to the House Financial Services Comittee
2010 - Inside Job (Full Movie)
2008 - Larry Summers describes "stealth" program to feed banks $180 billion through GSEs

Court Filings
See the Court Filings Archive page for a longer list of the court filings.
GSE Litigation Summary - Bankrupt.com

Fairholme v. U.S.
05/17/2018 - Defendant’s Unopposed Motion to Stay Briefing and Consideration of Plaintiffs’ Motion for Joinder
05/11/2018 - Public Redacted Amended Complaint
05/10/2018 - Plaintiffs’ Motion for Joinder of Fannie Mae and Freddie Mac as Nominal Defendants and for Issuance of Summonses
02/21/2018 - Order
02/21/2018 - Plaintiffs’ Unopposed Motion for Enlargement of Time to File Amended Complaint
02/01/2018 - Amended Complaint for Declaratory and Injunctive Relief and Damages
07/09/2013 - Fairholme's Complaint

Perry v. Mnuchin
01/30/2018 - Reply Brief for Petitioners
12/11/2017 - Letter to the Court
07/17/2017 - Order

Cacciapalle v. U.S.
03/08/2018 - First Amended Consolidated Class Action Complaint
02/21/2018 - Order
02/21/2018 - Plaintiffs’ Unopposed Motion for Enlargement of Time to File Amended Complaint
06/13/2013 - Class Action Complaint

Saxton v. FHFA (Iowa)
05/14/2018 - Letter to the Court
05/08/2018 - Letter to the Court
12/07/2017 - Letter to the Court
12/01/2017 - Letter to the Court
05/28/2015 - Plaintiffs’ Complaint for Declaratory and Injunctive Relief and Damages

Washington Federal v. U.S.
02/21/2018 - Order
02/21/2018 - Plaintiffs’ Unopposed Motion for Enlargement of Time to File Amended Complaint
06/10/2013 - Washington Federal Original Complaint

Rafter v. U.S.
05/10/2018 - Order
05/09/2018 - Defendant’s Motion to Stay Briefing and Consideration of Plaintiffs’ Motion for Joinder or, in the Alternative, Motion for Enlargement of Time
04/30/2018 - Plaintiffs’ Motion for Joinder of Federal National Mortgage Association as a Nominal Defendant and for Issuance of a Summons
04/20/2018 - Second Amended Verified Complaint
02/21/2018 - Plaintiffs’ Unopposed Motion for Enlargement of Time to File Second Amended Complaint

Arrowood v. U.S.
03/08/2018 - Amended Complaint
02/21/2018 - Order
02/21/2018 - Plaintiffs’ Unopposed Motion for Enlargement of Time to File Amended Complaint
09/18/2013 - Arrowood Indemnity Initial Complaint

Jacobs and Hindes v. FHFA (Delaware)
05/11/2018 - Letter to the Court
05/03/2018 - Statement by Appellants Requesting Oral Argument
04/26/2018 - Brief of Defendants-Appellees Federal Housing Finance Agency…
04/26/2018 - Brief for the Treasury Department
01/18/2018 - Briefing and Scheduling Order
08/17/2015 - Class Action and Derivative Complaint

Piszel v. U.S.
08/22/2017 - Reply Brief of Petitioner
08/11/2017 - Brief for the United States in Opposition
06/12/2015 - Memorandum Opinion and Order 

Robinson v. FHFA (Kentucky)
02/05/2018 - Application to the Hon. Elena Kagan for an Extension of Time Within Which to File a Petition for a Writ of Certiorari...
11/22/2017 - Opinion
10/23/2015 - Plaintiff’s Complaint for Declaratory and Injunctive Relief

Roberts v. FHFA (Illinois)
05/03/2018 - Opinion
02/22/2018 - Letter to the Court
12/07/2017 - Letter to the Court
02/10/2016 - Plaintiffs’ Complaint for Declaratory and Injunctive Relief

Reid v. U.S.
02/21/2018 - Order
02/21/2018 - Plaintiffs’ Unopposed Motion for Enlargement of Time to File First Amended Consolidated Derivative Complaint
02/26/2014 - Verified Shareholder Derivative Complaint

Fisher v. U.S.
02/21/2018 - Order
02/21/2018 - Plaintiffs’ Unopposed Motion for Enlargement of Time to File Second Amended Consolidated Derivative Complaint
08/26/2013 - Verified Shareholder Derivative Complaint

Collins v. FHFA
05/08/2018 - Letter to the Court
02/06/2018 - Letter to the Court
02/06/2018 - Letter to the Court
10/20/2016 - Plaintiffs’ Complaint for Declaratory and Injunctive Relief

Rop v. FHFA
05/10/2018 - Notice of Supplemental Authority by the Department of the Treasury
02/15/2018 - Plaintiffs’ Response to FHFA’s Notice of Supplemental Authority Concerning PHH v. CFPB
02/15/2018 - Plaintiffs’ Response to Treasury’s Notice of Supplemental Authority Concerning California State Teachers’ Retirement System v. Alvarez
06/01/2017 - Plaintiffs’ Complaint for Declaratory and Injunctive Relief

Bhatti v. FHFA
05/10/2018 - Notice of Supplemental Authority
01/12/2018 - Motion Hearing Transcript
01/31/2018 - Notice of Supplemental Authority
01/22/2018 - Order
08/04/2017 - Plaintiffs’ First Amended Complaint for Declaratory and Injunctive Relief

Cause of Action Institute v. DOJ
07/18/2017 - Complaint

Voacolo v. Fannie Mae (New Jersey)
05/04/2018 - Order
05/03/2018 - Order Granting Motion to Intervene (Unopposed)
03/26/2018 - Notice of Motion to Dismiss Complaint Pursuant to FED.R.CIV.P. 12(b)(1) and 12(b)(6)
03/26/2018 - Notice of Motion to Intervene Pursuant To FED.R.CIV.P. 24 (Unopposed)
03/26/2018 - Memorandum of Law in Support of the United States Department of the Treasury’s Motion to Dismiss the Complaint
08/02/2017 - Verified Class Action Complaint

Owl Creek v. U.S.
04/25/2018 - Order
04/24/2018 - Order
04/24/2018 - Defendant’s Unopposed Motion for Enlargement of Time
04/23/2018 - Plaintiffs’ Joint Unopposed Motion to Coordinate
02/23/2018 - Complaint

Appaloosa v. U.S.
05/10/2018 - First Amended Complaint
05/10/2018 - Order
05/09/2018 - Unopposed Motion to Amend Complaint
03/08/2018 - Complaint

Akanthos v. U.S.
03/08/2018 - Complaint

CSS v. U.S.
03/08/2018 - Complaint

Mason Capital v. U.S.
04/11/2018 - Complaint

Archives
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015

In the News
Friday May 18th 2018
Fannie Mae Advocacy Ban Doesn't Stop Lawyer From Pushing Views - Bloomberg
GOP to investigate Fannie Mae's reported lobbying violation - Washington Examiner
Hensarling: ‘Congress Must Enact Sustainable Housing Finance Reform’ - DS News

Thursday May 17th 2018
New filing in the Fairholme case, click here to view.
Peter Chapman writes, "The government is asking Judge Sweeney, as she did in the Rafter case, to stay briefing on the question of joining the GSEs to the litigation until 14 days following her decision on the government's motion to dismiss. Fairholme doesn't oppose the request."
White House Could Preempt Congress' Inaction on GSEs - Mortgage News Daily
"Rep. Hensarling on what he wants to see new FHFA Director -- or legislation -- do with GSEs..." via @zigassoc - Twitter
Bill Ackman Comments on Fannie Mae and Freddie Mac - gurufocus.com
Jeb Hensarling says he won’t seek Trump nomination, will return to Texas - Washington Examiner
In making his remarks, Hensarling took himself out of consideration to become the regulator in charge of the bailed-out mortgage giants Fannie Mae and Freddie Mac, which he has pushed to reform."

Wednesday May 16th 2018
Ten Years of Conservatorship: The Status of the Housing Finance System - senate.gov
Occurs Wednesday, May 23, 2018
Coming Uniform MBS Could Have Side Effects for Fannie Mae - Inside Mortgage Finance

Tuesday May 15th 2018
New filing in the Saxton case, click here to view.
Peter Chapman writes, "The Saxton Plaintiffs sent a letter to the Eighth Circuit yesterday urging the Court not to embrace the Seventh Circuit's Roberts decision as quickly as FHFA encourages."
New recording in the Saxton case.
Peter Chapman writes, "The Saxton case was argued before the Eighth Circuit this morning, and an audio recording of the 40-minute hearing is available at http://media-oa.ca8.uscourts.gov/OAaudio/2018/5/171727.MP3 at no charge."
"Fed vice chair nominee Richard Clarida on Fannie, Freddie conservatorship..." via @josephlawler - Twitter
Fannie Mae Announces Sale of Non-Performing Loans - PR Newswire
Eighth Circuit Hears Dispute Over Mortgage Profits - Courthouse News Service
Trump administration officially nominates Michael Bright to lead Ginnie Mae - HousingWire

Monday May 14th 2018
Freddie Mac adds John Krenitsky as SVP, chief compliance officer - HousingWire
GSE Credit Window for Purchase Loans Opened Slightly in 1Q18 - Inside Mortgage Finance

Friday May 11th 2018
New filing in the Jacobs and Hindes case, click here to view.
Peter Chapman writes, "FHFA sent the Third Circuit a letter advising the court about the Seventh Circuit's decision affirming dismissal of the Roberts Plaintiffs' lawsuit."
New filing in the Fairholme case, click here to view.
Peter Chapman writes, "Fairholme filed a redacted copy of its amended complaint in the U.S. Court of Federal Claims this evening."
Incumbents Beware: Mortgage Market Conditions Can Tip the Next Election - Investors Unite
How Will Delays in GSE Reform Impact Housing? - The MReport
FHFA releases plan to increase access to credit for limited English proficiency borrowers - HousingWire

Thursday May 10th 2018
New filing in the Fairholme case, click here to view.
Peter Chapman writes, "Mirroring the Rafter Plaintiffs' request, Fairholme ask Judge Sweeney to join Fannie Mae and Freddie Mac as nominal defendants in its lawsuit against the government."
New notation in the Fairholme case.
Peter Chapman writes, 'The Court Clerk made a notation on the docket sheets in Fairholme v. U.S., Arrowwood v. U.S., Cacciapalle v. U.S., Fisher v. U.S., Rafter v. U.S., and Washington Federal v. U.S., this afternoon saying, "On May 9, 2018, the court received a written ex parte communication--a letter--from a Fannie Mae/Freddie Mac shareholder. The court did not read the letter; instead, it directed the clerk of court to return the letter to the shareholder. The court has not, and will not, entertain ex parte communications from Fannie Mae/Freddie Mac shareholders."'
Peter Chapman continues, "The Court Clerk made a similar notation today on the docket sheets in Akanthos v. U.S., Appaloosa v. U.S., CSS v. U.S., Mason Capital v. U.S., and Owl Creek v. U.S."
New filing in the Appaloosa case, click here to view.
Peter Chapman writes, "Judge Sweeney entered an order this morning granting Appaloosa's request to amend its complaint to add Palomino as a plaintiff."
2nd filing in the Appaloosa case, click here to view.
Peter Chapman writes, "Appaloosa formally filed its First Amended Complaint this afternoon."
New filing in the Rafter case, click here to view.
Peter Chapman writes, "Judge Sweeney entered an order this morning placing the Rafter Plaintiffs' request to add Fannie Mae as a nominal defendant on hold until 14 days after she rules on the government's omnibus motion to dismiss."
New filing in the Bhatti case, click here to view.
Peter Chapman writes, "Treasury delivered a copy of the Seventh Circuit's decision upholding dismissal of the Roberts Plaintiffs' lawsuit to Judge Schiltz today."
New filing in the Rop case, click here to view.
Peter Chapman writes, "Treasury delivered a copy of the Seventh Circuit's decision in Roberts v. FHFA to Judge Maloney today, urging him to follow the Seventh Circuit's reasoning and dismiss the Rop Plaintiffs' lawsuit."
Appellate court: Fannie, Freddie investors can’t sue federal agency for diverting profits to US Treasury - Cook County Record
RBS reaches $4.9 billion deal to settle U.S. mortgage bond investigation - Reuters

Wednesday May 9th 2018
New filing in the Saxton case, click here to view.
Peter Chapman writes, "FHFA advised the Eight Circuit yesterday about the government's recent victory in the Seventh Circuit."
New filing in the Jacobs and Hindes case, click here to view.
Peter Chapman writes, "Messrs. Jacobs and Hindes have asked the Third Circuit to entertain oral argument."
New filing in the Appaloosa case, click here to view.
Peter Chapman writes, "With the government's consent, Appaloosa is amending its complaint to add Palomino Fund Ltd. as a plaintiff in its lawsuit challending the Net Worth Sweep."
New filing in the Collins case, click here to view.
Peter Chapman writes, "FHFA alerted the Fifth Circuit yesterday about the government prevailing in the Seventh Circuit."
New filing in the Rafter case, click here to view.
Peter Chapman writes, "Our government wants Judge Sweeney to place the Rafter Plaintiffs' request to add Fannie Mae as a nominal defendant on hold until she has ruled on its omnibus motion to dismiss. Alternatively, the government suggests that it respond to the Rafter Plaintiffs' request to add Fannie Mae as a nominal defendant on Jan. 18, 2019, which is 30 days after briefing on the omnibus motion to dismiss concludes."
GSE Reform Is Dead – Long Live GSE Reform! - Urban Institute
Will Trump win in 2020? Look to the mortgage market - The Hill

Tuesday May 8th 2018
New filing in the Voacolo case, click here to view.
Peter Chapman writes, "Judge Martinotti entered an order last week granting FHFA and Treasury's motions to dismiss Mr. Voacolo's complaint because he didn't file any response."
Fannie Mae Promotes Kimberly Johnson From Chief Risk Officer To COO - Forbes
What the $15 Billion Rescission Proposal Could Mean for Housing and Community Development - novoco.com

Monday May 7th 2018
GSE Investors Lose Roberts Case - Seeking Alpha by Glen Bradford
Freddie Mac Is Quietly Helping Out the U.S.'s New Mortgage Kings - Bloomberg
Fannie Mae and Freddie Mac press further into rental housing - Financial Times
GSE Mission Drift - American Action Forum
Figuring Out Who Might Succeed Mel Watt as FHFA Director – It’s Complicated… - Inside Mortgage Finance

Sunday May 6th 2018
Slow Going, Not Many GSE Cats and Dogs - Bill Maloni's GSE Blog

Friday May 4th 2018
Karen Petrou on Why Treasury Will Recraft Housing Finance - fedfin.com
BRIEF-Fannie Mae Announces Fourth And Fifth Front-End Credit Insurance Risk Transfer Transactions - Reuters

Thursday May 3rd 2018
New filing in the Voacolo case, click here to view.
Peter Chapman writes, "Magistrate Goodman entered an order this morning allowing FHFA to intervene in Mr. Voacolo's lawsuit."
New filing in the Roberts case, click here to view.
Peter Chapman writes, "The Seventh Circuit released its opinion today affirming the District Court's ruling dismissing the Roberts Plaintiffs' lawsuit."
A View on Affordable Housing - Howard on Mortgage Finance
Another Year, Another Reminder the Net Worth Sweep Must End - Investors Unite
Fannie Mae Reports Net Income of $4.3 Billion and Comprehensive Income of $3.9 Billion for First Quarter 2018 - fanniemae.com
Fannie Mae reports comprehensive income of $3.9 billion - HousingWire
BRIEF-Fannie Mae Posts Quarterly Net Interest Income Of $5.23 bln - Reuters
Fannie Mae's (FNMA) CEO Tim Mayopoulos on Q1 2018 Results - Earnings Call Transcript - Seeking Alpha
Fannie Mae Moves in a Positive Direction - The MReport
Fannie Mae Has a Blowout 1Q18, Will Make a $938M Dividend Payment to Treasury - Inside Mortgage Finance
FHFA Updates Progress on Fannie Mae and Freddie Mac Credit Risk Transfer Programs - fhfa.gov
NAR Sees $6.5B in GSE Profits and Asks the FHFA for Reductions in G-Fees, More - Inside Mortgage Finance
Short Takes: Investors Unite: Mel Watt is the Only One ‘Tuned into Reality’... - Inside Mortgage Finance

Wednesday May 2nd 2018
“Looking at” GSE Reform for Ten Years – and Counting - Investors Unite
Freddie Mac CEO: Our Greatest Innovation Is Credit Risk Transfer - GlobeSt.com

Tuesday May 1st 2018
Freddie Mac Reports Net Income of $2.9 Billion and Comprehensive Income of $2.2 Billion for First Quarter 2018 - freddiemac.com
Freddie Mac Q1 earnings increase driven by tax reform - HousingWire
Freddie Mac's (FMCC) CEO Don Layton On Q1 2018 Results - Earnings Call Transcript - Seeking Alpha
Fannie Mae CEO on potential privatization - Fox Business Video
"@RepHensarling on housing finance: Favor Ginnie Mae like wrap over private label RMBS and phase out (not liquidate) $FNMA/$FMCC..." via @apark_
The GSE Reform Bust Blues: Worrying About Mel Watt’s (Potential) Successor at the FHFA - Inside Mortgage Finance
BRIEF-Fannie Mae Prices $1.05 Bln Connecticut Avenue Securities Risk Sharing Deal - Reuters
Mnuchin: GSE reform isn’t happening in 2018 - HousingWire
Freddie Mac's risk-sharing success may help lower G-fees - National Mortgage News
Freddie Mac grows multifamily guarantee portfolio by 30% in one year - HousingWire

Monday April 30th 2018
New filings in the Jacobs and Hindes case.
17-3794-0018
17-3794-0019
Peter Chapman writes, "Treasury and FHFA filed their briefs in the Third Circuit last week."
New filing in the Rafter case, click here to view.
Peter Chapman writes, "The Rafter Plaintiffs ask Judge Sweeney to join Fannie Mae as a nominal defendant to their lawsuit in the U.S. Court of Federal Claims against the government. The Rafter Plaintiffs tell Judge Sweeney that joinder is necessary at this time for the court to properly consider the Rafter Plaintiffs' derivative shareholder claims. The government has advised the Rafter Plaintiffs it opposes the request, saying it is premature, and Fannie Mae's indicated it opposes the request."
Mnuchin on the future of Fannie Mae and Freddie Mac - Fox Business Video
Treasury unveils ‘fix’ for restoring Fannie Mae, Freddie Mac - Fox Business
Steven Mnuchin: Legislation on Fannie, Freddie won't happen this year - Washington Examiner
GSE reform unlikely to happen this year: Mnuchin - American Banker
Mnuchin wants GSE reform in 2019. There's a problem with that - American Banker
Analyst Now Sees Less Than 10% Chance Congress Tackles Fannie, Freddie Reform This Year - benzinga
Fannie Mae Announces Scheduled Release of First Quarter 2018 Financial Results - markets.businessinsider.com
"Fannie Mae today announced plans to report its first quarter 2018 financial results on Thursday morning, May 3, 2018, before the opening of U.S. financial markets."

Friday April 27th 2018
New Mortgage Bonds May Prove a Double-Edged Sword for Investors - Bloomberg
What We’re Hearing: GSE Reform? How About 2021? / The Return of Ed DeMarco? / No Political ‘Protection’ for Fannie and Freddie... - Inside Mortgage Finance

Thursday April 26th 2018
Redacted Complaint Analysis Reveals Clues About GSE Discovery Material - Seeking Alpha by Glen Bradford
US housing: how Fannie Mae and Freddie Mac became rental powerhouses - Financial Times
Freddie Mac takes aim at FHA with widespread expansion of 3% down mortgages - HousingWire

Wednesday April 25th 2018
New filing in the Owl Creek case, click here to view.
Peter Chapman writes, "To keep her docket tidy, Judge Sweeney entered an order this afternoon denying the government's request for the 66-day extension as moot."
Sen. Crapo Says GSE Reform Still Possible in This Congress (You Heard That Right) - Inside Mortgage Finance
Blog: GSE reform remains elusive - Scotsman Guide

Tuesday April 24th 2018
New filings in the Owl Creek case.
18-00281-0008
18-00281-0009
Peter Chapman writes, "The government's responses to Owl Creek, Appaloosa, Akanthos, CSS and Mason Capital's complaints were technically due today. Without objection from the five shareholders, the government obtained a 66-day extension to file its responses to the five latest shareholder lawsuits. A copy of the government's request is (linked above), as well as Judge Sweeney's order placing the five lawsuits on the same timetable as the other cases pending before her."
"Mark Warner addresses Fannie/Freddie at ABA meeting..." via @josephlawler - Twitter
Stars May be Aligned for Strong Profits at Fannie and Freddie - Inside Mortgage Finance
The Fed is not in the mood for ferocity, says former vice chairman Blinder - MarketWatch

Monday April 23rd 2018
New filing in the Owl Creek case, click here to view.
Peter Chapman writes, "Owl Creek, Appaloosa, Akanthos, CSS and Mason Capital ask Judge Sweeney to place their lawsuits on the same timetable as the other cases pending before the U.S. Court of Federal Claims. The government has indicated that it supports the request, and the the GSE shareholders have agreed not to amend their complaints."
Fannie Mae Announces Updates to its Mortgage-Backed Securities (MBS) Prospectus to Support Connecticut Avenue Securities (CAS) REMIC - PR Newswire
Sam Khater named vice president and chief economist at Freddie Mac - HousingWire

Friday April 20th 2018
New filing in the Rafter case, click here to view.
Peter Chapman writes, "The Rafter Plaintiffs filed a redacted version of their second amended complaint this afternoon in the U.S. Court of Federal Claims. The Rafter Plaintiffs discuss, at pp. 25-36, the government abandoning its commitment to restore the GSEs safety and solvency and its 2011 proposal to wind the GSEs down; Fannie and Freddie's record profit projections that followed that change; and the imposition of the Net Worth Sweep in 2012; and, at pp. 44-47, the Fourth Amendment to the PSPAs. The Rafter Plaintiffs include a new claim for relief, at pp. 57-58, asking Judge Sweeney to reform the Third Amendment and undo the damage done to GSE shareholders."
Housing Finance Reform: A Better Way (Mutalization of Risk Among Investors, Just Not The Federal Government) - confoundedinterest.net
House Examines GSE Conservatorship, but Reform Remains Stalled - The Collingwood Group: Voice of Housing

Thursday April 19th 2018
FHFA Under Pressure to Act More Like a Bank Regulator with Fannie & Freddie - Inside Mortgage Finance
"Fed Vice Chairman Quarles says a government backstop is "probably not" essential to keep the 30-year fixed rate mortgage" via @Zachary - Twitter
Fed’s Quarles: 30-year fixed-rate mortgage ‘probably’ doesn’t need government backstop - MarketWatch
U.S. Fed buys $2.3 bln of mortgage bonds, sells $400 mln - nasdaq.com

Wednesday April 18th 2018
MBA Casts the Net Far and Wide for New Chief. Jeb Hensarling? - Inside Mortgage Finance

Tuesday April 17th 2018
Fannie and Freddie survive another Congress - Washington Examiner
Duck Folks, they are throwing marshmallows at us! - Bill Maloni's GSE Blog
Fannie Mae and Freddie Mac Continue to Dominate Apartment Lending - National Real Estate Investor

Monday April 16th 2018
New filing in the Bhatti case, click here to view.
Peter Chapman writes, "The Clerk released a transcript of the Dec. 21 hearing before Judge Schiltz to the public late last week. The court docket shows that copies of the transcript were requested by (i) FHFA's lawyers at Arnold & Porter; (ii) counsel to Mr. Bhatti; (iii) James Wasicek at Covington & Burling; (iv) Antonio Grassia in Manhattan; (v) Christine ChaseCarpino at Robbins, Russell, Englert, et al.; and (vi) Shary Kapoor at Silver Point Capital while it was embargoed for 120 days."
Lawmakers examine FHFA effectiveness - Financial Regulation News
Pershing Square Doubles Down on its GSE Bets - Inside Mortgage Finance

Friday April 13th 2018
New note in the Saxton case.
Peter Chapman writes, "The Eighth Circuit has scheduled oral argument for Tues., May 15, 2018, in St. Paul, Minn., before Judges Duane Benton, Jane Kelly and David R. Stras."
New filing in the Fannie/Freddie Consolidated Class Action case, click here to view.
Peter Chapman writes, "Fairhome and Arrowood tell Judge Lamberth that FHFA is mistaken, and ask him for permission to file a short surreply directing the Court's attention to the six specific allegations in their amended complaints that, consistent with the D.C. Circuit's decision in Perry, say shareholders' contract claims are ripe."
2nd filing in the Fannie/Freddie Consolidated Class Action case, click here to view.
Peter Chapman writes, "FHFA opposes Fairholme and Arrowood's request to file a surreply."
OIG says FHFA Practices Need Improvement, Lots of It. - Mortgage News Daily

Thursday April 12th 2018
House Hearing Questions FHFA’s Oversight of Fannie, Freddie. IMAGIN? - Inside Mortgage Finance
Congress Must Protect Taxpayers From The Menace Of Fannie And Freddie - The Daily Caller
Regulators are fueling another housing boom - American Banker
Oral Argument Bhatti v. FHFA - Dropbox

Wednesday April 11th 2018
A new lawsuit has been filed, Mason Capital v. United States. Click here to view.
Peter Chapman writes, "Mason Capital L.P. and Mason Capital Master Fund L.P. filed a lawsuit against the government in the U.S. Court of Federal Claims today. Mason Capital is represented by the same team of Jones Day lawyers representing Owl Creek, Appaloosa, Akanthos and CSS. Mason Capital owned more than $1.1 billion of junior preferred stock in the GSEs as of Aug. 16, 2016. Because this case is related to the other cases complaining about the Net Worth Sweep, it's been assigned to Judge Sweeney."
New filing in the Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations, click here to view.
Peter Chapman writes, 'FHFA tells Judge Lamberth to ignore the Class Plaintiffs' proposed surreply because they're not entitled to a "do over."'
The Final Nail in the GSE Reform Coffin: Creation of the $3B Capital Buffer? - Inside Mortgage Finance
The wasteful spending at Fannie Mae and Freddie Mac must end - The Hill
Where are the GSEs 10 Years After the Financial Crisis? - American Action Forum
Fannie Mae’s Jeffery Hayward Talks Affordable Housing, Millennials and Zoning - Commercial Observer

Tuesday April 10th 2018
GSE Receivership Avoided - Seeking Alpha by Glen Bradford
Home buyers taking on more debt - Seeking Alpha
Analysts expect to give high credit rating to GSE successors - National Mortgage News
Congressional Reforms to Federal Mortgage Providers Would Affect Interest Rates, Loans - fcnp.com

Monday April 9th 2018
Minneapolis Fed's TBTF plan has some GSE-sized holes - American Banker
Government Policy Mistakes Led to the Great Recession - economics21.org
The article contains a brief GSE mention.
Bankers push for less regulation - Long Island Business News

Friday April 6th 2018
Hearing entitled “Oversight of the Federal Housing Finance Agency” - house.gov
Occurs Thursday, April 12, 2018 10:00 AM
"another important player moving over to Freddie..." via @ARiquier - Twitter

Thursday April 5th 2018
New filing in the Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations, click here to view.
Peter Chapman writes, "The Class Plaintiffs delivered a proposed surreply to Judge Lamberth this afternoon to clarify that, although FHFA wants to argue that shareholders' claims aren't ripe for consideration, they're ripe because the Net Worth Sweep eviscerated shareholders' economic interests in their securities and because the D.C. Circuit said they are ripe in the Perry decision."
What Fueled the Financial Crisis? - Urban Institute
An Analysis of the Performance of Purchase and Refinance Loans
How Freddie Mac Rejuvenates and Diversifies ‘Mom-and-Pop’ Building Owners - nextcity.org
GSE Market Thuds to a Two-Year Low in 1Q18 - Inside Mortgage Finance

Wednesday April 4th 2018
Trouble Brewing for Fannie and Freddie in High DTI Market? - Inside Mortgage Finance
Christopher Herbert Elected to Freddie Mac Board of Directors - The MReport

Tuesday April 3rd 2018
Government Controlled Companies Got A $4 Billion Bailout Last Week – And Nobody Noticed - The Political Insider
"Per @MarkCalabria this morning:
1) too many barriers currently for legislative reform- maybe over next Congress..." via @JohnDee78791547 - Twitter
The Vampire’s Kiss: Seizure of Fannie Mae and Freddie Mac Hurt Small Investors Too Such As Small Banks (Puerto Rico Analogy) - confoundedinterest.net
Ackerman’s Take: Fannie-Freddie Deal Unlikely This Year - The Wall Street Journal
Subscription required for access.
The Policy Makers - DS News
Investors Remain Bullish on GSEs’ Credit Risk Transfer Program - The MReport

Monday April 2nd 2018
Gary Hindes received a letter from a Kansas bank about their stock holdings in the GSEs.
Mr. Hindes writes, "“In response to my article last week in the American Banker  (https://www.americanbanker.com/opinion/this-isnt-a-bailout-this-is-return-of-stolen-funds), I received a letter from the president of a small-town bank in rural Kansas.  I have been given permission to share it." (Link to Letter).
Mr. Hindes continues, 'Most people are unaware of the fact that after Treasury Secretary Henry Paulson showed up at Fannie Mae headquarters on September 6, 2008 with his bazooka, 15 community banks were seized by the FDIC after being forced to write off their Fannie and Freddie preferred stock holdings – their shareholders were, of course, wiped out.  (Fortunately, the dozens of other community banks which also held Fannie and Freddie securities had enough capital to withstand the write-down – although that meant billions of dollars were no longer available to lend in their local communities.)  Ironically, after closing the 15 banks, the FDIC, as Receiver, aggregated their Fannie and Freddie holdings and sold them, at deep discounts, to the very hedge funds which Treasury, DOJ, and the GSE-haters have ever since demonized as “speculators”.'
Apathy Setting in on GSE Legislation. Industry Focus Shifts to Reg Reform - Inside Mortgage Finance
Fannie Mae Completes 2018’s First Credit Insurance Risk Transfer - DS News
Trump to nominate ex-banker Muzinich to top Treasury role - Politico
"As deputy secretary, (Muzinich is) expected to focus on implementation of the tax plan, housing finance reform, international affairs and other key Treasury agenda items."
Five Star Government Forum Unites Banking and Government Leaders - DS News





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