Fannie Mae (FNMA)

[contrarian bull]

If I recall the timer on liquidation is 60 days of negative net worth. But is that 60 days from the end of the last quarter when the books were logged, or from the release of the last report - or from some daily accounting given to Treasury?

I'm not sure the draws use the same dates as sweeps. I think the date for draws is open, but just has to happen before the 60 day timer I mentioned above expires.

My guess is treasury is looking at daily balances for f&f, kind of hoping the draw won't be needed if current quarter's cash flow is good enough. From what I hear freddie won't need a draw, but fannie probably will.

The $3 price from 2017 didn't take into account their $600M net worth because that was scheduled to be taken away. That price was mostly based on the crazy belief that Trump's administration would do something about f&f. That belief is long gone, so I think they will only trade on hope that treasury or fhfa does something, and the new $3B net worth when it comes back in 8 months.