Fannie Mae-No Politics (FNMA)

[Wise Man]

Neither Howard refers to repayment but forgiveness, nor the dividends were actual dividends but assessments in the form of capital distributions under the guise of dividends (restricted and unavailable Earnings for distribution as dividends, out of an Accumulated Deficit Retained Earnings account) that we apply towards these exceptions to the Restriction on Capital Distributions in the law/CFR (Separate Account plan):
-Reduce the SPS. FHEFSSA (U.S. Code §4614(e))
-Recapitalization. CFR 1237.12.

Playing the fool is not an option.