Fannie Mae-No Politics (FNMA)

[Wise Man]

Navycmdr, with "just the facts", is a government snitch.
Because he advocates the current $118B Net Worth and balance sheet with $312.5 billion SPS LP outstanding.
A shill for the hedge funds JPS holders' diatribe that seeks a "restructuring a là Goldman Sachs", that is, with what Calabria said in his book about what Mnuchin said he wanted: the JPS are swapped for Cs with the same haircut as the SPS, when the balance sheet indicates that the JPS would be wiped out instead.
Navycmdr, part of the judicial front to peddle their case, conceals the reality of multiple violations of statutory provisions and also justice Alito and judge Willett's guidelines with "rehabilitate FnF"....the Marxist way (authorization of sale of NPL, RPL, REO inventory to Goldman Sachs and Co at a deep discount) and judge Willett with "any action within the enumerated powers".
The financial rehabilitation has only one meaning: "Put (restore) FnF in a sound and solvent condition" (the FHFA-C's power)
Today, FnF are in the worst financial condition ever. But the government shill under the orders of chamber investors, loves it:
-$312.5 billion SPS outstanding
-$-216 billion Retained Earnings accounts tasked with absorbing future losses. It needs to have positive balance for that and also to distribute earnings as dividend. So, no dividend was ever possible in the last 15 years.
-$-194 billion Core Capital. A $402 billion capital shortfall over Minimum Leverage capital requirement.
-The SPS LP is increased for free every quarter out of the blue, in an amount equal to the Net Worth increase. Berkowitz's attorney, David Thompson, even sought damages in the 5th circuit (Collins case), because the "for cause" removal restriction prevented this from happening sooner, selling the idea that this is a good deal for FnF that are being recapitalized and also it enrichs the government. The truth is that FnF are building SPS, not regulatory capital (concealed with financial statement fraud: gifted SPS and their offset -reduction of Retained Earnings- absent from the balance sheet), and this attorney and his client are just snake oil salesmen. They just need a government snitch posting happy emojis on the internet, and the chamber investors like Pagliara or Hindes in his disastrous letters that just change the headline, so he can write one every week. These are others that I recommend: "Nice and easy. Nice and easy." And "That's not good."
On the other hand, the reality of the Separate Account plan that upholds all the statutory provisions the corrupt litigants have covered up, and a plan that has already been carried out by the same people (ST at the FDIC since 1990 and DeMarco at GAO, the auditor) in the law entitled SEPARATE ACCOUNT commented yesterday in the post that proves it using the method PATTERN ANALYSIS.
You need financial knowledge in the first place, to carry out this analysis.

Under this plan, the CET1 would be 2.6% of the Adjusted Total Assets as of end of September, 2023, which means that FnF can redeem the JPS and then, they would comply with the threshold Tier 1 Capital > 2.5%.

Beware of these shills with the "everything is fine" and they never mention financial concepts, like their ERCF tables with huge capital deficits, other than $118 billion Net Worth without knowing what it means (It's owned by the Treasury, government shill. The JPS and Cs are wiped out in a restructuring)
Navycmdr writes a poem that no one can take seriously, peddling the same lies, like "Retained Earnings" and "shareholder relief" from the courts with all the frivolous lawsuits, attempting to conceal the fact of a Separate Account.