Fannie Mae-No Politics (FNMA)

[Wise Man]

FnF announced CECL accounting standard of $0.2 billion and $1.1 billion, respectively, as of end of December. With the slump in the Treasury Yields year-to-date, they will drop their expectations to $0 in their next earnings report.
It means that their Capital needs are $0. This is why Calabria conceals his proposed Risk-Based Capital requirement.
The JPS are obligations and don't reflect the enterprise value of companies that earn $20 billion together.
Who is the illiterate in Finance that still holds even 1 JPS?
PUT YOU HAND UP IN THE AIR!