Fannie Mae-No Politics (FNMA)

[FFFacts]

There is no way a receivership is on the table with the directive that there is a moratorium and forbearance on mortgages and foreclosures. The government mandated relief should not negatively affect shareholders by forcing a receivership because of the regulatory harm caused.

I do believe a rights offering will be available for legacy common shareholders. I also agree that it does not make sense to convert some of the lower yielding preferreds at liquidation value.