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Re: HoldenWalker99 post# 530831

Friday, 05/31/2019 6:57:34 PM

Friday, May 31, 2019 6:57:34 PM

Post# of 793255
Possibly the new preferred series would have cumulative dividends, unlike the existing JPS today which are non-cum. FnF do not have to pay existing Preferred holders back dividends.

Why would FNMAS, FMCKJ and FNMAT holders, for example, which make up about 1/2 of all outstanding JPS series, agree to convert to a JPS series at a lower coupon?