Fannie Mae-No Politics (FNMA)

[clarencebeaks21]

Robert,

Numbers are not my strong suit. That said, per FHFA website, the US Treasury’s commitment to each enterprise was last tweaked in the 2nd Amendment to the SPSPAs way back in 2009 (see link below for Fannie’s).

The doc says Treasury max commitment is the *greater of* $200 Billion, OR, that amount plus any deficiencies (and minus any surpluses) from 2010-2012.

So IMO the UST commitment to each enterprise is a known, hard-and-fast figure (certainly NOT unlimited) no less than $200B.


https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/SPSPA-amends/FNM-Second-Amend-to-the-Amended-and-Restated-SPSPA_12-24-2009.pdf