Fannie Mae-No Politics (FNMA)

[Wise Man]

The BVPS of $FMCC rises to $164 from $159 under the Separate Account plan.
Common Equity = $106 billion.
The key: CET1=2.7% of Adjusted Total Assets, which means that the JPS can be redeemed and it would comply with Tier 1 Capital > 2.5% of Adjusted Total Assets in the ERCF.
After the JPS redemption, it'd have 67% of the Prescribed Capital Buffer, but it rises to 380% in the case of amortization into earnings of the Deferred Income in one fell swoop (Accounting Standard change necessary), because it holds a disproportionate amount.
🚨PER 14 times in Freddie Mac adjusted for the amount of damage award = $335, versus $312 in Q2, under a Privatized Housing Finance System revamp (no TCCA fees/CRT expenses, no Warrant and fully reserved against expected losses, that is, adjusted for Provision/Benefit for Loan Losses), proving that FnF have reported blowout numbers in Q3.

By the way, yesterday I didn't adjust the PER 14x of Fannie Mae, for the amount of damage award, here. It's $273 in Q3, versus $245 in Q2.