While Fannie Mae and Freddie Mac will undoubtedly earn a lot of money going forward, those earnings are for the benefit of the government and not stockholders. Where does that leave Fannie Mae and Freddie Mac shareholders? Fannie and Freddie stock was always something of a litigation lottery ticket, and at this point, the numbers have been announced and the ticket is worthless. Suffice it to say the appetite for releasing them simply isn't there. Releasing Fannie and Freddie was always going to be a heavy lift, one that will involve complicated legislation and the reconciliation of stark ideological differences in Washington, D.C. Investors hoping for a release of the GSEs from government control will probably have to wait for a new administration. The net effect will be to increase the flow of credit and increase the GSEs' footprint in the mortgage market.
In the waning days of the Trump administration, Calabria put several restrictions on Fannie and Freddie that will probably get reversed. The Biden administration is much more interested in the GSEs helping support affordable housing goals and increasing access to credit. With the removal of Mark Calabria as the head of the FHFA, the philosophy regarding the companies will shift as well.
The Obama administration was dead set against the shareholders getting anything, and that viewpoint is probably shared by the Biden administration. This feature of an FHFA conservatorship is fatal to the shareholders' statutory claim." This means the FHFA has no fiduciary duty to Fannie Mae and Freddie Mac shareholders, and that its main concern is the broader public.įannie Mae and Freddie Mac both fell around 45% on the news of the decision.Ībsent that consideration, Fannie and Freddie would have gone through a typical bankruptcy, where the shareholders would have been wiped out. However, Justice Samuel Alito wrote in the opinion: "When the FHFA acts as a conservator, it may aim to rehabilitate the regulated entity in a way that, while not in the best interests of the regulated entity, is beneficial to the Agency and, by extension, the public it serves. Shareholders fail to convince the Supreme Courtįannie Mae and Freddie Mac shareholders tried to argue that the structure of the Federal Housing Finance Agency was unconstitutional, and the government had no right to institute its net profit sweep, which diverted all of Fannie and Freddie's net income to the U.S. This decision basically removed the last justification for owning the stocks. The Supreme Court ruled that the president has the authority to replace the director of the Federal Housing Finance Agency (FHFA), and it rejected a shareholder lawsuit by several hedge funds that claimed the FHFA exceeded its authority in handling the two government sponsored entities (GSE). Also author a daily blog on real estate called The Daily Tearsheet Follow 23 was a big day in the mortgage market as the Supreme Court decided two issues that will weigh heavily on the future of Fannie Mae ( OTC:FNMA) and Freddie Mac ( OTC:FMCC). Worked for Bear, Stearns in London as a trader, then became an analyst at several hedge funds.
STOCK CONTROL FOR MAC SOFTWARE
NCH has released over 100 products since 1993 and continues to receive awards for software excellence.Began my career as a trader for NYC hedge fund Elliott Management.
STOCK CONTROL FOR MAC MAC OS
The people behind Inventoria have a reputation and a long history of releasing quality, well designed software. NCH Software is a leader in audio, video, telephony, dictation, business, and computer utility software solutions for Windows, Palm, Pocket PC and Mac OS X. Security is also tight. MAPI or SMTP email send settings include Secure Socket Layer (SSL). Overall, Inventoria Professional Stock Control is a well-designed and well thought out piece of software that should work for anyone who chooses it.
Multiple users can also have access to the same data at the same time in remote locations via a web interface with just a single installation. The program also lets you manage multiple company profiles within the application. Inventoria also comes with the ability to easily set ideal quantity levels and create warnings when stock drops below certain levels. The program also comes with fully prepped and ready with purchase order and invoice management controls. Of course, the software in fully compatible with a range of databases and you can also group items into categories and sub-categories as you need and require. As you'd expect Inventoria also comes with "Just in Time" inventory management controls, and transferring stock between locations or departments can be done with just a few clicks. Inventoria's interface is simple and ready to use, so every member of staff can use it and become expert in a relatively short time frame.Īuditing and reporting features come as standard and are easy to access and utilise.
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