Fannie Mae (FNMA)

[RumplePigSkin]

JPS PSA

Per the American Banker, they are already complaining about Calabria’s libertarian views. The Jan letter agreement will be dead after Scotus or will never be acted upon if Calabria stays. Either way, there will be a delay to raise capital because a Biden Treasury won’t play ball with a Trump leftover if Scotus doesn’t act.

If Scotus does act, it will take time to repropose all the stuff Calabria got enacted, a clean slate for affordable housing, which will also take til at least the end of Biden’s first term.

By the time all the dust settles, Commons appreciate. JPS with no dividends in sight may get to 50% of par. Another reason Tim Howard, the CFO who issued the very same JPS shares you’re invested in, called the JPS investment a “quagmire.” No way out ...

After Scotus it will be too late. Consider yourselves forewarned and balance your GSE portfolio accordingly.