Fannie Mae-No Politics (FNMA)

[mrfence]

There won't be any dividends until after the capital rule is met in full because it's not prudent under any analysis but the capital rule won't be so high either. This business model only deals in secured loans so doesn't need really high capital reserve levels as MC has tossed about in the past. That's why he hired financial advisors to help him arrive at a reasonable number. There's no prize for MC setting a standard any higher than what's reasonable to met the goals of protecting the tax payor and keeping the housing market stable because setting it to high would have an opposite effect.