We principally have an interim time from in between Conservation until Release From Conservation. For this I'm expecting that the FHFA will create an Interim Consortium by UST, FHFA and F+F to negotiate and deciding step by steps. At last phone conversation with FM Investors Relation they confirmed a Partner like relation with US Gov by nearly daily phone contacts with them. That provides preconditions for any Consortium and confirms also that there is presently much more Ongoing than we publicly become to know.
Presently we have the Collateral SPS Promissory & CS Warrant which by The Laws need to be cancelled because there is No Outstanding- Credit or any Financial Obligations, contrary FHFA & UST have to return Overpaid Money !
For may possible Interim Degressive Credit Line at Recapitalization to Issue New Collateral Warrant.
If for Recapitalization is used the Upper Limit of Gov Watt Version 2 The Political Favorite as it Reasonable looks like, it means for Fannie $ 85 Bn and Freddie $ 55 Bn and for Fannie Cash of only $ 23.2 Bn Requested by the Rest of Securities they already have. It means also the as one of several opportunities mentioned Re-IPO Offering has effectively other Financial Reasons to Avoid Liabilities as From 2008. Where only politically declared for Recapitalization, but Strategic is only to avoid Liabilities by replacing Old JPS with New Kind of JPS maybe with better conditions, better conditions for Who ?
