Fannie Mae-No Politics (FNMA)

[Wise Man]

FNMA's 0.65 Conversion Ratio to FMCC.
You would get 13 FMCC for every 20 FNMA you hold.
Based on the assumptions pointed out in the 2 tweets.
Also that both are fully reserved against expected losses (ALLL)

A Conversion ratio consistent with their different Deferred Income as of end of 2023:
Freddie Mac: $42B
Fannie Mae: $19B
Although, some people would say that it should be adjusted more.

Therefore, the FNMA holders should be very happy with this ratio.

FAIR VALUE/CONVERSION RATIO WITH PER FINE-TUNED
FNMA PER 10x =$173
FMCC PER 12x =$266
Stock price driver also the adjusted EPS (annualized 4Q):
$17.3
$22.1
If FnF were combined:$FNMA's 0.78 Conversion Ratio to $FMCC based on EPS.
0.65 adding the different PE multiple.#Fanniegate https://t.co/2r8TQ0JnOJ

— Conservatives against Trump (@CarlosVignote) February 27, 2024