Fannie Mae-No Politics (FNMA)

[Wise Man]

A downgrade of outlook in the U.S. debt rating bodes well for the scenario of Charter revoked, as it's what intertwines the Treasury yields with the cost of funding in FnF: the so called UST backup of FnF at rates similar to Treasuries "as of the end of the month preceding the purchase" (Subsection (c))
Having FnF well capitalized Basel framework and with a guarantee fee that reflects its risk, allows them to be detached of the Treasury department, as the soundness is always what drives the cost of funding and the Charter's UST backup is only suitable upon lack thereof.
Thank goodness the conservator had the clear mandate to put FnF in a sound and solvent condition. 15 years in the making.