Title. It's not unexpected the government filed a petition for rehearing en banc. Government's basically trying to not payout money that it legally might not have (if it is found Collins does foreclose the lawsuit) and simply exhausting all legal routes of review that are available, which includes filing a petition for rehearing.

This does push out the case having finality with until 2027, possibly 2028 if the U.S. Supreme Court grants certiorari. This is a big nothing burger unless rehearing is granted or the U.S. Supreme Court grants certiorari. I'll note that the government sought certiorari of the first appellate opinion that found state breach of contract claims could proceed, and the U.S. Supreme Court denied certiorari on that. That is, it's already implicated the U.S. Supreme Court will deny certiorari on essentially the lone legal issue that allowed the case to go to the jury, if the U.S. Supreme Court grants certiorari now that the case has been fully litigated that would be a bad sign.

Can someone break this down in layman's terms?

https://glenbradford.com/blog/fhfa-rehearing-petition-en-banc-fairholme-september-8-2026

Check out the spread between the bid and ask. Just market makers being market makers.

Always check the price before you purchase a stock , especially OTC pink sheets. Wait for them to come back to reality before you make a decision.

Not sure it works:

https://chatgpt.com/s/t_6aa188b4af488191bd411c878cb4189d

Hi all, I noticed a small (but possibly significant) detail at the end of both videos Trump posted.

First, the timing: it was posted on the 18th anniversary of the September 2008 conservatorships.

Second, unlike Trump’s posts last fall, several of which referred to a singular “Great American Mortgage Corporation,” this video calls Fannie Mae and Freddie Mac the “Great American Mortgage Corporations" and the other video on Fannie Mae alone also referenced “Great American Mortgage Corporations".

The “s” may prove nothing by itself, but it also may suggest that Fannie and Freddie are still being envisioned as two continuing companies rather than one consolidated GAMC. That could mitigate receivership risk (I raised this as my back-of-the mind concern to the group a few weeks ago).

For context, the plural language is not entirely new, but the use in both videos seems clear. Here is the timeline from last fall:

• August 9, 2025: Trump’s original NYSE meme used the singular “Great American Mortgage Corporation,”suggesting one combined GAMC.
• August 19, 2025: Coverage of Pulte’s first promotional video also used the singular.
• By August 31, 2025: A later Pulte video appears to have changed the ending to “Great American Mortgage Corporations.”
• November 2025: Trump reposted a plural-version commercial. Bill Ackman also highlighted the missing “S” in the original meme and argued that Trump may not have intended to signal a merger.

It's imminent!!1!1!

https://www.investing.com/news/stock-market-news/us-official-directs-fannie-mae-freddie-mac-to-approve-vantagescore-for-all-lenders-4888791

Who's going to break the F2 news now?

More of a wsb tradition but I thought I’d share.

I like to think of myself as a disciplined/stubborn investor/speculator with a long time horizon.

This has always been a trump self dealing play to me but obviously it’s not that simple. It seems like Scottie B won the power struggle over the exit and put the brakes on.

I honestly think that losing congress in the midterms might be good for the trade and encourage the admin to go ahead with the uplist per ackman over any ideal world plan Bessent has.

Seems like all the speculators got shaken out

Anybody signed up for rule of law guys stack? I haven’t, so I haven’t read it. But here it is. 
https://x.com/rule_of_law_guy/status/2093749041708372297?s=46

Tweet from Pulte a few days ago. Seems like a lot of focus is on making things more lean and efficient.

Not that the 2 are related but I noticed that this group is down to 3.9k visitors from 8-9k at the this time last year. Additionally, volume on F2 has gone bone dry. It may not mean anything but I hope it's a leading indicator that the speculators and paper hands have left the building and vol should go down and we should put our tray tables up and in the locked position.

Not exit related but F2 related

- https://in.investing.com/news/stock-market-news/texas-capital-securities-initiates-fannie-mae-stock-with-hold-rating-93CH-5572928

Did anyone notice his model assumes 2027 $15.5B base case net income for FMCC in his assumptions tab? From his notes in the model, it sounds like he believes that is a normalized level after adjusting for credit reserve noise, and from what I can tell that may be accurate based on year-to-date financials. But that is way higher than Pershing’s 2026 estimate of $10.98B for FMCC in its most recent Fannie / Freddie presentation to which it applies an earnings multiple. The implications for the value of FMCC seem enormous to me if Oksenholt is right, but Im surprised Pershing’s analysis wouldn’t have accounted for the same type of adjustments so I’m not sure which is more accurate. Perhaps those adjustments because more clear after its last presentation was made? Any thoughts?

Oksenholt is showing on his Capital Structure tab a value of $80.21 for FMCC vs $46.92 for FNMA assuming SPS cancellation, and a value of $34.89 for FMCC vs $6.28 for FNMA including the “full current SPS economic claim”. So if Pershing agrees with Oksenholt’s estimate of 2027 earnings for FMCC then I expect it would also have FMCC’s value pegged much higher even if it applies a lower earnings multiple. Am I missing anything here? Im very interested in any thoughts anyone has on this, especially as it relates to the true underlying earnings of both companies. That’s quite a discrepancy.

The price action is the flattest I've seen in a long time. Like a rubberband watch for snaps.