Talks between lawmakers on the Senate Banking Committee and a group of democrats seen as the key swing votes to advance an overhaul of Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCQB: FMCC) broke down, furthering the idea that the bill won't get past the committee this year.
According to Nick Timiraos of The Wall Street Journal, Efforts over the past week had focused on winning three of six uncommitted democrats on the panel: Senators Elizabeth Warren of Massachusetts, Charles Schumer of New York, and Robert Menendez of New Jersey.
If the bill doesn't pass, the United States would continue to control Fannie and Freddie. One possible solution is to restructure the firms rather than replace them.
FNMA closed at $4.16 on May 8th, 1.46% up from its previous close of $4.10.
FMCC closed at $4.10 on May 8th, up .74% from its previous close of $4.07.
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USA Real Estate Holding Co Plans To Acquire Land In Medical Marijuana States
USA Real Estate Holding Co (OTCPINK: USTC) saw its stock volume skyrocketed on May 8th with 264,642,752 shares exchanging hands, eight times higher than its three month daily average volume of 32,709,475 shares.
This uptick in volume comes after the company announced as part of their new business plan, they will be investing in limited partnerships designed to produce income, as well as acquiring land in states that allow medical marijuana and in the legalized states of Colorado and Washington.
USTC is a development-stage company with the intent to purchase commercial or other real estate properties, including the land, on which are located retail stores. Their plan calls for us to then lease back the property we purchased to the retailers who operate upon it. Their goal is ultimately to own a portfolio of commercial properties, leased out to the retailers who operate out of each respective property.
USTC closed at $.0033 on May 8th, 65% higher than its previous close of $.002.
Zoned Properties, Inc. Plans To Do 1:120 Reverse Stock Split
Zoned Properties, Inc. (OTCPINK: ZDPY) saw its share volume soar on May 8th with 370,150 shares exchanging hands, significantly higher than its three month daily average volume of 82,202 shares.
This surge in volume comes after the company announced plans to do a 1:120 reverse stock split. Paperwork has already been filed with FINRA and the company expects it to go into effect within ten days.
Zoned Properties, Inc. is a strategic real estate investment firm whose primary focus is acquiring commercial properties that face unique zoning challenges. Zoned Properties, Inc. will acquire commercial properties zoned within a variety of usage types such as industrial, agricultural, activity, performance or as well as mixed use. Zoned Properties, Inc. also targets commercial properties that can be acquired and potentially re-zoned for specific purposes.
ZDPY closed at $1.14 on May 8th, down 22.97% from its previous close of $1.48.
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