Fannie Mae-No Politics (FNMA)

[Wise Man]

Mnuchin didn't say that but the opposite: FnF still owe the SPS LP outstanding.

Confirmed by Mnuchin and others who worked at the Treasury.

It isn't the first time that you try to change history.
You are referring to the MS and BLK alumni Craig Phillips, in charge of FnF as counselor for the Treasury Department, despite being sued by the FHFA for selling mortgages to FnF with fraudulent information (Source). Mainly because the first version of your post said "Mnuchin and Craig Phillips".
The Pagliara's boy, Guido, was ordered to remove Craig Phillips, who has been praised a thousand times before by Bradford, by the way.
Likely, Craig Phillips is the mastermind of the CRTs to extort money from FnF, regardless that the Treasury might be the beneficiary of the funds, following Mnuchin's slogan "the taxpayer be appropriately compensated", referring to a different Charter, because in this one in force, it's barred in the Fee Limitation of the United States.
Craig Phillps attended the second annual Credit Risk Transfer Symposium along with Blackrock.



The reason of Guido's post, is because Craig Phillips said that the taxpayer had been paid back at the time that the regiment of social media shills being used by the banks and renowned hedge fund managers spread the idea of having sent to Treasury the principal of the debenture plus 10% dividend (something pitched nowadays by another member, the plaintiff Bryndon Fisher in his cattle market-style negotiation), notwithstanding that dividends are restricted and there were none Earnings available for distribution as dividend, with Accumulated Deficit Retained Earnings accounts; along with concealing the original rates on any obligation purchased by the UST, including the SPS, for its cumulative dividend rate (estimated weighted-average 1.8% dividend rate, with a 0.5% spread over Treasuries).
In the end, that the exception to the statutory Restriction on Capital Distributions had repaid the SPS in full (December 2013/2014, resp.) with the assessments sent to the UST in the form of capital distributions, and the spare amount ($110B) was meant to continue the Recapitalization with an additional exception that supplements the one by law: CFR 1237.12 (July 20, 2011).
The same occurs today with another capital distribution restricted: gifted SPS LP every quarter, aiming to hold the Common Equity in escrow (Recap. Effect missing when this SPS LP and its offset, are absent from their Balance Sheets. Financial Statement fraud), until it's unwound.

What is known as the Separate Account. The FHFA-C's Incidental Power in full swing: "Zing!".

Wait! There is more!
Because four months after being abruptly fired, Craig Phillips gave an interview to pitch the plotters' ideas, contending that the JPS should be converted to common stocks and the Treasury should exercise the Warrant.


Phillips showed us his true face, because this is precisely what Guido's boss, Tim Pagliara, has repeated numerous times:




A conversion JPS to Common Stock was pitched by Guido himself, after insulting his boss Pagliara as part of the show, here.

Pagliara, who might own $FNMFO with anti-dilution feature, this is why proposes to throw in some warrants to the common shareholders, is also in favor of exercising the Warrant.


Notice the "Let's be creative" for exercising the Warrant in the next tweet. The same creativity for the CRT with Mel Watt's "responsible innovation", and then, Maxine Waters recently with "safe innovation", might have been making a reference to the Bitcoin scam. I see a pattern here.

Thank your Director Thompson for taking the time to come to Tennessee and listen. You have heard the rationale for funding to increase supply and affordability. Lets be creative and monetize the GSE warrants to help with workforce housing. https://t.co/5dxoVIjsyu

— Tim Pagliara (@timpagliara) October 20, 2023

The Warrant is being used as bargaining power. This is why they don't want to challenge it despite the damage on EPS since day one (EPS on a diluted basis, per SEC rules), until it's exercised, when the damage would be impossible to recover. Guido:

if ever taken to court after execution

Let's not forget that Guido introduced me to Pagliara through a DM on Twitter, that ended up very ugly when I laid out my view against the Warrant. At the time, he was running the phony Association of Shareholders "IU" to trick more shareholders into favoring the hedge funds' cause: "Equity restructuring".
The evidence of a conspiracy before conservatorship began.