Fannie Mae (FNMA)

[obiterdictum]

I believe FASB also made a change to push down practices in December, 2014 that may have vacated the old percentage parameters.

Let obiterdictum clarify or disclaim this, too.

https://www.pwc.com/us/en/cfodirect/assets/pdf/in-depth/us2014-08-pushdown-accounting-optional.pdf

Clarification: Below is the FASB November 18, 2014 update mentioned in the above article and included in the post that covered this previously.

Pushdown Accounting a consensus of the FASB Emerging Issues Task Force - Accounting Standards Update
http://www.fasb.org/resources/ccurl/345/908/ASU%202014-17.pdf

See post: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=127772844

It is has been recorded that the less 80% threshold guidance was the guidance used in determining the 79.9% used for the two warrants in 2008. Though an optional model is available currently for use, the less than 80% threshold was adopted in the SPSPAs and Warrants and is still contractually in use.

In terms of the US Budget that is approved by Congress, the Office of Management and Budget (OMB) considers the GSEs non-budgetary.

Therefore,

"They are not included in the Federal Budget because they are private companies, and their securities are not backed by the full faith and credit of the Federal Government." https://www.whitehouse.gov/sites/default/files/omb/budget/fy2017/assets/gov.pdf

The CBO provides budgetary information to the Congress, but does not create budgets that are voted on by the Congress. The CBO reckons the GSEs as federal entities, which they are not. They are private companies.

CBO treats the GSEs as federal entities when making its baseline budget projections and cost estimates, whereas the Administration treats them as private companies. Although Fannie Mae and Freddie Mac are not legally government agencies, CBO includes their financial transactions alongside all other federal activities in the budget because the federal government owns and controls them and is operating them for the benefit of the public. https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/reports/52089-gse-report.pdf - page 17

The OMB Budget counts in the real world of legislation, contracts and lawsuits. The CBO is an alternate source of alleged non-partisan, "independent analyses of budgetary and economic issues to support the Congressional budget process."

About the CBO
https://www.cbo.gov/sites/default/files/cbofiles/attachments/2016-IntroToCBO.pdf