Fannie Mae-No Politics (FNMA)

[jeddiemack]

The third amendment - amended the pspa - in it; as to declarations of dividends and the payment thereof indicate they are quarterly. They do not contemplate a cumulative effect and therefore; as an amendment that replaces what was in the original pspa it therefore controls. In the amendment there is no mention of cumulative dividends, therefore, they are not cumulative.

If you believe they to be then please reference wherein the third amendment they so state. If you can; and they are there then I will gladly acknowledge my error in thinking. You don't have to but, when wrong i admit it.

Thus far it does not appear I am wrong. Please advise.

Best regards,