Fannie Mae-No Politics (FNMA)

[Dollars1]

"Of these three components, the second (cost of capital) is by far the most significant. Despite the Enterprises' inability to retain capital under the Senior Preferred Stock Purchase Agreements (PSPAs) entered into with the U.S. Department of the Treasury in 2008, FHFA has established guarantee fee levels consistent with the amount of capital the Enterprises would need to support their guarantee businesses if they were not in conservatorship and retained capital."

http://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=Results-of-Fannie-Mae-and-Freddie-Mac-Guarantee-Fee-Review.aspx