Trending GSE Reads For Week Of June 19th-25th: FNMA, FMCC

With all the court cases for Federal National Mortgage Assctn Fnni Me (OTCMKTS:FNMA), and Federal Home Loan Mortgage Corp (OTCMKTS:FMCC) there’s always so much news you don’t want to miss. Here are some of the trending stories in the last week for the GSEs including court updates and interesting articles on SeekingAlpha and more.

  1. Leslie Luk writes about Fannie and Freddie and how they could be resolved right now. Leslie notes that an end to conservatorship does not have to mean an end to support and that any proceeds from selling shares of capital stock must be used to pay down the Senior Preferred. (SeekingAlpha)
  2. Shareholder plantiffs in Edwards v Deloitte tell Judge Scola they need more time to respond to FHFA’s renewed motion to substitute. They are requesting till August 1st, 2016. (
  3. Judge Chang entered an order directing the timeline in his Court in Chicago.  All briefs and replies are due by September 14th and a status hearing will be held on November 1st.(
  4. Bloomberg’s Joe Light writes about how Timothy Bowler believed the U.S. government’s decision was the right thing to do in light of the companies subsequent return to profitability. Nothing all that new in this one from Joe, nor is it really truthful. It has been roasted by Glen Bradford and Josh Roshner on Twitter and rightfully so, but if you want to read it anyways… (Bloomberg)
  5. Jeremy Cain does a Fact Check of 3 reasons the DoJ Gives to Stop 53 Documents in the Court of Appeals. He notes that the filing contains some very serious errors that mislead (as is common from the Treasury/Government in  these cases) (SeekingAlpha)
  6. Investors United writes that the Latest Docs Reinforce that the sweep was long contemplated. (ValueWalk)
  7. Some documents made their appearance on Twitter and Pace which showed a plan very different from the government’s sweep and much more like the a typical bailout plan instead of a sweep of everything. (InvestCorrectly)
  8. Perry Capital v Lew had some updates as the government requested a 5 day delay in response to some questions the judges ordered. The order was accepted. There’s also a more optimistic look at what the 5 questions could mean from a non-lawyer. (InvestCorrectly)
  9. The much maligned and government friendly John Carney puts his spin on the questions the 3 Judges in the US Court of Appeals for District of Columbia Circuit asked. As you can imagine it is government friendly as usual from Carney. (WSJ)

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