Fannie Mae-No Politics (FNMA)

[FFFacts]

People can be right on the final outcome but wrong on timing. That opportunity cost and holding cost can negate any award. Don't forget about inflation.

If there is admin action that process can take years. So if you are expecting par overnight based on expected admin action, I don't think that is realistic. Maybe a move to 40-60% on headlines depending on the plan of action.