Fannie Mae-No Politics (FNMA)

[Hvp123]

but the deposition transcript of former Fannie Mae CFO Susan McFarland is illustrative. As we explained in our motion to de-designate the transcripts of the depositions of Edward DeMarco and Mario Ugoletti, a key point of dispute in the D.C. Circuit action is what the government knew about the potential for Fannie and Freddie to reverse their deferred tax assets valuation allowances at the time of the Net Worth Sweep. See Depositions Motion 12. We further explained that Mr. Ugoletti’s deposition testimony revealed that he had no basis for stating in a declaration submitted to the D.D.C. that “neither the Conservator nor Treasury envisioned at the time of the Third Amendment that Fannie Mae’s valuation allowance on its deferred tax assets would be reversed in early 2013, resulting in a sudden and substantial increase in Fannie Mae’s net worth .

In plain english they mean to say n prove that Ugoletti lied under oath :)