Fannie Mae-No Politics (FNMA)

[Rodney5]

"can you specify the DOCUMENT page you are using"

Page 105... I wrote in the post.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174489275

Form 10 Q For the quarterly period ended March 31, 2024

Note 15: Regulatory Capital Requirements

https://www.fanniemae.com/media/51196/display

[RickNagra]

https://www.housingwire.com/articles/republicans-tell-fhfa-they-oppose-freddie-macs-closed-end-second-mortgage-proposal/

[Rodney5]

As you said, and you are right: "Statutory prohibitions, as a compensation with SPS is considered a capital distribution restricted." - So, tell me with the amount of money the companies have sent to the Treasury why the continued conservatorship?

Neither the Charter Act nor did HERA authorize the Treasury to charge a commitment fee on a line of credit to be paid by the Enterprise. The United States prohibition on assessment or collection of fee or charge to Fannie Mae, (section 304 Fee Limitation). Only Federal Reserve Banks are authorized to be reimbursed of fees, (section 309).

SEC. 304. SECONDARY MARKET OPERATION

Fee Limitation

Quote: “(f) PROHIBITION ON ASSESSMENT OR COLLECTION OF FEE OR CHARGE BY UNITED STATES.—Except for fees paid pursuant to section 309(g) of this Act and assessments pursuant to section 1316 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, no fee or charge may be assessed or collected by the United States (including any executive department, agency, or independent establishment of the United States) on or with regard to the purchase, acquisition, sale, pledge, issuance, guarantee, or redemption of any mortgage, asset, obligation, trust certificate of beneficial interest, or other security by the corporation. No provision of this subsection shall affect the purchase of any obligation by the Secretary of the Treasury pursuant to subsection (c) of this section.” End of Quote. Page 16

Only Federal Reserve Banks are authorized to be reimbursed of fees, (section 309).

SEC. 309. GENERAL POWERS OF GOVERNMENT NATIONAL MORTGAGE ASSOCIATION AND FEDERAL NATIONAL MORTGAGE ASSOCIATION

Federal Reserve Banks to Act as Fiscal Agents (Fannie Mae and GNMA)

Quote: “(g) DEPOSITARIES, CUSTODIANS, AND FISCAL AGENTS.—The Federal Reserve banks are authorized and directed to act as depositaries, custodians, and fiscal agents for each of the bodies corporate named in section 302(a)(2), for its own account or as fiduciary, and such banks shall be reimbursed for such services in such manner as may be agreed upon; and each of such bodies corporate may itself act in such capacities, for its own account or as fiduciary, and for the account of others.” End of Quote. Page 29


Link:

FEDERAL NATIONAL MORTGAGE ASSOCIATION CHARTER ACT
As amended through July 25, 2019

link: https://www.fanniemae.com/sites/g/files/koqyhd191/files/migrated-files/resources/file/aboutus/pdf/fm-amended-charter.pdf

[bradford86]

i think all he is arguing for is the audited balance sheet.

[FFFacts]

Collins screwed everything up. If not for collins Cala ria would still have been Director.

[Wise Man]

Instead of retaining earnings, you want FnF to increase the SPS LP for free and then, convert these SPS to common stocks, so that FnF post the Retained Earnings that they should have posted in the first place for the rehabilitation of FnF at that point in time, and with your stance, it's posted a lower amount because they would have to pay Income Tax, as it's a debenture (SPS, obligations in respect of Capital Stock) that disappears.

In this image, you see the step 1 (Net Worth increase = Net Income + OCI are Tier 1 Capital) and the step 2 (the effect of the SPS LP increased for free on the Net Worth). You want a step 3 to return to the step 1 (Retained Earnings is Tier 1 Capital).


Let alone all the statutory prohibitions, as a compensation with SPS is considered a capital distribution, restricted. Besides a breach of the FHFA-C's Rehab power, that refers to Rehabilitate FnF with the initial action, not a breach and then, years later try to rehabilitate FnF.

Your stance is beyond shenanigans.
Everything is unwound and the reality is that the FHFA used its Incidental Power for this joke: "Zing!".
Humiliating indeed.

[The Man With No Name]

JPS are redeemed, like SPS, not converted to Commons.

And where do you think those 100's of billions will come from? a unicorn's butt?

[Wise Man]

The Supreme Court required the "rehabilitation of FnF", adding "in a way, although not in the interests of FnF (awful ERCF tables), it's beneficial to (the written text states "in the best interests of") the FHFA", with the add-on "...and the public it serves", for the utilization of FnF for public policies.


Corroborated by judge Willett in the prior ruling over the same case, with "any action within the enumerated powers", which refers to the power of Rehabilitation, without saying it. This is why it was a half-baked ruling, synced-in with Justice Alito that finally said it: "Rehabilitate FnF": (may) put FnF in a sound and solvent condition", were "may" doesn't mean that the conservator is excused from complying once the capital has been generated (Legal dictionary), but about activities that make them take on more credit risk or bear losses, as explained by Freddie Mac here.


This is what the Restriction on Capital Distributions is for. A statutory provision covered up by the parties from the onset, in a clear case of collusion.

Justice Alito saw more his desire to peddle the hedge funds' Govt theft story, rather than what he was required, read the text, because there is no "monetary benefit" possible, as someone might think of with his opinion, in a regulatory agency, with respect to the entities it oversees, by any stretch of the imagination.
It's the benefit of a Separate Account plan and enjoy the pleasure of watching their Equity holders saddled with losses with their stocks trading at rock bottom prices (the stocks' fair value), and fighting against the assault attempt on the ownership by the holders of Preferred Stocks.


MAKE NO MISTAKE, the rehabilitation of FnF and actions authorized by this section, in the best interests of the Agency, go together at the same time.

You cannot take actions in the best interests of the Agency (10% and NWS dividends, and nowadays SPS LP increased for free) and then, 15 years later, claim that it's when you will "rehabilitate FnF" with the write down of the SPS that show up on the balance sheet, and the conversion to common stocks of the ones increased for free that are illegally absent from the balance sheet, which is what the government attorney, Mr. khtomp19, says in the comment that I'm replying to.

that writedown really would increase CET1/Tier 1/core capital by $193B.
I do think this is a viable path forward because it would allow FnF's retained earnings account to accurately reflect the reality of the company's health.
...and convert the off balance sheet LP into just as many commons as if they had converted the whole lot.

The reality of the company's health must be restored on a daily basis, both building up capital and with the reduction of the SPS, obligations that must be redeemed for cash, not increased for free out of the blue, because you wouldn't be rehabilitating FnF, measured in financial companies with the capital levels, not with the Net Worth.


Finally, the attorney Hamish Hume has a lot of explaining to do, for the voluntary dismissal of the Wazee case on May 22nd, and thus, refusing to file the scheduled appeal on May 24th, as seen in this image:

A case that, for the first time, challenged the ongoing Common Equity Sweep with the SPS LP increased for free every quarter. You cannot rehabilitate a company increasing the SPS LP of the government for free, in the same amount as the Net Worth increase.
Another capital distribution, restricted.
Remember: rehabilitate FnF and in the best interests of FHFA has to happen at the same time, otherwise it's NOT authorized by this section once the capital was generated.
What Justice Alito authorized, is a Separate Account plan. Hence the "not in the best interests of FnF" on paper (ERCF tables).

[Wise Man]

JPS are redeemed, like SPS, not converted to Commons.
This is the chart of a Non-Cumulative dividend JPS with the dividend suspended, assuming that Fannie Mae fetched the threshold 25% of Prescribed Capital Buffer for the dividend resumption (Table 8: Payout ratio), with the 3Q2022 Earnings report.
It's been estimated a 6% annual discount rate because this is what the market would have demanded.
Freddie Mac, one year earlier.
Nowadays, in overtime (Conservator Risk: "Take any action authorized by this section, in the best interests of the Agency". FHFA-C's Incidental Power) with the expulsion of the unwanted members (AT1 capital instruments holders -JPS), in time for the announcement of a Privatized Housing Finance System revamp chosen for the release by the UST in 2011, at the request of the Dodd-Frank law, which is only possible when CET1 > 2.5% of ATA, in accordance with the law and Finance (Separate Account plan).

[bradford86]

Good luck. Keep wishing for it. You may get it. Idk. Im not betting on it

[nagoya1]

I hope the GSEs are released sooner than later. The commercial real estate crash is going to hit soon and harder than the past 2008 residential crash.
Out of all the govrats, Cat man did advance the agenda. No one did squat beforehand.
I do wear a hat, to keep the sun away from my receding hairline and bald spot. Lol
I have to deal with J rats, the most debt on the planet. No where to hide from the gov debt kitting, they sell t bills and rebuy them, rinse and repeat.
Crossing my fingers and toes we get substantial gse news.
Fnma

[TightCoil]

Show the World you're Patriotic
by Loading up on FNMA and FMCC

[Donotunderstand]

Good Luck to all of us

I would suggest - and you likely know - that at this point the F and F JPS are a capital gain play.

If we all win - then we should expect that as JPS* become worth $25 (or an 'offer' for 50% or 75% comes) that dividends will be stopped and the paper (JPS) called in by F and F or whatever the name is then

*note if JPS get to $25 or some solid number - I also assume FNMA and FMCC will be providing a good capital gain from today's price - likely even better yet

[TightCoil]

Can't get one over on you...you is sharp

[Sammy boy]

Expect more Red, this Pom Pom is offer !

[Ace Trader]

When your retired time doesn't matter ! Will in time fannie and freddie be released come Nov 5th? What's the plan going to be in time? I have all the time in the world as I'm retired !

[Donotunderstand]

MRJ

I agree the NWS sucked

but the big action remains the STEAL by Bush and Paulson and SCOTUS denying us any rights

The NWS was salt in the wound ---- but had there been no WOUND --- there would be no NWS

I say that as it is what i believe AND a defender or BO ----- (but a defender who does say (100 times by now) the NWS was 100% a complete Taking)

[Donotunderstand]

I have no idea who of JOE and DJT might free us
No real idea

But it bugs me no end when we had 4 years of nothing and even negative (re capital level) under DJT - why those who otherwise love DJT keep saying he is good for us

There simply is no such proof (other than some words early in his admin - positive words but that became a report - policy that includes the option of closing them down; and a letter very supportive but a letter to one Senator after he was out of office and talking about common stock the GOV owned - so IMO a joke)

but - I think the answer - life with value or death - is an Executive Branch action

[Freddie bagholder]

You still 47?

[Wise Man]

CORRECTION in yesterday's comment: WAZEE CASE. The DOJ wanted Sandra Thompson in, not out as Defendant.
It uses same wording of the Rule 25, which is all messed up.
It doesn't change the point: blame Calabria.

CORRECTION(WAZEE):@TheJusticeDept WANTED ST IN
Same Rule25 wording "the successor is substituted"?
"Automatically" 2yrs later(It proves the point: Blame Calabria)
Last-minute substitution once the DOJ was told "no appeal" soon.
And
Blame DeMarco: ST dismissed(Lamberth)#Fanniegate https://t.co/f2gVswLo9g

— Conservatives against Trump (@CarlosVignote) May 27, 2024

[Wise Man]

Yikes! The "cash guy" that invented the concept "cash Equity", better known by the corrupt attorneys as "Hi Rum!" in private emails, strikes again.
He is happy that FnF get to keep the cash with the SPS LP increased for free, so they can make investments, notwithstanding that FnF have $8 Trillion in MBS (a MBS is called "investment in a mortgage") with the cash provided by the MBS investors.
They have also tonnes of cash for Liquidity in their Contingency Portfolios ($129B in Freddie Mac and $120B in Fannie Mae, as of end of March 2024), with investments in debt securities among their "Eligible Assets", like Treasuries, valued at fair value, not like the battered banks with their HTM portfolios, enabled by their imprudent Regulators.
Additionally, other Eligible Assets in their mortgage-related investments portfolios (investments in Agency MBSs).

All that matters is the effect in Equity or Net Worth. That's our wealth in a company.
And if you read "Common Equity Sweep", you should be worried, because "Common Equity" is the portion of the Net Worth that belongs to the common shareholders, and CET1 is what is required for the recapitalization (rehabilitation in a financial company: restore to a sound and solvent condition).

Only real difference is... the companies keep and are able to reinvest the earnings and in this interest rate environment is worth something.

This isn't about "greed". Each stock class has its role and risks, which has been exacerbated by Regulatory Risk, unrelated to the Conservatorship, with a capital requirement that has spiked from 0.45% of the MBS Trusts (off-balance sheet obligations) to 2.5%.
Conservator Risk in the last phase, when the FHFA sought to expel the unwanted members (AT1 Capital instruments like the JPS) like occurred with the FHLBanks in a 2016 Final Rule, and it's waiting for the release, not just with CET1 > 2.5% of ATA, but also it aims to comply with 25% of Capital Buffer for the resumption of dividend payments (Table 8) in time for the announcement of the Privatized Housing Finance System that the UST recommended for the release in a 2011 Report to Congress.
This is why we have waited for the 1Q2024 Earnings reports and the laggard Fannie Mae (Separate Account plan: illegal CRT expenses, net, and PLMBS settlement, included)

If you don't like it, like the UST backup of FnF as a last resort "at rates that take into consideration the Treasury yields as of the end of the month preceding the purchase", or investments in Non-Cumulative dividend JPS, the Charter is revoked and you don't buy JPS anymore in the future. But until then, don't try to change the current status with multiple cover-ups and abuse of court process, because that's a felony and we will request $4.8B in Punitive Damages, and everything will be unwound (The Lamberth rebate, etc.)

when greed got in the way

The Conservatorship cannot be extended just because there are investors that don't want to reckon the risks mentioned, and they rather see their dividend suspended in the hands of the Government, instead of being kept by FnF for the recapitalization, as always, and spending all day sending messages to the common shareholders: "Thanks for sharing", when that's impossible because each share class has its stock valuation, or "The government be appropriately compensated" (Mnuchin), when the Charter Act prohibits additional fees or charges, other than the rate on SPS mentioned before.

If you have been sent to the Freddie Mac board, take all your aliases with you.

[Wise Man]

This is why the UST recommended the Basel-framework for capital requirements, for the release from conservatorship, in its 2011 Report to Congress at the request of the Dodd-Frank law.


It required guarantee fee increases that reflect their risk, so that FnF can be held to the same capital standards as the banks. Thus, don't depend anymore on the UST backup of FnF in the Charter Act.
15 years in the making.
Don't worry about the release.
You should worry about the corrupt Plaintiffs and Co that want to deplete capital in FnF with the 10% and NWS dividends, the SPS LP increases for free, etc.

I think it would be more accurate to say that they cannot assess the economic consequences for the housing market and the economy in general if they release the twins.

[Ace Trader]

I own a huge amount of Freddie $50 JPS and Fannie $25 saving them for dividend payments into my retirement later years and when / if released ! My freddie commons are a wild card play, I own more of those than JPS and have flipped them a couple of times but holding tight for a run up to Nov and into 2025 see what happens. That's my game plan everyone has there own! Trade accordly ! Happy to see everyone make a ton of $$ if they ever get released !

[MRJ25]

Yes, the government behaved like a bunch of crooks and it got worse when Geithner/Obama implemented the NWS.
If the NWS has not happened we would be released already.

[FOFreddie]

Yes - several billion dollars of JPS were sold - I bought FNMAT at $ 25. The Growth Fund of America bought more. No disclosure by the UST - this memo was not public until 2013 or so as the FCIC Commission records were made public. The NEC and UST knew that this was going on all along and duped the Senate Banking Committee including Calabria that they were dealing fair. Also - they let Wall Street sell Billions to unknowing JPS investors.

[stockanalyze]

i have to agree with you. i do wonder paulson, corker, demarco, alito, calabria , mnuchin who foked this, belonged where? and if they just hate these two companies philosophically that has saved our economy over and over again and still making money hand and fist?
there is optimism here only because lael has already declared that current admin isn't doing anything, so that road is closed. so can't blame everyone to look on the other side, right or wrong. they are hoping, hoping that it will happen this time. may be proved wrong. interesting that he says courts, judges, cases are all rigged but when it comes to gse's , he doesn't? the politicians are adept in making money for themselves in stock market (pelosi, djt stock, buzzfeed, mnuchin on ny bank, crypto and so on...) but when it comes to taking away hard earned retirement and 529 that has all been taken away , $1500 down to $0.40 over last 16 years, with many dead without seeing a penny. nada.

[MRJ25]

After the letter, dated March 8, 2008, the regulator declared that FNF were sound and solvent. Hank Paulson stated that treasury did not plan to inject capital into FNF. After that letter FNF sold JPS and obtained a lot of capital that way.
Yet Hank Paulson put FNF in C-ship in September, 2008 by force.
It is all lies!

[TightCoil]

Looking for big rally on Tuesday for Fannie and Freddie
Calling Strong Buy then Hold for the GOLD
Buying into Fannie and Freddie is Patriotic
because you're investing in America

[EternalPatience]

You are wearing your R hat and looking through that lens

Answer this to yourself :- if you get the vibes in the next 4 months that Biden will release in 2025 and similarly you get the vibe that Trump is going again with Mnu and MC, if you think you will vote Biden, we can have a argument

Btw, I ain't no D if you think I am one. I hate politics

[Donotunderstand]

Calabria was appointed by DJT and was there for two years under DJT - with MNUCHIN as Treasury and Barr as Justice

So - choose of the only real two choices

DJT as POTUS - is a flunky managed by his appointees? or he is easily fooled by them? or they simply ignore him with no consequences? that would explain nothing good

Or IMO REALITY

DJT did not care one wit about F and F and equity -- that would explain nothing good

Moderator - all this political talk said in context of many posters noting an expectation of massive great gains in PPS due to ACTIONS by "DJT round two"

[Donotunderstand]

what about the paragraph I posted that repeats in clear language that every dollar - to the dollar - of growth in so called reserves is matched with an IOU to the LP count --- do you not understand . Holding cash but writing an IOU is not moving an inch (unless someone sometime kills the LP (wipes it out - calls it paid off) -- and THEN and ONLY then the CASH has a real worth


there was no end to paying a shitload of money to GOV - period

there was a lot of noise --- but it lead to a report - adopted by POTUS - that offered as an equal option -- bankruptcy

If you like DJT - cool ,, - but nothing in his four years as actual POTUS and head of Treasury and head of Justice proves he favors anything good for equity holders (note in your writing and that of other DJT fans ---- it is OBAMA and BIDEN who are no good - but in the case of DJT all the talk is about underlings who thwarted him ----- do you not see how that is not logical)

[Donotunderstand]

the NOV election has ZERO to do with anything FNMA

[Donotunderstand]

Thank you

can you specify the DOCUMENT page you are using - as I did not see a table

[Donotunderstand]

Re xxxx 552

all I was saying is - at 50% of PAR/FACE or $12.50 on the $25 JPS - I would sell 50%

A different poster had their reasons why they thought that might be an end or major resting point

[jeddiemack]

The LP -v the Swipe is essentially the same... just a slight of hand trickeration on the uninformed public.

Only real difference is... the companies keep and are able to reinvest the earnings and in this interest rate environment is worth something.

How this ends... nobody knows. Its all speculative at this point of the temporary con-serveratorship.

I'd like to believe that eventually someone will speak up; and unmask the thieves and the roaches will run from the room so the peoples business can be done without the hooligans.

The goal here should have always been put the entities back to the shareholders after using them to calm the markets; but that's when greed got in the way and that's where we are now....

[Ace Trader]

I was just thinking about the timing of all this the other day and it got me thinking. WHAT TIMING, how it all went down in 2008. It's pretty much a steel of private companies for the banks and greedy WEF to control the world in every aspect. Remember what they said ( YOU WILL OWN NOTHING AND BE HAPPY)

Those losses are just the beginning.
As shareholder capital gets wiped, the government will have no choice but to seize the company and
place it in conservatorship or receivership. Importantly, mortgage-backed security holders guaranteed
by Fannie Mae will see no losses.

Classic grab by those in power!!!! Turning the mortgage market into a Cartel just like the dollar, Banks, Car market, Food production, Medical. It's happening faster now across the board so if DJT does win the Whitehouse then what will 2025 to 2028 look like? Will there be changes in the mortgage companies Fannie and Freddie????

[FOFreddie]

HI Ace - it is not What IF - it is what was actually planned:

From the NEC to the UST on March 8, 2008

https://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2008-03-08_Treasury_Email_from_Hason_Thomas_to_Robert_Steel_Re_Source_document_for_Barrons_article_on_FNM.pdf

Government Bailout Is Necessary, Likely, And Potentially Helpful

Fannie Mae is demonstrably a failed social experiment. A realistic assessment of its balance sheet shows
its net worth to be overstated by tens of billions of dollars and the company to be already insolvent.
Even with all its accounting legerdemain, Fannie's losses are an accelerating horror show, with
shareholders losing $1.5 billion in 07Q3 and $3.7 billion in 07Q4. Those losses are just the beginning.
As shareholder capital gets wiped, the government will have no choice but to seize the company and
place it in conservatorship or receivership. Importantly, mortgage-backed security holders guaranteed
by Fannie Mae will see no losses. The government will likely allow debt holders to fare okay, with either
no or token losses, perhaps 1%.
Shareholders, both common and preferred, are likely to be left with nothing. However, these
shareholder losses have already been locked in by the company's credit decisions over the past few
years and cannot be helped. It must be remembered that Fannie is the biggest mortgage risk holder in
the biggest mortgage crisis.
A fully government-owned guarantor of mortgage debt might be exactly what is called for given the
current housing crisis. While various proposals have been floated to expand the FHA to meet this role, it
has neither the infrastructure nor the expertise to address the broader mortgage market. A nationalized
Fannie Mae would be refocused to directly address the various problems of illiquidity, affordability, and
sustainability in the mortgage market. Without the need to satisfy a fiduciary duty to shareholders,
Fannie might finally be able to perform its affordable housing mission in a helpful and proactive manner.

[Wise Man]

It's the same Common Equity Sweep as before.
Instead of through a cash dividend payment, through the offset attached to the SPS LP increased for free.
The same Retained Earnings account (CET1) flushed down the toilet.
Same prohibition and the same breach of the FHFA-C's Rehab power.
A NWS 2.0.

[trunkmonk]

He and SM did it under pressure, it was the greatest learning event in the 15 years of GSE theft. but it seems P lawyers and KTCarneyCorker types, cant see it, or just want to ignore it cause of their laser focus loss efforts of greed.

[Guido2]

He did that only after the 5th Circuit Enbanc ruling. After becoming their Conservator, he still sent one sweep to the Treasury.

[RickNagra]

Calabria aka Calamari also hid the stress test results. He plays with his cat all day long. He is no good. He now posts here everyday under the user name FFFacts and makes fun of my new girlfriend Gabby and our first newborn and many more to come.

[Wingsjr]

It literally just popped up on the sticky board.

[nagoya1]

Calabria did something, he stopped the 3B limit, ended the NWS, placed a capital limit, to lead the GSE, contrary to all the other preceding govrats.
Can you prove otherwise…
Doing something is better than doing nothing. I might not have been pleased by the limit and the snail pace.
There was also the Trump release letter. Hmm.
You seem to provide empty words.
Fnma

[RickNagra]

I prefer 100% of $325 if you don’t mind. Maybe throw a few bucks to Sherwin on the way out. Gotta feel bad for him. He tries so hard end of day.

[EternalPatience]

It will be awesome if housing or GSE conservatorship question comes up in the first presidential debate.. We can listen from both the horses mouth on what can happen in next term.. My guess is still,. it willbe lipservice from both...and no action. but atleast something

[LuLeVan]

I think it would be more accurate to say that they cannot assess the economic consequences for the housing market and the economy in general if they release the twins. We are talking about more than $8 trillion of FnF MBS - a lot of risk, and a lot that could go wrong. That's why they're postponing it forever ("never change a working system" - even if it's fraudulent).

"They don't know how to end it.."

It is as simple as it has always been . . . just a signature. Both F&F know what to do when the conservatorships end.

[Wise Man]

BOOM. We have proof of the DOJ's involvement in the "Exit strategy": Blame DeMarco for the NWS dividend and blame Calabria for today's NWS 2.0 with the SPS LP increased for free every quarter.
This way, Sandra Thompson is left with the role of Regulator and she had nothing to do with the Conservatorship.
The recent Senate Hearing was held to the same end: "Oversight of Federal Housing Regulators", with the chairman of the Banking Committee unaware that the status of FnF today is still Conservatorship status.

The DOJ has been using the Wall Street law firm representing the FHFA, to do the dirty job in the Lamberth court: fiction claim (implied contract claim) and fiction damage, with the one-day share price drop on the 3rd amendment-day.
In the Lamberth court, we saw how the parties (FHFA and the attorneys Hamish Hume and David Thompson) requested that Sandra Thompson be dismissed as Defendant, and the two jury trials, have had the slogan: "Blame DeMarco" also peddled by their social media crew 24/7.
This week, the attorney Hamish with a different case, Wazee, and the other party, requested that Sandra Thompson be substituted by Calabria in their official capacity.
The bombshell is that, this time, one of the parties is the DOJ and it signed this brief that ignores the Federal Rules of Civil Procedure: Rule 25 Substitution of Parties (d) Public Officers: once an officer that was sued in his official capacity, resigns or retires, he is substituted for the successor in his official capacity, and not the other way around.

The DOJ ignores that a Separate Account plan has to be unwound, and not to start suing the officials responsible for each of the different phases, just because you are annoyed of this separate account and you have found a way to get around it with crooked judges and, desperately, peddling judicial maneuvers and financial flaws ("SPS, off-balance sheet", etc).

The attorney Hamish Hume ended up relinquishing the scheduled appeal in this Wazee case, once he finally realized that it dynamites the Lamberth case and his fat bonus attached, because it's the same Common Equity Sweep restricted as the prior NWS dividend, and not a Wonderland as the attorney for Berkowitz, David Thompson, peddled in the courts seeking damages: "With the SPS LP increased for free, the UST gets rich and, at the same time, FnF are recapitalized" (Collins case on remand).

A cover-up of the Restriction on Capital Distributions (Dividends and the ongoing SPS LP increased for free) that would also prohibit his fat bonus with the Lamberth rebate (CFR 1229.13).
A MOTIVE for the felony of Making False Statements for the cover-up of a material fact.
We also have OPPORTUNITY: a conservatorship, where the powers are transferred to the conservator and it's authorized to carry out a Separate Account plan (FHFA-C's Incidental Power).
And MEANS: the judiciary proceedings can be extended for years and the judges and attorneys aren't knowledgeable of the technical financial matters (Capital, dividends, Retained Earnings account, Equity or Net Worth, etc.), or the clear intent to play the fool with these matters, as the evidence heard from the self-proclaimed "unsophisticated lawyer. I am a litigator", the attorney for Berkowitz, David Thompson, in a Conference Call hosted by another hedge fund manager, Tim Pagliara.
These 4 tweets melt everything down:

EXIT STRATEGY: BLAME DEMARCO/CALABRIA@TheJusticeDept involved: Unaware of Rule25 "in official capacity".
But when atty Hamish saw that today's gifted SPS is Common Equity Sweep like the NWS div(RESTRICTED),not "Recap"(Berko's atty,DT),he scrapped the scheduled appeal.#Fanniegate https://t.co/TJhNaH0H32 pic.twitter.com/3L2ZEckbTx

— Conservatives against Trump (@CarlosVignote) May 26, 2024

FHFA/@TheJusticeDept:UNAWARE OF ONGOING CONSERVATRSHP
W/ appeal scheduled for 5/24, the parties asked to switch ST for Calabria, in their official capacity:
-NWS 2.0 began w/ Watt(2017)
-Ongoing NWS 2.0
-Calabria no longer an official.
ST is regulator, not conservator?#Fanniegate https://t.co/barQmamOf2 pic.twitter.com/20mhrMDWzR

— Conservatives against Trump (@CarlosVignote) May 24, 2024

[jog49]

"They don't know how to end it.."

It is as simple as it has always been . . . just a signature. Both F&F know what to do when the conservatorships end.

[Wise Man]

You said "SPS increased for free in Separate Account".
Which is like khtomp19's "SPS, off-balance sheet".

Is that total LP reflected on the balance sheet?

has Wise Man been correct all along and it is in a separate account not reflected on the balance sheet?

They are unlawfully missing in the balance sheets, along with their offset with reduction of Retained Earnings account (CET1).
A Common Equity Sweep.
A capital distribution restricted and a breach of the FHFA-C's Rehab power.
Then, necessarily, this Common Equity is held in escrow.
You fool no one.
It's time to change diapers, plaintiff Joshua Angel.

[Ace Trader]

In the mean time the GSE share price will be 100 times that it is today once release even if there's a R/S in the common shares but long term this will be priced just like the major banks in time.

Once the warrants are sold off and who knows what will happen with the SPSA but one thing is sure there will be an auction off of the Gov state in common share and there will be a lot big compaines linning up for it !!!! Commons will sore after new offering and R/S !!