Fannie Mae (FNMA)

[contrarian bull]

The way I read this it seems they just want to extend Jumpstart for another year. Is that how others read it?

This is worse than that. It also includes this:

"the terms ‘Dividend Period’, ‘Senior Preferred Stock’, and ‘Dividend Amount’ shall, with respect to an enterprise, have the meanings given such terms for purposes of the Amended and Restated Senior Preferred Stock Purchase Agreement, dated September 26, 2008 ... shall not take into consideration any additional amendment to such Agreement made after the date of the enactment of the GSE Jumpstart Reauthorization Act of 2017"

This means that Treasury or FHFA/Watt cannot amend the Senior Preferred Stock agreements either. They want to completely tie the hands of F&F and FHFA and Treasury so that congress has total control of what happens - if anything.