Fannie Mae-No Politics (FNMA)

[Here I am]

I didn't say that FnF would issue $140.2b worth of new noncumulative SPS (Core Capital). That's the maximum amount the Treasury can buy because it's the amount of funding commitment remaining.
The old SPS would be cancelled as they were repaid in 2013 and 2014.
In Twitter, I mentioned that it's only needed it for a Capital Surplus over a revised Adequate Capital level. Then $20 billion together would be enough if the Treasury reimburses the $148 billion due.
The SPS would have a low dividend. Because the Charter says that the obligations bought by the Treasury should have a yield similar to the Treasury yields at the time. So, similar to the current 30-year Treasury yield. 2.24% as of today.
The JPS would be redeemed at their par-value.