Fannie Mae-No Politics (FNMA)

[Here I am]

The SPS were paid off in 2013, in the case of FMCC, and 2014, in the case of FNMA, pursuant to the exception to the restriction on capital distributions in HERA. It signals that dividends are allowed only if they are applied to the purchase of shares or ownership interest and reduce the obligations. That is, the purchase of SPS.
At the time is when the warrant should have been cancelled, as it was issued to protect the taxpayer and after the repayment of the SPS, there wasn't other exposure of the government to FnF.
The CSS is the Common Securitization Solutions, a company 50%/50% -owned by FnF, that developed the CSP. The new Housing Finance System is based on the CSP and the UMBS. Thus, huge earnings expectations.