Fannie Mae-No Politics (FNMA)

[Potty]

Nothing happens till the SPSA agreement between Treasury and FHFA -- THAT is going to determine to a very, very large degree what SP is going forward since it will (i) what happens to NWS (unless SCOTUS removes it) (ii) outlines what happens to senior prefered (ie whether retied and by how much), (iii) what happens to warrants and more

That agreement looks like it happens AFTER the election, since the Trump administration is laser-like focussed on re-election and nothing, nothing!, that might hinder that is allowed