Fannie Mae (FNMA)

[FOFreddie]

Thoughts for Consideration:

Merrick Garland is a neutral to positive development for Shareholder Rights. Moderate Judicial philosophy that is not likely to do anything regarding the replacement of Calabria until it is legally certain. Is this after the SCOTUS decision or does the 5th Circuit have to make that decision on remand?

Sherrod Brown will want to cut the CRP capital requirements for risky or housing programs. Will this be a negotiation since the new CRP Regs will be finalized on Feb 16? Do you think he can get legislation through to override what Calabria will most likely have in place if he is replaced? Maybe a blessing in disguise since the Cap requirements were set so high?