Fannie Mae-No Politics (FNMA)

[Dollars1]

A lot of references today to 2nd quarter 2015.
From Watt's remarks today
"We heard these concerns, and we will provide more details in an update report that we expect to release in the second quarter of 2015. While the Single Security remains a multi-year initiative, we believe this update report will be a significant milestone in defining the structure and processes necessary to successfully transition to a Single Security in the future."