Fannie Mae-No Politics (FNMA)

[Wise Man]

Not even $1 will come out of FnF, in what looks more like an attempt by the DOJ attorneys to compensate their colleagues attorneys for the plaintiffs, for their job of covering up the laws, Finance and even Securities Law violations during Conservatorship, and give back dividends to the non-cumulative dividend JPS.
The dividend was impeccably suspended according to the law, yet there is always someone complaining about the lack of dividends, a suspension that has more to do with the capital requirements, not just the Conservatorship itself, as these are 258% higher than 2008 in the case of the Risk-Based Capital requirement in Freddie Mac, for instance. Although both issues are intertwined, since the UST chose a 3-option plan as "recommendations on ending the Conservatorship", at the request of the Dodd-Frank law "no later than January 31, 2011", that has one thing in common: a Private Housing Finance System, with the option 3 expressly stating "stringent capital requirements". A Private System, end point of Conservatorship (no UST backup of FnF anymore, that is, the Charter is revoked), is why the FHFA adopted the Basel Framework for capital requirements, an international standard for the same risk exposure, so it's not "bank-like" if FnF have different risk exposure. In the one that isn't risk-based, it's below "bank-like", as the Leverage ratio is Tier 1 capital greater than 2.5% of Total Assets in FnF, and 4% for the U.S. banks and 3% in Basel.
An option 3: Govt catastrophic-loss reinsurance, that is achieved with the new product unveiled by Freddie Mac on June 2022: Resecuritizations, already priced at 9.375 bps. Though, it might be private reinsurance, and then, we'd be talking about the option 1 or 2.

So, no one can say they didn't see it coming once the Separate Account is unveiled: endpoint, rehab power through the incidental power (take any action...), etc.
A made-up hybrid financial instrument, non-cumulative dividend JPS, recorded in Core Capital for its loss-absorbing capacity in capital matters, like all other items inside Core Capital. For which they get a higher dividend rate than the interest rate on similar obligations by the same issuer.
The Fanniegate scandal can't come down to attorneys illiterates in financial matters, attempting to sort out its resolution tailoring a kind of wish list, even including a compensation to the government snitches working for the DOJ, using funds taken from the enterprises or the common stocks.

Navy commodore asks again why there is no judgment, when I've already explained it to him here a few days ago.
He is unaware that the Wall St law firm representing the FHFA, instead of the DOJ, requested a motion to defer the judgment and everything melted down, as the FHEFSSA's Restriction on Capital Distributions not only bars this payment of Securities Litigation claims as the FHFA likely pointed out in the oral motion, but also any dividend and today's SPS LP increased for free.
(See the definition of capital distributions CFR 1229.13 that added up this item Payment of Securities Litigation Judgments in #3, to the 12 U.S. Code § 4502 - Definitions (5) Capital distributions)
The reason why it was an oral motion: it's all about covering up this restriction, a Prompt Corrective Action, by both counterparties: DOJ/FHFA - The plaintiffs.