Fannie Mae-No Politics (FNMA)

[The Man With No Name]

Kthomp, your argument has been the CONTRACT SPSPA doesn’t allow the pay down of the Liquidation Preference with the cancellation of the SPS.

And that argument is absolutely correct.

That maybe so under the terms of the contract but the Law does.

No, the law doesn't. You keep referring to something that is discretionary, which even if it applied, still doesn't give the right to the FHFA director to pay down anything. That discretionary privilege (assuming it ever existed) was negotiated away.

The FHFA Director doesn’t need the Treasury approval.

It absolutely does.