Fannie Mae (FNMA)

[big-yank]

In reply to your message:

1. No.

2. Basing a business platform involved in 90% of America's homes almost solely on gains and losses from derivative plays is hardly a mole hill. However, any fool could make a prediction of this phenomenon as it has literally defined Fannie Mae's Income Statements reported since 2013.

3. The principle on the total GSE loan investment is $187,000,000,000, plus or minus the adjustments that have been argued about and remain unresolved for many, many years. As you earlier agreed, you and I will never concur on the exact amounts involved in that debate. If the court rules that Amendment 3 remains legal and in full force, as both GSEs point out in their 10-Q's, that principle amount will have been reduced by $ zero.