Fannie Mae (FNMA)

[obiterdictum]

Someone can kindly do the calculations.

1. Found this calculator online. How does this look?

PDF
Spread Sheet

Booboo, according to the bill and to properly evaluate the bill, a 30 year amortization schedule for each year of aggregate draws is required.

(2) Treatment of enterprise draws on Treasury

That any amounts received, before or after such modification, during a single year by the enterprise as a draw on the commitment made by the Department of the Treasury under such an Agreement, shall be treated as a loan made by the Treasury to the enterprise that—

(A)was originated on the date of the last such draw during such year;

(B)has an original principal obligation in an amount equal to the aggregate amount of such draws;

(C)has a term to maturity of 30 years;

(D)has an annual interest rate of 5 percent for the entire term of the loan;

(E)has terms that provide for full amortization of the loan over such term to maturity; and

(F)shall be repaid by the enterprise in accordance with the amortization schedule established for the loan pursuant to subparagraph (E) of this paragraph, subject to paragraph (3).

This online amortization calculator can be useful.

http://bretwhissel.net/cgi-bin/amortize

2. One thing it doesn't take into consideration is interest paid to FNMA for the over-payments.

Yes. That was mentioned as a flaw in the bill. Let us see what remains after the annual loans are calculated in accordance with the bill's provisions and then address the overpayment concern.

Source:
Quarterly Draws on Treasury Commitments to Fannie Mae and Freddie Mac per the Senior Preferred Stock Purchase Agreements
https://www.fhfa.gov/DataTools/Downloads/Documents/Market-Data/Table_1.pdf

Dividends on Enterprise Draws from Treasury
https://www.fhfa.gov/DataTools/Downloads/Documents/Market-Data/Table_2.pdf