Fannie Mae-No Politics (FNMA)

[YanksGhost]

The liability FHFA is trying to liquidate is $6 billion. At $1500 per loan, 4 million refi loans must pay the fee. But these borrowers are not the parties that received forbearance. Forbearance as announced by FHFA simply adds the forborne payments onto the back end of the loan. So there is no realized loss to FnF, just a retimed payment expectation.

Of course the CEOs paint a rosy picture; they want the money that extorts $6 billion from refi borrowers and becomes income for their IPOs. This is not some innocent act of penny ante nothingburger gambits.

The entire process is a F'd up mess, which is how this thread started, earlier today.