No, actually I started talking to a mortgage broker who did one of my loans and we started to talk about FNMA & Freddie. I told him the company has paid back every cent, the portfolio is spotless, good clean paper and the Govt is sweeping the profits. Both he and a corporate attorney I know said if FNMA goes so will the U.S. housing market.
Banks can’t make money on 30 year mortgages, 3-5 year mortgage’s “yes" that’s why they’re sold off to F&F. And who in America can with stand a 3-5 year note, if that took place home values would have to depreciate by 50% to make these notes affordable.
That’s not going to happen, so it just made sense, plus new home building is exploding in cities like Denver Co, FL and I talk to people everyday in all parts of the United States and they say new home construction is taking off. I was real surprised to hear even in Michigan. My wife is realtor as well and she is going bell to bell here in FLA.
When it was below $1, no one was building new homes, the investors were gobbling up rental properties dirt cheap and most were cash transactions.
I also read and heard that 3 big hedge fund managers were getting behind both F&F which made me feel even more confident. I got in at $1.77 in mid December. New home construction will and continue to be strong in 2015 especially with the introduction of 3% down payment on mortgages, this will attract the renters with good credit, stable jobs back to buying homes.
I mean the company makes more than Apple and that stock is over $100, the company has never been in better shape. Banks, Big Banks put F&F in this situation with the falsification of loan doc’s, that’s why they’r all paying steep penalties. I also listen to a guy named Sims, he regularly gives updates on his site called SIMSONFINANCEGSE, check him out, he too believes were holding lotto tickets with this one but we still need to hear the winning numbers called. It’s a matter of time schust06. Almost
25% of my position is on this one, I’m letting it ride.
I can go on and on but the bottom line they have paid back every cent and to be exact 41 billion more than borrowed that should have went to the shareholders and tax payers that bailed them out but our good old Govt is sweeping the profits, this is the reason for all the law suits by these hedge fund managers. Some as you probably know are calling this FANNIEGATE. Corrupt as hell buddy, corrupt as hell.
If this puppy gets released form conserver-ship you will see a $40 stock very quickly.
I just put my dad and my nephew on this today at $2.99, if 60 minutes got a hold of this story it would be released tommorow. Trust me the Govt doesn’t want specific names coming out in these lawsuits, criminal acts have been commited.
The GOVT wants the Big Banks to hold the mortages, they can’t. Since the Govt too is sweeping the profits, F&F can’t capatalize themselves and in the event of future losses, it would have to fall back on you and me the tax payers once again.
The loan has been repaid and I reiterate 41 billion more than borrowed but the treasury is sweeping these profits.
I will die with this one.