Federal Home Loan Mortgage Corporation (QB) (FMCKN)

Yet, 18 years later, 2 corporations essential for success of housing, remain in COMMIE STLYE TEMPORARY conservatorship despite the government looting $301 billion of their equity.@POTUS @pulte @SecScottBessent @SecretaryTurner @howardlutnick @BillAckman @michaeljburry https://t.co/O1osLkFW0K— Guido da Costa Pereira (@GuidoPerei) July 11, 2026

Quite sure I've had coffee and a doughnut for 50 cents. Clearly remember having a slice of pecan pie and coffee for 75 cents. A cafe on 4th St., San Francisco had specials every year in the late 70s and early 80s.

https://share.google/aimode/u3f2PxTNT4dN4wo1s

Couldn't agree more!

Any RISK associated with Fannie Mae and Freddie Mac has to be in conservatorships managed by the U.S. Government!
Like the fox guarding the henhouse on steroids.

Dr Burry: Fannie, Freddie, Trump & the Housing Crisis
A CUSIP by CUSIP Examination of the Health of the Toxic Twins' Most Risky Business

https://x.com/michaeljburry/status/2076005739571675398

some additional info from yesterday's post:

https://michaeljburry.substack.com/p/washington-goes-to-fannie-mae-and?r=4repfn&utm_campaign=post-expanded-share&utm_medium=web&triedRedirect=true

Maybe not single digits low, but certainly much lower confidence than a year ago. I'm in till the end regardless.

"Believe it or not, this is the ugly. The ugly truth is that the end result is in the Trump Administration’s hands."

At one time, that fact had confidence levels close to 100% among shareholders. Almost half-way through a second term, that confidence level may have found its way to the single digits.

If you want Burry's raw data and analysis, subscribe to his Substack.

In summary, he published a deep dive today using SEC filings, 10-Qs, and ABS-15G repurchase disclosures that most investors never read. He found real deterioration in the multifamily book. Fannie's multifamily…— Hand of God (@TylerEHand) July 11, 2026

Here is the Reg Cap EO requirement :

In the Executive Order "Promoting Access to Mortgage Credit" (issued March 13, 2026), Section 4(c) requires the FHFA Director to submit a specific report.

The exact requirement is: Within 120 days of the date of the order, the Director of the FHFA (in consultation with heads of other relevant executive departments and agencies) must submit a report to the Assistant to the President for Economic Policy and the Director of the Office of Management and Budget.

This means the report will be delivered to Kevin Hasset and Russ Voight.

The report must cover:The efficiency of national housing finance markets.
Recommendations for regulatory or legislative changes necessary to address any identified regulatory or oversight gaps.

This provision appears in the EO’s “Capital and Liquidity Alignment” section (Section 4), which also directs FHFA and other regulators (Federal Reserve, FDIC, OCC, NCUA) to consider revising capital regulations. This includes tailoring risk weights for portfolio mortgages, mortgage-servicing rights, and warehouse lines of credit to better reflect material credit risk (with tailored standards for community and smaller banks).

The EO aims to reduce regulatory burdens, promote mortgage credit access (especially for smaller lenders), and improve housing finance market efficiency overall. The 120-day report deadline would have been around mid-July 2026.

Washington Goes To Fannie Mae & Freddie Mac
The Ugly, the Bad & the Good that Investors Need to Know
Michael Burry
Jul 10, 2026
· Paid

The GSEs’ investors have seen enough unfulfilled grand promises over enough years to try the patience of Job.

Since President Trump’s election to a second term, the shares of both GSEs have marched upward toward the mid-teens and then fallen dramatically to the mid-single digits.

Amidst the ups and downs, one truth remains. By far the largest driver of value of the shares stems neither from an IPO nor from an exchange listing.

Shareholders’ Sisyphean saga comes down to the Senior Preferred Stock (SPS) Liquidation Preference (LP), which grows largely in line with the Twins’ retained earnings.

For now, Fannie and Freddie retain those earnings and keep that capital.

Fannie and Freddie as enterprises benefit from improved capital position, but common shareholders do not see it and today have no claim to it.

The Twins have paid far more to the Treasury than was ever provided to them, but if the SPS LP is affirmed by Treasury, the Twins’ stocks will fall straight to the low single digits.

If the SPS LP is instead deemed to have been paid off, then all those retained earnings indeed belong to the Twins.

The stocks would then run straight up, perhaps 3-4 times today’s price.

I am fairly confident that clarification on the SPS will precede the IPO, as marketing for the IPO likely cannot proceed without such.

Freddie Mac’s event map looks almost exactly the same as Fannie’s, above, with the very same events. The shares remain up hundreds of percent since before Trump’s election.

The stair step up and stair step back down appears to be a prototypical head and shoulders pattern, typically a reflection of investors’ tortured psychology and relatively agnostic as to underlying business fundamentals.

The map nevertheless suggests the stock moved in line with a number of fundamental news items. That is, to the extent hopes, dreams and disappointments count as news.

Believe it or not, this is the ugly. The ugly truth is that the end result is in the Trump Administration’s hands.

https://michaeljburry.substack.com/p/washington-goes-to-fannie-mae-and?r=6eik8l&utm_campaign=post-expanded-share&utm_medium=post%2Bviewer&triedRedirect=true

Dollars to doughnuts means something that is certain. The phrase dollars to doughnuts is an American idiom that originated in the middle 1800s and is still mostly seen in American English. Mind you that a donut in the mid-1800s was valued in today's dollars to be around $.10, ten cents.

Sub stacks, signals & crumbs ! Another year in the $hiter !

silly, but no it isn't ... it's dollars to donuts which means you are extremely confident about the argument which follows ... dimes to donuts makes no sense in that context

Dimes to donuts I think is the phrase

: )

Anyone know of a better stock app than the one on my iPhone

iPhone app is constantly giving wrong prices

There has to be a better app in this day and age

Tia

Interesting news today ... WSJ put out a story that Sullivan & Cromwell, yes, those same rat bastards that were supposed to be working on the F2 case for the government, would not help Trump in his E Jean Carroll defamation case which caused a riff between firm partners. Dollars to donuts says, given their history in defending banks in the FHFA cases brought to get payback for the bad mortgages the off-loaded to the GSEs, these guys are gumming up the works in every way they can ...

"Trumps a builder- lmao !"

I'm laughing too because we now know, after almost a term and a half, Trump is a bull shit artist!

Cat man do nothing

Must be bi-polar or have screws loose

He did not help

Added cement shoes to the cap rule

Hid stress tests etc

He is feeling guilty?

It’s a nice comment

But what to believe from him especially???

Trumps a builder- lmao !

ROLG is out with new Post on Fairholme DC Circuit Court of Appeals Decision. July 21 will be 90 days since Hearing

REPOST
Waiting on the Fairholme Decision in the DC Circuit, and Why GSE Recap/Release Should Proceed Once the Decision is Reached, by @RuleofLawGuy1 https://t.co/fgcU5ZVYrN $fnma$fmcc pic.twitter.com/NoO8VKFJ3J— rule of law guy (@rule_of_law_guy) July 10, 2026

@POTUS @pulte @SecScottBessent @SecretaryTurner @howardlutnick @RepMeuser @RepYoungKim @BillAckman @michaeljburry https://t.co/wPvkQsfsWy— Guido da Costa Pereira (@GuidoPerei) July 10, 2026

Munich + 14

ABSOLUTELY NOT! @POTUS acknowledged that conservatorship of Fannie Mae & Freddie Mac is illegal and despite his promises, he continues with the COMMUNIST takeover of my private property.@pulte @SecScottBessent @SecretaryTurner @howardlutnick @BillAckman @michaeljburry https://t.co/O1Rm5tGlP3— Guido da Costa Pereira (@GuidoPerei) July 10, 2026

It didn't work 🫩😝
$FMCC~ $FNMA~ ZOMBIE STOCKS RULE!

"Does “No Rush” mean back to where we started ?"

Yep, my guess would be like late September 2008!

$FMCC $FNMA $1 TRILLION beasts in Fortune Top 50! @realDonaldTrump @pulte @SecScottBessent all hyped the release & listing… but where’s the action? 18 years of fraudulent conservatorship and STILL no freedom. Talk is cheap — deliver the listing or admit you’re delaying!… pic.twitter.com/GhuNfLzDec— $FMCC $FNMA (@imKarma69) July 9, 2026

Recite this at 4pm. Rug pull in 3...2...1....😐️

Not that there has been any "official" discussion of the TXSE as a listing venue for F2, but the TXSE is NOT adding any "new" corporate listings to their exchange, like F2, until Q4. Obviously, the smart move is NYSE re-listing first (anytime before Q4), then dual listing on TXSE in Q4.

Here is the timeline TXSE is putting out:
The Dallas-based exchange is using a phased rollout over the course of July:
Test Securities: Trading of test securities officially kicked off.
Live Public Trading: The exchange is scheduled to introduce its first set of designated live securities on Friday, July 10.
Full Rollout: Additional symbols and equities will be phased in, with the goal of going fully live with all National Market System symbols by July 31.
Corporate Listings: The Member Readiness & Launch Guide details that Exchange-Trade Products are slated to launch in Q3 2026, followed by the first corporate listings in Q4 2026.

This feels worse than a recession!

F2’s Munich - CRUSHED!

On Airforce One coming home from NATO, President Trump was questioned about the housing bill ... he diverts most of the attention to the Save American Act ... reporters tell him the bill becomes law on Friday if he doesn't sign it ...

🚨 IT'S OFFICIAL: President Trump tells Congress that 94% OF AMERICANS want voter ID in the SAVE America Act, get it done to STOP the cheating nationwide

"It's called the SAVE America Act. It's voter ID. It's proof of citizenship!"

"You look in California. Look at what happened… pic.twitter.com/YVYf4NyH9J— Eric Daugherty (@EricLDaugh) July 8, 2026

Does “No Rush” mean back to where we started ?

The Public is not likely to see the full text of the Reg Capital Report but there should be some public acknowledgement that the Report was completed. Here is what Grok said on the likely information flow:

Yes, I can access details on it. It's the Executive Order titled "Promoting Access to Mortgage Credit" (EO 14393), signed by President Trump on March 13, 2026.

whitehouse.gov

Key Relevant Provision Section 4(c) states: Within 120 days of the date of this order, the Director of the FHFA, in consultation with the heads of other relevant executive departments and agencies, shall submit a report to the Assistant to the President for Economic Policy and the Director of the Office of Management and Budget on the efficiency of national housing finance markets. The report shall identify recommendations for regulatory or legislative changes necessary to address any regulatory or oversight gaps.

whitehouse.gov

This is part of a broader section on Capital and Liquidity Alignment, which also directs FHFA (along with other regulators like the Federal Reserve, FDIC, OCC, and NCUA) to consider revising capital regulations. The goal is to better tailor risk weights for portfolio mortgages, mortgage servicing rights, and warehouse lines of credit to reflect actual credit risk—especially for community and smaller banks.

whitehouse.gov

Context The EO aims to reduce regulatory burdens on mortgage lending to improve access to credit and housing affordability. It covers related topics like Federal Home Loan Bank (FHLB) initiatives and other mortgage market reforms.

mayerbrown.com

The 120-day deadline for the FHFA report would be around mid-July 2026 (roughly July 11–12, depending on exact counting). As of now (early July), the report hasn't been issued yet based on available public information, but agencies are actively working on related capital and regulatory reviews.

icba.org

You can read the full text directly on the White House site: Promoting Access to Mortgage Credit. Let me know if you'd like more details, analysis of related provisions, or updates on the report!

3 web pages

Analyze FHFA capital proposal impacts

Explore FHLB reform provisions

Will the public see this report or know that it has been submitted

Thought for 3s

Likely yes for awareness of submission, and probably yes (at least in part) for the content itself, but not guaranteed to be immediately or fully public .How These Reports Typically Work The EO requires the FHFA Director to submit the report internally to the White House (Assistant to the President for Economic Policy) and the Office of Management and Budget (OMB). It does not explicitly require public release.

whitehouse.gov

Many similar agency reports under executive orders are not automatically posted online upon submission. They are treated as internal advice to the President/White House.

What the Public Usually Sees Announcement of submission — The White House, FHFA, or OMB often issues a press release, fact sheet, or statement when a major report is delivered (especially on high-profile topics like housing finance). Industry groups, media, and stakeholders closely watch this deadline (mid-July 2026), so coverage is expected.
Full or partial release — FHFA frequently publishes reports, studies, or summaries on its website (fhfa.gov) when they relate to its regulatory mission.
If the report recommends regulatory changes, those often lead to public notices, proposed rules in the Federal Register, or requests for comment — making key findings visible.
The report (or large portions) could become available later via the Freedom of Information Act (FOIA), as it is an agency record. FHFA has a FOIA process, though responses can take time and may involve redactions for deliberative material or sensitive recommendations.

pylonlending.com

Precedents for this EO and similar ones show that related materials (e.g., stakeholder letters urging action on the report) are already public, and the report itself is widely anticipated in housing finance circles.

seekingalpha.com

Current Status (as of July 8, 2026)No public confirmation of submission or release has appeared yet — the ~120-day deadline falls around July 11–12. Watch for updates from: White House website / press briefings
FHFA.gov (newsroom or reports section)
Major housing/finance news outlets

Bottom line: The public will almost certainly know it was submitted (via announcements or news), and substantive parts or a summary are very likely to become public soon after, either proactively or through standard channels. If the administration wants to build support for reforms (e.g., capital changes for GSEs or banks), they have strong incentive to highlight the findings.

Currently, Jay Clayton confirmation hearing is scheduled for one week from today, July 15th. The Senate Select Committee on Intelligence has stated they want to move swiftly on his nomination. What that means for a timeline to put Pulte back exclusively in his FHFA chair I'm not sure, but it should be sooner rather than later.

Ackman loaded up with his new fund after the recent IPO

He did so at prices higher than today

He has to know or have some idea what is coming

Problem is Iran and delays

Time is the enemy

Ackman loading up with new fund is the only thing giving some hope something will happen

But when?

Probably when we least expect it

Which would be right about now

No one is expecting anything

lol

Go FnF

Jon McKernan as head of FHFA would be a positive step towards normalization for $FNMA $FMCC

He is likely to favor a review and recalibration of GSE capital rules. https://t.co/xqOiiNjhO8— Joey Prather (@pratjoey) July 8, 2026

Payne knew beforehand that shareholders are foolish to think that a corrupt government is going to do the just and right thing.
Corrupt governments plunder and pillage with disregard for the laws of the land.

Any more winks from Charles Payne ?

Barely crossed 1M 

Mighty quiet here in the FMCC wasteland! Only the occasional wandering zombie (deceased shareholder).

This is what winning looks like now counting housing!

https://www.foxbusiness.com/economy/average-new-car-payment-reaches-all-time-high-affordability-issues-persist

Germany Flat ! F2 talks have died!

RED - Germany, game plan has changed! Follow the crumbs!

"POTUS still holds Fannie Mae and Freddie Mac in a TEMPORARY conservatorship after the government has looted $301 billion of their equity. By his definition he's an Unpatriotic Communist."

His worth to us is rapidly diminishing. His true colors are beginning to show!

@POTUS still holds Fannie Mae and Freddie Mac in a TEMPORARY conservatorship after the government has looted $301 billion of their equity. By his definition he's an Unpatriotic Communist.@pulte @SecScottBessent @SecretaryTurner @howardlutnick @BillAckman @michaeljburry https://t.co/C9q4wA3qR4— Guido da Costa Pereira (@GuidoPerei) July 5, 2026

Ever since Bessent cold cocked Tommy Boy the stock has bleed. 4 months ago, I said Bessent is the problem !

Beast has been the problem since day 1

Needs to be told to do it or get fired asap

Trump is paying a big price for keeping Scott Bessent. Bessent’s major failures:1. Legal Failure of Tariff in SC etc..2. Failure to lower interest rates and influence Jerome Powell3. Failure to revive housing4. InflationIt’s time for a change and release F2