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That's $3.78 per share for the quarter!
By the way, we see how judge Willett, in the previous screenshot, claimed that FnF had returned to sound condition at the time, referring to the return to profitability, when, in a financial company, soundness is related to the capital levels.
That is, RETAINED earnings (Core Capital).
Adjusted $-216B Accumulated Deficit Retained Earnings account combined as of end of December 2023 and stuck every quarter at that amount with the ongoing Common Equity Sweep (Common Equity held in escrow though, in accordance with the law)
Which reminds me of the 6th Circuit Court of Appeals in the Robinson case with the omnipresent attorney for Berkowitz, David Thompson, with the judge also mistaking sound condition for "the return to profitability, even if a large portion of that profit was sent to Treasury's coffers".
Besides, mistaking solvent condition for the UST's Funding Commitment, when it refers to solvent condition on their own, not with the existence of a UST's Funding Commitment, which existed since the Charter's inception (limited to $2.25B that had to be updated to carry out their Public Mission)
Let alone the judge's radical view, contending that "FnF likely should not return to business as usual". No one asked him for his opinion.
And "nothing in HERA's text requires the FHFA to return the Companies to business as usual", the reason why was appointed a conservator in the first place, the expulsion of the prior management, and with a Power that directs the conservator to restore (put) FnF to a sound and solvent condition. With "may" an imperative in statutes, once the capital has been generated.
This is why the judges are barred from making decisions about FnF. Lack of understanding of financial matters, which is a statutory requisite to become FHFA director and thus, the conservator of FnF.
Rogue officials are using the Judiciary to provide the alibi, and legalize what isn't stated in the law and basic Finance and has ended up with judge Lamberth openly admitting that he wants to grant back dividends to the Non-Cumulative dividend JPS, while FnF remain undercapitalized.
Everybody wants dividends when they are restricted for the recapitalization of FnF: RETAINED EARNINGS.
They should learn that a dividend is a distribution of Earnings in the first place. That's the point. Besides unavailable funds with Accumulated Deficit Retained Earnings accounts.
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"every circuit ***to review*** 4617f"
#FANNIEGATE ATTYS BRING 4617f UP AGAIN
— Conservatives against Trump (@CarlosVignote) April 29, 2024
Courts step in if FHFA exceeds its powers.
Willett's half-baked ruling amending Sweeney's ("authorized by this section" deleted)said YES w/ the NWS div, in a Hindes-moment(the 10%div too)
Alito corrected Willett:"Rehab FnF...Can't you read?" pic.twitter.com/2nBGuAxvJ3
Oh yes. My mistake. I will now put you back on the Wynn Vegas party invitation list.
I'll still have 75% left, don't I still qualify?
Big Buys? Maybe we will have a WHALE of a time tomorrow!
Go FNF!
BOOM
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| Moderators not one red cent ~NORC~ stockprofitter Ace Trader EternalPatience jeddiemack FOFreddie | |||
Fannie Mae (the Federal National Mortgage Association, or FNMA) is a government-sponsored enterprise (GSE) in the U.S. that was established in 1938. Its main purpose is to provide liquidity, stability, and affordability to the U.S. housing market. It does this by purchasing mortgages from lenders (like banks), packaging them into mortgage-backed securities (MBS), and selling those securities to investors. This process ensures that lenders have more capital to issue new home loans, helping more Americans get access to homeownership.
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