tag:blogger.com,1999:blog-940142538364421402.post871425119414767167..comments2024-03-02T02:30:55.592-08:00Comments on Bill Maloni's GSE Blog: Mortgage Stuff, Honest: "Hello Governor"Bill Malonihttp://www.blogger.com/profile/17459277100798719104noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-940142538364421402.post-47851459987161081122014-08-03T11:34:03.922-07:002014-08-03T11:34:03.922-07:00Matt--I am glad I can help, if nothing more than t...Matt--I am glad I can help, if nothing more than to let you vent.<br /><br />My sympathy is with both common and preferred investors, having been one of those myself, at one time.<br /><br />And I know Guggenheim's business revolves around investors<br />of all sizes, although--as someone who worked for me used to remind me at bonus time, "bigger is better."<br /><br />But, if you made me finger point at a culprit, it would be--once again--the Congress, which never, never understood the role of GSE investors even long before "Conservatorship" was a fact.<br /><br />That was the result of not understanding business, in general, and thinking F&F were government agencies.<br /><br />My standard lobbyist line when I hit that on the Hill was, "Sir/Mam, Federal agencies aren't traded on the New York (then!) stock exchange.<br /><br />It didn't help them totally understand investor interests but but gave them something to think about.Bill Malonihttps://www.blogger.com/profile/17459277100798719104noreply@blogger.comtag:blogger.com,1999:blog-940142538364421402.post-28711619378091213612014-08-02T22:10:43.696-07:002014-08-02T22:10:43.696-07:00Hi Bill,
I will get in touch with you and Jaret s...Hi Bill,<br /><br />I will get in touch with you and Jaret soon. I am not an expert, nor a big shot of any kind. My primary concern is that me and anyone else who invested in Fannie Mae 5 years ago are treated like vultures. There were many investments I had to choose from at that time. Thousands of various investment choices have gone through the roof since the economy has recovered. No one is treating any other of the investments as vulture investments. I thought that housing, the economy, and the GSEs would recover and they did. Now I feel that someone is trying to retroactively undo my correct call on this investment and take it away from me because I am a bailout vulture. I find this line of reasoning ridiculous. I also invested in RZV at $10 and now it is $60. No one is trying to take away that gain from me and my Fannie Mae investment should not be treated any differently. I could have easily put that money in several other places and received a great return as well without having to be told to feel guilty about it. There are thousands of other investors with my same concerns, yet we are cast aside as money grubbers. <br /><br />I feel Fannie Mae and Freddie Mac do a lot more for Americans than the casual taxpayer realizes and that knowledge gap is being taken advantage of by the treasury and many in congress. I believe a strongly regulated, reformed GSE can be a solid company going forward and help many realize the American dream without putting taxpayers on the hook again. <br /><br />Not only am I concerned about my investment, but also in the hope that my kids can afford to get a loan on their own home in the future. I'm also concerned about my property value when lending tightens even further with a drastic reform of the GSEs.<br /><br />The exclusion of GSE shareholders from these types of meetings really concerns me and makes me feel that all the people that should be advocating for me are not doing so. I should really be used to it by now, but this one just got to me this time.<br /><br />Thanks for providing a place for me to voice my concerns.Matt Hillhttps://www.blogger.com/profile/15522057373852681455noreply@blogger.comtag:blogger.com,1999:blog-940142538364421402.post-46854554526741137672014-07-30T15:22:20.335-07:002014-07-30T15:22:20.335-07:00Matt--I mentioned your concern to Jaret Seiberg an...Matt--I mentioned your concern to Jaret Seiberg and he suggests you contact him at GP.<br /><br />Let me know if you need his email address.Bill Malonihttps://www.blogger.com/profile/17459277100798719104noreply@blogger.comtag:blogger.com,1999:blog-940142538364421402.post-51420908711003280132014-07-29T16:15:07.980-07:002014-07-29T16:15:07.980-07:00Not sure how those things work. I've done many...Not sure how those things work. I've done many of these conference calls and never get into who the invitees are--beyond "clients"--or what criteria the host uses.<br /><br />Generally, though, they can provide a tape or they leave the recording up for people who missed the original.<br /><br />I can ask Jaret Seiberg about GP's practices and will post his answer for you.Bill Malonihttps://www.blogger.com/profile/17459277100798719104noreply@blogger.comtag:blogger.com,1999:blog-940142538364421402.post-55562831702924956042014-07-29T14:24:18.189-07:002014-07-29T14:24:18.189-07:00Thanks for the updates Bill. I am a long time hold...Thanks for the updates Bill. I am a long time holder of some Guggenheim securities, including RZV and RPV. I am appalled of their lack of forethought in excluding many of their own clients that have made long term investments in Fannie Mae and Freddie Mac.Matt Hillhttps://www.blogger.com/profile/15522057373852681455noreply@blogger.comtag:blogger.com,1999:blog-940142538364421402.post-12068446861034097682014-07-28T18:11:16.594-07:002014-07-28T18:11:16.594-07:00Thanks, Matt--
You are the second person to ask a...Thanks, Matt--<br /><br />You are the second person to ask a variant of that question.<br /><br />Truth is that nothing in the comments/questions--more aimed at Michael than me--indicated any long term support or hope for a revitalized F&F and not being physically present prohibited me from mingling and getting any real feedback.<br /><br />That doesn't mean it didn't exist, since I assume that some, many, all of the audience were investors just that nobody blabbed it.<br /><br />I suggested to the last person who asked your question that they speak to/email Jaret Seiberg to see if he had a sense or even would discuss it.<br /><br />To be fair to Michael Bright, I sensed a certain skepticism in the questions he was asked about how the various bill parts would mesh when compared to the functions and roles in today's mortgage market.<br /><br />Since the bill still is a proposal and theoretically still being massaged by its sponsors to attract more support, there is no way to measure what may occur and how the parts, players, and new regulatory regime would work in concert.<br /><br />I have lots of doubts because of the variety of mortgage market stakeholders who backed off, shied away or even opposed CWJC.<br /><br />As noted, I can't see that changing until 2017, if then.<br /><br />The situation almost begs the Obama Administration to do something via regulation, which goes beyond tinkering at the margins.<br /><br />Bill Malonihttps://www.blogger.com/profile/17459277100798719104noreply@blogger.comtag:blogger.com,1999:blog-940142538364421402.post-33013913862872080982014-07-28T16:32:42.188-07:002014-07-28T16:32:42.188-07:00Great job Bill on representing the other side on t...Great job Bill on representing the other side on this reform! I'd assume Corker is already familiar with your blog and knew the line of thinking he would get from you beforehand. From my perspective you did a good job representing all the key points you've been talking about for years. Hopefully it makes a difference with their future efforts. Was there any positive feedback from them, or was it more of an information gathering exercise from their side?Matt Hillhttps://www.blogger.com/profile/15522057373852681455noreply@blogger.com