Fannie Mae-No Politics (FNMA)

[MoneyRobot]

I prefer to look at bid/ask spreads as a ratio (divide the two) rather than a difference (subtract the two). This is also a function of liquidity: FNMAS's bid/ask spread is almost always lower than that of FNMAH, for FNMAJ, for example, even though the div rates aren't far apart

Yes, Liquidity plays into the spread. I like to call it difference because I used the difference between the ask and bid because I aim for a certain price and I want a higher chance to fill. There are different placement strategies when you see a certain range rather that a %. People sell in denominations and not %.
But, I get it. Good point.

Your 3rd is also my 3rd. The name. Fannie is more popular than freddie. I associate the fannie premium to this. Freddie is the stronger company though.

We pretty much agree. Although I want to add fix rate vs variable rates do affect the price. Fixed rates are more expensive but as rates rises variable closes the gap somewhat. I am the value shopper and I am to maximize RV over divy rate. I do hold fmcct/p/h/o also. I buy those when the fix/var pps are closer to parity.