Fannie Mae-No Politics (FNMA)

[YanksGhost]

If you want a real clue to the Collins en banc outcome, listen to the exchange with the Treasury Department lawyer who states the NWS is like an interest only loan. Such loans are patently illegal under lending practices law and are often used against Fannie Mae in court disputes over loan modifications.

Illegal "interest only" loan provisions must be renegotiated and resolved between the two parties or the loan is NOT ENFORCEABLE.

I think the GOV may just get their head handed to themselves after this incredible gaffe. And this is just one of several, weeping holes in the dike exposed during the oral arguments.

JMO.