Fannie Mae-No Politics (FNMA)

[cooler_heads]

Capital classification was an action by the director. NWS was action by the conservator. We're challenging the NWS as an action by the conservator that could be reviewed under Section 4623(d) if I'm understanding this correctly. They don't want it to be viewed as a capital classification change as it would “affect the effectiveness,” of the capital suspension. They're saying you could eliminate the NWS while keeping the capital suspension.