Fannie Mae-No Politics (FNMA)

[TRCPA]

We don't have confirmation that anything is going to happen yet. What we do have are the stated desires from Administration, Treasury and FHFA that the NWS and conservatorship will end, and that it is likely that a public offering will be required to make that happen. That is it. Compared to what we had in the past, that is significant. But the skepticism that anything happens continues for probably a slight majority of the big money players.

When there is real meat put on the bones....i.e. a real plan, en banc ruling, end of NWS......we will get a significant bump in pps for each, imo.