Fannie Mae-No Politics (FNMA)

[Freddie bagholder]

TH

Does that make any economic or political sense? Of course not. But that’s the hole Calabria and Mnuchin dug for Fannie (with a comparable one for Freddie), and until someone in the current or a future administration (or, less likely, Congress) cancels or changes the January 2021 letter agreement, that’s where Fannie, and Freddie, will remain.