Fannie Mae-No Politics (FNMA)

[chessmaster315]

"Just the facts":

There is much misinformation, about the preferreds and commons. Here are the facts:
https://www.sec.gov/Archives/edgar/data/310522/000031052220000121/descriptionofsecuritie.htm

Highlights:

Holders of Fannie Mae Preferred Stock are not entitled to any voting rights, either general or special.

The holders of shares of common stock are entitled to one vote per share on all matters to be voted on by such holders.

Dividend Rights
The holders of shares of a series of Preferred Stock are entitled to receive such dividends as are set forth in the applicable Certificate of Designation of Terms as may be declared from time to time by our Board of Directors, in its discretion, out of funds legally available for the payment of dividends. Each series of Preferred Stock provides for quarterly dividends, with the quarterly dividend payment being calculated by applying a dividend rate to the stated value of the Preferred Stock.

Dividends on each outstanding series of Preferred Stock are non-cumulative. To the extent a dividend is not declared or set aside for a series of Preferred Stock for a designated quarterly dividend period, then the holder of such series of Preferred Stock will have no claim or right to such dividend payment in the future.

Exchange or Conversion Rights
The Preferred Stock has no exchange or conversion rights, except for the Series 2004-1 preferred stock.

As you can see, there is no conversion rights, no "contract guaranteeing preferreds will be made whole"

The MYTHS, which conflict the above, are rumors or myths, with no basis in fact.