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Saturday, November 18, 2023 10:10:22 AM
Kthomp has explained this before. And I think this explanation is correct.
Although HERA restricts distribution of capital during conservatorship, that restriction is dependent on capital classifications. But shortly after the conservatorship was announced, the Director suspended capital classifications. And the suspension remains in place.
https://www.fhfa.gov/SupervisionRegulation/FannieMaeandFreddieMac/Pages/Capital-Requirements.aspx
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