Fannie Mae-No Politics (FNMA)

[jeddiemack]

Couple things to put in perspective, generally, that an argument can be made and could be made that...

1. an interest rate above fed funds rate is a "taking". Why? because as a psuedo arm of the government transfer pricing dictates that one portion of government should pay the rate available to other arms of the government. Sort of like medicare that demands that it be charged its rate for services or the lowest rate offered.
So, in a sense, charging 10% when the prevailing rates were 2-3% is a taking.

2. the warrants if exercised would also be a "taking". Why? because the loans have already been fully paid back with interest. Therefore, taking more than what is due is a taking.

So, two things, and yes, I sorely wish i had the money to file suit for interest rate and for the warrants. Keeping in mind that under accounting lore; having a right to acquire 80 percent is control and most companies would consolidate the entities. But the government is skirting those rules. Somehow.

As to the calabria saying wait a minute on that change, well that's too late, its already entered into the record and ship has sailed. You had your chance, the fhfa did to argue that and it waived its right. Too bad. It should carry no water nor delay the process.