Fannie Mae-No Politics (FNMA)

[whitecorona]

While its correct, but not entirely true...

1. Warrants is moot since FnF have OVERPAID.. we are in TAKING situation already.. those whatever 30B+ need to be returned and Sr Warrant CANCELLED since that serve no value (DEBTS have been paid WITH INTEREST!!!)

2. Conversion of Jr Pref to Common is not in prospectus nor serve any value... its complicated to do that since u cant make everyone happy and it serves disadvantage to Common though as overall we are going to win.. but it dilutes unnecessarily.
Only thing I can see the outcome is to buyout Jr Pref separately (thats is the heart of the negotiation .. I think.. I dont think u can meet PAR values but.. good luck ! Perhaps let them settle market price early before RELIST happen so they can convert their Jr Pref to Common BEFORE release & relist per market price as well)

These 2 if they are doing it, then they resolve this deadlock and make housing great again.