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Federal Home Loan Mortgage Corp $ 2.17 -0.14 (-6.06%)

Volume:
2,122,458
Avg Vol (1m):
1,137,717
Market Cap $:
1.41 Bil
Enterprise Value $:
2.67 Til
PE Ratio:
217.00
PB Ratio:
0.00
Warning! GuruFocus has detected 3 Severe warning signs with FMCC. Click here to check it out.
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Federal Home Loan Mortgage Corp News and Headlines -

GuruFocus Articles Total 99
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Guru stock highlight

Fannie Mae (FNMA) ("FNMA" or "Fannie") and Freddie Mac (FMCC) ("FMCC or "Freddie") (together "the GSEs")

Fannie and Freddie continue to move towards the ending of their conservatorships. While the progress made during the Trump administration fell short of its articulated goals, there were a number of positive developments in 2020.

The Preferred Stock Purchase Agreement ("PSPA") modification announced in January 2021 suspended the net worth sweep, allowing the GSEs to increase their maximum capital retention from $45 billion to over $300 billion. The amended PSPA, however, did not provide recognition that Treasury's Senior Preferred investment has been repaid and

20 Views    Sydnee Gatewood    2021-03-29 20:54
Fund releases its 4th-quarter portfolio

In its portfolio for the final quarter of 2020, which was released earlier this week, the Fairholme Fund (Trades, Portfolio) disclosed it established one new position and sold out of another.

The fund is part of Bruce Berkowitz (Trades, Portfolio)'s Miami-based Fairholme Capital Management. As he believes that more diversified portfolios lead to more average returns, the guru invests in a handful of undervalued stocks whose underlying companies have good management teams and steady cash flow generation.

Based on these criteria, the fund entered a position in Bank of America Corp. (BAC) and exited

633 Views    Sydnee Gatewood    2021-02-10 17:28
Guru stock highlight

Fannie Mae (FNMA) and Freddie Mac (FMCC) insure the availability of 30-year fixed-rate mortgages. Home ownership has never been more affordable or sustainable during crises with Fannie and Freddie guarantees. The enterprises have been under federal control since 2008. The U.S. Treasury only recently agreed to their retaining the earnings necessary for capital safety and soundness. Treasury still has not agreed that $191 billion of "loans and fees" have been repaid – even after receiving over $300 billion of reimbursements and controlling 80% stakes. I expect The Supreme Court will recognize the rights of private enterprise and

911 Views    Sydnee Gatewood    2021-02-03 21:18
Discussion of markets and holdings

January 28, 2021

Dear Fellow Shareholders:

The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url]) increased 46.9% versus an 18.4% increase for the S&P 500 Index in 2020. The preceding graph and performance table compare The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url])'s unaudited performance (after expenses) with that of the S&P 500 Index, with dividends and distributions reinvested, for various periods ended December 31, 2020. The value of a $10,000 investment in The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url]) at its inception was worth $83,577 (assumes reinvestment of distributions into additional Fund shares) compared to $38,539 for the S&P 500 Index at December 31, 2020. Focused investing has

244 Views    Sydnee Gatewood    2021-02-03 21:12
Debate on whether Congress could get involved in the efforts to free Fannie Mae and Freddie Mac

Could Congress get involved in the efforts to free Fannie Mae and Freddie Mac from conservatorship? A letter that was sent by two senators to Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency Director Mark Calabria suggests it might.

However, there are reasons to believe Congress won't step in to prevent Fannie Mae and Freddie Mac from exiting conservatorship.

Letter suggests Congress could block Fannie Mae, Freddie Mac from exiting

Senators Mark Warner and Michael Rounds sent a letter to Mnuchin and Calabria on Monday. The letter is about the status of the government-sponsored

167 Views    Jacob Wolinsky    2020-10-07 16:12
Analysts debate on why the results will not matter for the government-sponsored enterprise

Some have argued that if President Donald Trump loses the election, Fannie Mae (FNMA) and Freddie Mac (FMCC) will be left in conservatorship instead of recapitalized and released. However, Tim Pagliara of CapWealth Advisors has argued that even if Joe Biden wins the election, he believes the government-sponsored enterprises will still be released.

Now it seems analyst Dick Bove of Odeon Capital agrees with him, although he disagreed before. He said in a recent report that regardless of election's results, the winner needs the housing market to be strong, and that requires Fannie Mae and Freddie Mac to be in

202 Views    Jacob Wolinsky    2020-10-02 19:27
A brief overview of the lawsuit involving the government-sponsored enterprises

The Supreme Court has decided to hear the Collins case lawsuit involving Fannie Mae (FNMA) and Freddie Mac (FMCC) in December. That lawsuit could provide some major breakthroughs for all the litigation involving the two government-sponsored enterprises.

Odeon Capital hosted a conference call with Brian Barnes of Cooper & Kirk, who was one of the main authors of the brief submitted to the Supreme Court by the plaintiffs in the Collins case. Analyst Dick Bove explained the plaintiffs and the government's arguments in the case, adding that he believes the lawsuit will be groundbreaking for Fannie Mae and Freddie Mac

315 Views    Jacob Wolinsky    2020-09-30 18:21
Since the Federal Housing Finance Agency proposed the capital rule for Fannie Mae and Freddie Mac at 4%, the housing finance market has been in an uproar

Since the Federal Housing Finance Agency proposed the capital rule for Fannie Mae (FNMA) and Freddie Mac (FMCC) at 4%, the housing finance market has been in an uproar. Numerous experts have come forward and said that it's too high.

The government-sponsored enterprises themselves even publicly disagreed with it, making the first time they have ever opposed what the FHFA has said. While some believe the FHFA will push through the rule at the proposed 4%, one longtime preferred shareholder believes Fannie Mae's and Freddie Mac's capital rule won't be finalized at that percentage.

Comment period for Fannie Mae, Freddie

184 Views    Jacob Wolinsky    2020-09-09 19:17
Fannie Mae and Freddie Mac have now officially said that they oppose the capital rule proposed by the Federal Housing Finance Agency

Fannie Mae (FNMA) and Freddie Mac (FMCC) have now officially said they oppose the capital rule proposed by the Federal Housing Finance Agency. The government-sponsored enterprises agreed with critics who said the capital rule would increase costs for borrowers.

Fannie Mae, Freddie Mac oppose FHFA's capital rule

In a note over the weekend, analyst Dick Bove of Odeon Capital pointed out that Fannie Mae Chief Financial Officer Celeste Brown said recently that she had reservations about the FHFA's capital rule as it was proposed. He also argued two more points, although his views are controversial.

Bove argued that

195 Views    Jacob Wolinsky    2020-08-31 19:16
Guru stock highlight

Fannie Mae (FNMA) ("FNMA", or "Fannie") and Freddie Mac (FMCC) ("FMCC", or "Freddie," together "the GSEs")

Fannie and Freddie, along with their regulator and conservator FHFA, have continued to make substantial progress toward ending their conservatorships. While FNMA and FMCC common shares have declined 29% and 27%, respectively, year-to-date, possibly due to uncertainty created by the upcoming presidential election, we believe that both companies are now firmly on a path towards exiting conservatorship and raising substantial first-loss private capital.

Financial advisors for the eventual recapitalization of the GSEs are now in place, with FHFA hiring Houlihan Lokey in February, and

92 Views    Sydnee Gatewood    2020-08-28 21:51
Stake raised over 29% after 2019 sale

The Fairholme Fund (Trades, Portfolio)’s founder and portfolio manager Bruce Berkowitz (Trades, Portfolio) has revealed the fund has drastically boosted its holding of Berkshire Hathaway Inc. (BRK.B) in the second quarter.

After is foundation in 1999 by Berkowitz, the fund saw massive gains over the S&P 500 for the first 10 years of its existence. The fund operates on a quarterly basis and is separate from the other accounts and funds managed by Berkowitz. Berkowitz concentrates his investments in a small number of companies and looks for good management and solid cash flow.

Portfolio

854 Views    Graham Griffin    2020-08-04 20:37
Guru stock highlight

Interest rates at 50-year lows are creating record demand for conventional mortgages insured by Fannie Mae (FNMA) and Freddie Mac (FMCC). Delinquencies are also rising with Covid-19, but remain manageable given conservative underwriting; pre-tax, pre-reserve earnings; and reinsurance. To assure safety and soundness, The Federal Housing Finance Agency (FHFA) is following Congress’ direction in the Housing and Economic Recovery Act to recapitalize and release Fannie and Freddie from conservatorships. Legal advisers and investment bankers are working toward their reprivatizations. Taxpayers have been paid in full and received 80% ownership in each company for Government loans. The “Net Worth Sweep”

180 Views    Sydnee Gatewood    2020-07-31 22:26
Discussion of markets and holdings

July 27, 2020

Dear Fellow Shareholders:

The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url]) decreased 8.42% versus a 3.08% decrease for the S&P 500 for the six-month period that ended June 30, 2020. The preceding graph and performance table compare The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url])’s unaudited performance (after expenses) with that of the S&P 500, with dividends and distributions reinvested, for various periods ending June 30, 2020. The value of a $10,000 investment in The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url]) at its inception was worth $52,103 (assumes reinvestment of distributions into additional Fund shares) compared to $31,547 for the S&P 500 at June 30,

177 Views    Sydnee Gatewood    2020-07-31 22:20
Guru stock highlight

Fannie Mae (FNMA) and Freddie Mac (FMCC) have already proven themselves essential to the U.S. housing fi nance system, which is a critically important bulwark for the U.S. economy. The current disarray in the non-agency residential and rental housing mortgage market, which has recently occurred as a result of the crisis, will remind the Congress and the American people of the critically important function that Fannie and Freddie perform during periods of economic stress. The crisis has also made manifestly clear the need to recapitalize Fannie and Freddie so that the private sector becomes the fi rst loss

635 Views    Sydnee Gatewood    2020-04-14 16:33
Guru stock highlight

Fannie Mae (FNMA) and Freddie Mac (FMCC) (“Fannie & Freddie”) preferred stocks accounted for 830 basis points of 2019 performance. Fannie earned $3.9 billion insuring $3.0 trillion of mortgages in the latest three months. Freddie earned $1.8 billion insuring $2.1 trillion of mortgages. Fannie and Freddie are expected to earn and retain billions of dollars each year – charging less than one-half of one percent to guarantee affordable, long-term mortgages. No other institution does it for less or better serves families who want the American dream of home ownership and financial independence. The White House and Treasury Department want

327 Views    Sydnee Gatewood    2020-01-31 17:27
Discussion of markets and holdings

January 28, 2020

Dear Fellow Shareholders:

The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url]) doubled the performance of the S&P 500 Index in its first twenty years.

The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url]) increased 32.06% versus a 31.49% increase for the S&P 500 Index in 2019. Outstanding performance was achieved by focusing on a few long-term investments. The Fund held 38.5% of assets in cash and cash equivalents at year-end to hedge against market uncertainties. The preceding graph and performance table compare The [url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Fairholme Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Fairholme+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Fairholme+Fund]Portfolio[/url])’s unaudited performance (after expenses) with that of the S&P 500 Index, with dividends and distributions reinvested, for

175 Views    Sydnee Gatewood    2020-01-31 17:21
Discussion of markets and holdings

Dear Shareholder,

Pershing Square Holdings generated strong performance during the first quarter of 2019 and year-to -date. NAV per share increased 36.9% during the first quarter and by 38.4%1 year-to-date, compared with the S&P 500’s year-to-date total return of 13.9%. All of our portfolio companies have generated substantial positive performance in line with their continued business progress as we discuss in detail below:

Portfolio Update

Below are the contributors and detractors to gross performance of the portfolio for the first quarter of 2019 and year-to-date 20192:

Chipotle Mexican Grill (“CMG”)

CMG’s (CMG) first quarter results continued to demonstrate the

1641 Views    Holly LaFon    2019-05-17 22:17
Guru stock highlight

Fannie Mae (“FNMA”, or “Fannie”) and Freddie Mac (“FMCC”, or “Freddie”)(FNMA)(FMCC)

Following a difficult 2018 driven primarily by a lack of progress on housing finance reform, FNMA and FMCC common and preferred shares have rebounded sharply in the first few months of this year as the probability of a favorable resolution to the status of both companies has increased. Favorable recent developments include repeated comments from Treasury Secretary Steven Mnuchin citing GSE reform as a key priority for 2019; the U.S. Treasury, on behalf of the taxpayer, achieving an annualized return on its Senior Preferred Stock investment greater

501 Views    Holly LaFon    2019-03-27 20:40
The Oracle of Omaha didn't always like financial stocks

Over the past decade, one of the most notable changes in Warren Buffett (Trades, Portfolio)'s portfolio is his increased allocation toward banks and financial stocks.

Indeed, over the last 10 years, Berkshire Hathaway's (BRK.A) (BRK.B) bank holdings have gone from virtually zero to making up five out of the conglomerate's top 10 equity positions.

Together, Bank of America (BAC) and Wells Fargo (WFC) make up 22% of Berkshire Hathaway's equity portfolio. The company owns just over $40 billion worth of stock in these two banks.

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Buying stocks cheap

Buffett has always had

108 Views    Rupert Hargreaves    2019-03-13 20:07
Successful investors are contrary, skeptical and courageous

After reviewing market cycles and swings of the pendulum, it becomes obvious we should invest when the cycle and pendulum reach their troughs and sell when they reach their peaks. In other words, be contrarian investors.

Being a contrarian is the subject of chapter 11 of “The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor.” Author Howard Marks (Trades, Portfolio) began by describing most investors, the crowd, as “trend followers.” Superior investors, on the other hand, go in the opposite direction, buying when the crowd wants to sell and vice versa.

However,

1299 Views    Robert Abbott    2019-03-13 16:51

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