Fannie Mae-No Politics (FNMA)

[kthomp19]

I read that post. I just don't see anything that supports the conclusion that release will happen any time soon, let alone before the equity offering.

The quote you posted from ACG Analytics:

"Calabria talked next steps in an all-staff mtg today -- raising capital buffer in a limited way and having GSEs operate under a consent agreement at point where they have enough $ to leave conservatorship but not enough to fully comply w/ new capital rules."

seems to support release immediately after the equity offering. I don't see how retained earnings alone could possibly be enough for FnF to leave by Q4 2020 (they would have maybe $30-40B in the bank, still leveraged well over 100:1 compared to the $5.5T liability base).