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Sunday, March 03, 2024 10:47:47 AM
The settlement worth $25.5B of the PLMBS lawsuit against 18 financial institutions (a $200B+ PLMBS portfolio sold to FnF with fraudulent information), brought by the conservator on behalf of FnF, has NOT been recorded as income.
It's held in escrow and thus, another evidence of a Separate Account plan.
The FHFA owes it to FnF, less $500 million in attorney fees.
I say:
IF YOU ARE SURE THAT THIS HAS NOT BEEN RECORDED AS INCOME AND HELD IN ESCROW THEN WE ARE FULLY CAPITALIZED AND ABLE TO EXIT CINSERVATORSHIP AT ANY MOMENT IN TIME?
This confirms the Separate Account Plan.
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