First things first. The Conservatorship is run by the Treasury through the terms of the SPSPA. So FHFA is not acting alone. They only serve as a rubber stamp for what the Office of the President wants in any given year. There is no real independence of the conservator. By agreeing to the terms dictated by Treasury, FHFA acting on behalf of the GSEs as the conservator has breached the contractual rights of the shareholders in the first instance. This breach cannot be fixed without nullifying the SPSPA. The original agreement violates the Charter Act by imposing an illegal fee or charge in the form of the commitment fee that is the LP at 10% of drawn commitment up to $100 billion, warrants, and the periodic commitment fees. The 2nd amendment doubled the commitment to $200 billion (dta fraud) but dropped the periodic commitment fee. The 3rd amendment gave us the NWS, and the 4th amendment gave us the stealth NWS in the form of increasing the LP for free. This is why there is the delay in the Jury verdict. The initial 10%, NWS, 4th amendment LP increase for free are all manifestations of a breach of good faith and fair dealings at common contract law. Moving foreword, every quarter that the LP and warrants remain will create a new breach of contract. It is not hard to figure out. The Gov has acknowledged this by not appealing the jury verdict. Bottom line, the Conservatorship of the GSEs controlled by the SPSPA is over. Expect a termination letter ending the SPSPA with some language tooting the horn of the Bidenomics and how they singlehandedly solved the housing industry. How the GSEs under Biden are now stronger and healthier than ever, How the tax payers were payed back, How their will be homes for everyone with the new and improved privately shareholder owned GSEs trading on the NYSE by end of 2024. Do not underestimate the value of political capital. They are willing to spend trillions for it. Giving up a few hundred billion for it is a no brainer.
