Fannie Mae-No Politics (FNMA)

[Wise Man]

No. Authority is a MANDATE, because the Treasury can't refuse to do it and it's in exchange for a Public Mission, where FnF take on huge credit risk, charging a very small g-fee prior 2009.
This is legislative wording. There are many examples. For instance, the FHEFSSA in the conservatorship section, prior being struck by HERA, stated with regard to the conservator:
AUTHORITY: take the same actions laid out in the section of Substantially Undercap and Undercap.

FnF issue guaranteed MBSs. I would have to read the charter again to see if it's stipulated in the charter.
The MBS prospectus reads as follows:
Guaranty: we guarantee that ....we will supplement amounts received...to permit payments on the related certificates (the MBSs are divided into certificates, not shares) in an amount equal to :
1 month's interests...
The aggregate amount of principal payments.