Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

JPS is getting called at par and has no future beyond their extinguishment.

Interesting. I guess the GSEs are planning on selling an additional ~$66B in Commons then. The first $33B being the capital JPS represent on the balance sheet (not CET-1). The second $33B being the amount needed to redeem the Jr. Preferreds at Par.

Man, you must be expecting an incredible amount of dilution. I would imagine Commons will see sub-$1 based on this. And then the 50:1 Reverse Split would take Commons to $50 for the re-IPO.

Exciting times to be in FNMA!