Fannie Mae-No Politics (FNMA)

[FOFreddie]

Thanks Familymang

You are right - I should have pointed out that Footnote No. 7 valued the UST warrants were valued at $ 4 bn and that the SPS was valued at $ 220 bn. This would imply that the Common equity is valued at $ 1 bn assuming the SPS stays in place. Your cite relates to the 2023 Budget but I think it is the same except that the warrants were valued a little higher?

There was no consideration given for the SPS with the possible exception of the original $ 1 bn each to my knowledge? Is that right ? It was just a contract between the GSEs under the control of the FHFA and the UST?

If the SPS is set aside in Collins, Rop or Bhatti - wouldnt that return most of the $ 220 bn of the SPS to the common equity of the GSEs?