Fannie Mae (FNMA)

[Rodney5]

Set the record straight.

Quotes: “FnF do not and have never had the ability to pay down the seniors.

The seniors are equity, not a loan. There is no such thing as repayment of equity.

Even if the NWS hadn't happened, FnF still didn't have the ability to pay off the liquidation preference because of the terms of the contract that I quoted.

FnF did not have and never have had the ability to pay down the seniors any time they wanted to.” End of Quotes … Wrong!



In the Supreme Court of the United States, PETITION FOR A WRIT OF CERTIORARI

Hamish P.M. Hume Counsel of Record Samuel C. Kaplan Boies Schiller Flexner LLP

ELIMINATING THE NEED TO PAY ANY ONGOING SPS DIVIDEND.

Quote: “But this $149.4 billion estimate actually understates what Treasury has taken through the Net Worth Sweep, for two reasons. First, the Net Worth Sweep remains in effect, such that each quarter’s increase in net worth at GSE results in an increase in the Treasury’s liquidation preference in its senior preferred stock. Second, had it not been for the Net Worth Sweep, the GSEs would have been able to fully repay the amounts borrowed from Treasury, with interest, eliminating the need to pay any ongoing senior preferred dividend. “End of Quote page 13

https://www.supremecourt.gov/DocketPDF/22/22-98/230704/20220722162334690_Petition%20for%20Writ%20Of%20Certiorari.pdf