Fannie Mae-No Politics (FNMA)

[bcde]

"Judge Atlas probably won’t rule for some fairytale accounting. GSEs will get their overpayments back and SPS and 10% dividend survive."

RuudG,

As in the past, some JPS holders are coming up with these outlandish ideas.

SPS liquidation preference value goes up and down based on draws and repayments as per SPSPA. Third amendment changed it and made SPS as investment that can not be paid back.

If one goes by original SPSPA, SPS can be considered as paid off. Only remaining imposed obstacle is warrants. Warrants needs to be cancelled considering mob like conduct by Hank team and BO administrations. Another easy option is to let FnF buy back warrants at nominal price. There are no other easy options if WH wants to end conseratorship.