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Re: contrarian bull post# 407418

Monday, 05/01/2017 5:11:11 PM

Monday, May 01, 2017 5:11:11 PM

Post# of 798325

Are the values of these trusts on the balance sheets adjusted to account for the ownership percentage held by F or F? Or do F&F own essentially 100% of these trusts so it does not matter?



No because the footnotes state they do not own any of the consolidated trusts. They own mortgages but none from the considered trusts. That's why their tangible equity is much higher than book equity.