Fannie Mae (FNMA)

[MannSinger]

Judge may apply NWS towards 187B+10%, rest muted or denied in Bhatti case

Based on the oral arguments, it is clear that Judge in Bhatti may ask FHFA to apply NWS towards 187B+10%. Other claims in Bhatti case may be denied or considered mute.

From yesterday's filing:
3. First, the Court asked several questions about the specific mechanics of unwinding the Net Worth Sweep. See, e.g., id. at 22:20-23 (“Has anybody just ballparked this, that if they had never signed the Third Amendment, if they had just gone with the regime that existed before the Third Amendment, what the dollars would look like today?”). Plaintiffs propose in their supplemental brief to provide the Court with an explanation of
how the Net Worth Sweep could be unwound, along with a calculation demonstrating how this unwinding would affect the balance of Treasury’s holdings in the Companies.