Fannie Mae-No Politics (FNMA)

[Wise Man]

A dividend is a capital distribution, 12 U.S.Code §4502(5)(A).
And thus, restricted in the 12 U.S. Code §4614(e).
Besides, a dividend is a distribution of earnings and it can't be paid, out of an Accumulated Deficit Retained Earnings account in the Balance Sheet ($-216 billion combined), that is a picture of a company at a determined date.
So, it was NOT an actual dividend by any stretch of the imagination, but a capital distribution under the guise of dividend payment, applied towards the exceptions to this restriction: to reduce the SPS and, later on, for recap (CFR1237.12)
The FHFA-C's Incidental Power allows it to mislead and mess around in the best interests of the Agency, while upholding its Rehab Power.
Read my posts and the law before replying.