Fannie Mae

  • News

    Another Hedge Fund Admits Getting Fannie, Freddie Back Maybe Not The Slam-Dunk It Appeared

    There is much handwringing in certain hedge-fund capitals over the demise of AbbVie’s $54 billion deal to buy an Irish pharma whose only attraction, apparently, was a lower tax bill. Many performance points were lost. But AbbVie’s post-Jack Lew change of heart re: Shire is not the only bloodbath that has hedge funds reeling. As previously […]

    / Nov 20, 2014 at 12:07 PM
  • But does it have an ice-skating rink?


    Fannie Mae Looking For New Home With That New No-Stench-Of-Failure Smell

    With its eventual fate still up in the air, Fannie Mae is making plans for the future—by selling its famed colonial-mansion style headquarters in Washington. So if you’re in the market for 228,000 square feet of crumbling office space, or are looking to give your kids the easiest walk to Sidwell Friends ever, give Fannie […]

    / Aug 28, 2014 at 1:29 PM
  • Hedge Funds

    Wait! Bill Ackman Has Something Else To Say!

    Between suing the government for taking all of the profits from two companies that it began taking all of the profits from more than a year before he bought 10% of each of them, and Friday morning, the Pershing Square Capital Management chief had another brilliant idea, and decided to sue the government again.

    / Aug 18, 2014 at 4:45 PM
  • 0409_bill-ackman_416x416


    Bill Ackman Doing Alright For Himself This Year

    No one has made Herbalife “disappear” yet, as he recently requested, but Pershing was up 11.7 percent through February, and that’s something worth celebrating. Not crying tears of joy over, but raising a glass to, nonetheless. You want wet, raw, uncontrollable displays of emotion, you’re going to need to take Herbalife out in the middle […]

    / Mar 4, 2014 at 3:42 PM
  • Hedge Funds

    Bruce Berkowitz Lets Fannie, Freddie Boards Know What He Really Thinks

    In short, he is not happy with them at all, and is not letting them off the hook by focusing the litigious side of his displeasure on the Treasury.

    / Mar 3, 2014 at 3:54 PM
  • Hedge Funds

    Bill Ackman Thrilled Other People Are Suing Over Fannie, Freddie

    The Pershing Square chief thinks that Fairholme Capital and Perry Capital will win their lawsuits re: the government stealing Fannie Mae and Freddie Mac from their shareholders and directing every last cent of profit into Jack Lew’s slush fund. And he’s figured out how to make even more money from said victory than they will: […]

    / Feb 24, 2014 at 3:16 PM
  • Banks

    Former Bank Gets Extra $3.7 Billion Or So To Play Around With

    Lehman Brothers was perhaps not as extremely well-capitalized or strongly liquid as Dick Fuld claimed, but its corpse is looking pretty well-capitalized today.

    / Feb 20, 2014 at 12:55 PM
  • van buren boys hand signal


    Exactly What Kind Of “Hand Signals,” Ringtones Did Traders Use To Front-Run Fannie Mae, Freddie Mac?

    Wall Street traders may be manipulating a key derivatives market and front running Fannie Mae and Freddie Mac, hurting the US-owned mortgage giants in the process, according to an FBI intelligence bulletin reviewed by Reuters. Using what Federal Bureau of Investigation agents described as “unsophisticated tradecraft,” such as hand signals and special telephone ring tones, […]

    / Jan 14, 2014 at 2:07 PM
  • News

    Fannie, Freddie May Have Something To Share

    Turns out that all of those record profits that Fannie Mae and Freddie Mac are turning over to the Treasury don’t so much account for a few billion dollars in losses on delinquent mortgages.

    / Aug 20, 2013 at 3:58 PM
  • News

    Fannie Mae Doubles Up Freddie Mac

    And the party continues at 1500 Pennsylvania Avenue.

    / Aug 8, 2013 at 2:49 PM
  • Bob Corker. I have some difficulty believing this is a real picture of him.


    You’ve Got Five More Years To Trade Fannie And Freddie Preferred Stock

    Over on the imaginary stock markets where Fannie Mae and Freddie Mac trade they’ve had a rough day, with FNMA and FMCC common stock each down almost 13% and the preferred … um … down surprisingly small amounts but, y’know, on light volume. The impetus is presumably this: A bipartisan group of senators on Tuesday […]

    / Jun 25, 2013 at 5:47 PM
  • Daniel Mudd seems as good a scapegoat as anyone for this picture. He's not involved in the suing though.


    Fannie And Freddie Shareholders Politely Ask For Their Companies Back

    There’s an alternative theory of the 2007-2008 financial crisis in which it was just a minor hiccup that would have worked out fine for all concerned if the meddling U.S. government hadn’t been so trigger-happy in bailing out basically sound but momentarily embarrassed financial institutions.1 I mean, you probably won’t actually run into anyone who […]

    / Jun 11, 2013 at 12:16 PM
  • Jes Staley


    Jes Staley Thinks That One Day Investors Will Be Able To Understand Banks

    The basic thing about investing in big banks’ unsecured debt is that once upon a time it was a pseudo-risk-free proposition because, like, it’s a bank, what could possibly go wrong,1 and now it’s like,2 hi, you are buying the mezzanine (call it 10-to-30%-loss3) tranche in an actively traded and extremely opaque CDO full of […]

    / Jun 4, 2013 at 5:38 PM
  • I now this is a boring picture but it is a little weird that Fannie basically works out of a suburban castle, no?


    Fannie And Freddie Preferred Stock Slowly Finding Its Way Back Into The Hands Of People Who Don’t Know Any Better

    Articles about the Fannie & Freddie preferred trade have been burbling around for a while and I’ve never understood it. The Journal has two good articles on it today, with this being a particularly clear explanation, and … I still don’t get it? Basically the thing is: the government seized Fannie and Freddie in 2008 […]

    / May 15, 2013 at 7:01 PM
  • This is the judge, btw, Denise Cote.


    Banks Want A Chance To Prove Fannie And Freddie Knew They Were Being Lied To

    Ninety percent of what happens in the typical lawsuit is (1) a lawyer for one side sends a letter to the other side asking for some information to prepare for a trial that will never happen, (2) the lawyer for the other side sends back a passive-aggressive letter refusing to provide that information, and (3) […]

    / Mar 27, 2013 at 6:05 PM
  • yaaay


    Fannie Mae And Bank Of America Are Friends Again

    Who won the Bank of America / Fannie feud? I want the answer to be “all of us,” but I guess it isn’t. Unlike Bank of America’s multi-front battle of deviousness with MBIA, which has spawned some genuine entertainment, BofA’s battle with Fannie has been conducted almost entirely in the boring trenches of actually flinging […]

    / Jan 7, 2013 at 11:09 AM
  • News

    Freddie Mac Profits From The Misery Of American Homeowners So That Banks Don’t Have To

    It’s always good fun to get upset about something of the form “X bet against Y,” and the financial markets offer a whole range of opportunities to do so. Everything is a bet against something, and if that something is sympathetic and/or you, you can go get enjoyably pissed at whoever is doing the betting. […]

    / Jan 30, 2012 at 1:18 PM
  • News

    Maybe The SEC Decided To Throw A Trial So It Can Go Back To Settling Everything

    I try to be honest when telling you that a court complaint or SEC filing or research paper is a fun read, just in case you might go read it, though of course there’s no accounting for tastes and I may enjoy many things that you don’t.* And that’s okay. In any case I doubt […]

    / Dec 16, 2011 at 5:42 PM
  • News

    Let’s Talk About My Mortgage For A Minute

    Like many people, I like to believe that I prefer the government policies that I prefer because they’re a Good Thing for the world, not because they advance my self-interest. But as a relatively new homeowner, I break down a little on mortgages. Sure the mortgage interest deduction is a crazy and inefficient boondoggle, but […]

    / Sep 9, 2011 at 3:17 PM
  • News

    Ex-Fannie Mae CEO Daniel Mudd Waxes Nostalgic For The Good Old Days

    As Wall Street bonuses bulged and housing prices were peaking in 2005, Daniel Mudd found himself dreading his top job at Fannie Mae. Going to work felt like “a choice between poking my eye out and cutting off a finger,” Fannie’s former chief executive officer recalls in Bethany McLean and Joe Nocera’s new tome, “All […]

    / Nov 3, 2010 at 10:45 AM
  • News

    Fannie Mae Seeks Another Government Bailout

    Fannie Mae is asking for another $8.4 billion from the government to cover losses on bad mortgages after reporting a dismal first-quarter loss of $13 billion.

    / May 10, 2010 at 5:44 PM
  • News

    Presented Without Comment (Except The Unbridled Laughter You Hear In The Background)

    Fannie Mae is seeking an additional $10.7 billion in government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing. Fannie Mae seeks $10.7B in US aid after 2Q loss [Associated Press]

    / Aug 6, 2009 at 6:55 PM
  • News

    Fannie Scratches For More Scratch

    Unsurprisingly the GSE is still a sink hole that cash is proving difficult to fill. Instead of growing out of the training wheels, the increased burden of debt has bent the brackets, cracked the frame and flattened both tires: Fannie Mae’s first-quarter loss ballooned on surging credit losses as the company and the Treasury Department […]

    / May 8, 2009 at 10:00 AM
  • News

    In Soviet Russia, Agencies Buy You

    Well, someone over there is thinking. The motherland believes it has seen quite enough of agency shenanigans, thank you very much. There will be no more of that nonsense on Putin’s watch. Now let’s have no more of this so we can get back to imprisoning oligarchs and lacing reporters’ tea with lethal doses of […]

    / Mar 5, 2009 at 10:25 AM
  • News

    Second Verse, Same As The First

    We had to check the date on this Bloomberg post very, very carefully to make sure it wasn’t off by a year. It is not: Fannie Mae, the mortgage-finance company under U.S. government control, will loosen rules for homeowners seeking to lower their loan payments by refinancing. Fannie Mae will drop some credit-score requirements, reduce […]

    / Feb 5, 2009 at 3:52 PM
  • News

    Naughty And Nice

    At 2pm eastern, the Federal Housing Finance Agency is expected to announce a plethora of mortgage gifts to homeowners with Fannie Mae and Freddie Mac loans. This year, gifts will follow the increasingly popular “Reverse Santa” list (not to be confused with the “Double Lehman” formula) which provides relief in the form of federally mandated […]

    / Nov 11, 2008 at 10:34 AM
  • News

    Daniel Mudd Wishes He Hadn’t Been Such A Legislative Slut

    What’s a girl to do? The opposing pressures of popularity (or coin) and purity have plagued the female sutler since before the Napoleonic campaigns. Certainly, there is a good bit of the camp slop that spills over into the waiting mouths of such campaign hangers-on, and it is often far too tempting to resist, even […]

    / Oct 30, 2008 at 9:55 AM
  • News

    Oh, NOW I Get It.

    I’m trying very hard to keep a straight face here. Reuters gives us this: With plans to drop some executive perks and trim the costs of home buying, Fannie Mae and Freddie Mac are quickly being transformed from profit-making companies into government-run entities with a single-minded mission to restore the ailing U.S. housing market. Fannie […]

    / Oct 21, 2008 at 12:24 PM

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