Sunday, November 19, 2023 8:04:04 AM
This is evidence of a Separate Account plan, because it simply relieves the FHFA of having to change the Capital Classification all along, first from Critically Undercapitalized to Significantly Undercapitalized, then to Undercapitalized and finally, Adequately Capitalized.
Therefore, the Separate Account plan is kept secret.
We can read below that it was done "in the best interests of the market", which is an addition it made up, to the "in the best interests of FnF or the Agency" set forth in the conservator's Incidental Power.
This is because the Conservatorship is being used to grant good deals to the investment banks and hedge funds, in the sale of NPL, RPL and REO inventory.
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