Fannie Mae (FNMA)

[kthomp19]

When the 3rd Amendment is voided out what will be the share price?

There are way too many variables to give a precise answer here. The following questions would need to be answered to narrow things down:

1) Will Treasury convert the seniors to common as part of the NWS unwind, as the Collins plaintiffs are asking for?
2) Will the seniors still be in place (absent a conversion)?
3) Will Treasury have exercised the warrants yet?
4) What will FnF's capital deficit look like at the time?
5) How much capital would FnF have to raise to meet the capital requirements for exit? (Those should be the base, no-buffers requirements set forth by Sandra Thompson: core capital equal to 2.5% of adjusted total assets)
6) What is the status of the other court cases?
7) What is the then-President's stance on recap/release? (NWS unwind might not happen until the next Presidential term)

Depending on the assumptions one makes, the answer could be anywhere from $0.05 to over $50. #1 in that list is by far the most important.