Freddie Mac (NASDAQOTCBB:FMCC)
A stockholder-owned corporation chartered by Congress to create a flow of funds to mortgage lenders. Purchases certain residential mortgages that it finances by issuing mortgage pass through securities and debt instruments in the capital markets.
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full of suprises. Keep an eye on it.
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not even going to touch it.
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Bought this IRL @ $1.10. Long term buy and hold with real money. Q1 2013 report showed the turn around I was waiting for and hedge funds are responding. Look for lobbying of Government by these funds to improve their market position and profitability. Multi-year recovery expected much like the one AIG is experiencing.
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Wednesday, April 24, 2013
“The Daily Show host Jon Stewart ripped Congress for weakening a recently approved law that subjected lawmakers to the same insider trading laws as every other American.”
Does this action by Congress have anything to do with FMCC & FNMA stock price?
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It's alive...ALIVE I TELL YOU!
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The housing market is stabilizing quickly!
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I will get back to this.
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The 2012 amendments to the SPSA makes it clear that there is no path to viability for Fannie and Freddie equity. Functionally, the government has 100% ownership and the traded shares are worthless.
http://fhfaoig.gov/Content/Files/WPR-2013-002_2.pdf
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Sustained housing recovery, continued low interest rates, and increased employment = increase in home buyers who need FMCC and FNMA
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As interest rates increase in the housing industry back to the 7 and 8 percent mark after being held down, even properties that default on current low rates will be easier to resell for a profit. They will be getting higher interest rates for these properties on the resale.
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Easy money on hype alone.
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$ 10. per share 2014
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bought @.35 coast basis ....long term 30 yr investment? idk lol
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With almost a 100 billion in revenue is a bargain at a penny stock price. I don't see how the government will replace these companies without affecting the housing market. Is just a matter of time to see when the lawmakers react to the cruel reality in which we need the fannies.
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Low Evaluation Increasing Market
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Look like a good buying time. Maybe let it cool off and let people sell out and take their gains then buying looks interesting.
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Finally doubled down on Freddie Mac (FRE) shares today
WOW, you know I have been following this stock for a long long time and I decided NOW was the best time to double down..
I was lucky I bought my shares for $1.23
I was worried I would miss out since it has been steadily climbing thanks to the Russell Reconstitution
My Mom has all of her retirement in FRE stocks and she was getting a little worried, but this morning I told her
"Don't worry Ma, it's gonna be Okay FRE is getting of conservatorship and you will start to get your dividend checks very soon."
And it can't be soon enough.
Ma needs a new hip.(Thank you Mr. President for the free health care)
She broke it about 10 years ago after test driving a Pontiac Aztec..... It was just too low to the ground for her...
So anyway... to make a long story short... I cashed out the rest of the remaining equity line on my house today and bought some more shares.
I also racked up $50 000 more shares on my new visa and master card while I am waiting for my British Petroleum Oil Spill Check...(Gesh this BP adjuster is SLOW but my President is coming to kick his ass)
Never mind that I am underwater on my first mortgage (damn interest only loan), but I figure with what I make off this stock, I will be just fine.
My broker wasn't too thrilled and he actually tried to discourage me...again
I am guessing he just didn't want me to get in on a good thing!
I mean come on....he works behind a desk at a bank... and not a very good bank either (formerly WAMU) so what does he know!
So the way I am figuring.... by the time this stock soars, I will have made enough money to buy me a 2011 Hummer H3
It's higher off the ground, so Ma can get in it easier (on account of her bad hip).
I am just happy gas prices are back down below $4 a gallon FOR GOOD now too (thank you Mr. President for that sweeping financial reform and killing off those evil speculators for me)
I am just SO SO excited that I was able to get more credit to double down on my position (thank you Mr. President for getting the banks to lend again)
........gosh and am so lucky.... I just don't know what to do next..... Maybe I will buy a time-share in Detroit!
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The housing markets are improving in major metro areas. Job market is rebounding and the interest rates are low.
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