Fannie Mae (FNMA)

[Wise Man]

More about the Wall Street law firm representing the FHFA in court.
It's been denounced multiple times that it claimed in the Lamberth court that the dividends are "mandatory", according to Katie Buehler that attended the trial (watch her tweet below).
But we didn't have documentary evidence, until yesterday. Two different court briefs double down on the same flawed idea, with: "dividend obligation".
- The FHFA and the plaintiffs in the Lamberth court: Joint Statement of Undisputed Facts. Not only their "fact" is flawed, but also the cover-up of many other facts is why they are accused of Making False Statements.
-Fannie Mae, as stated in the deposition given by the former CEO and submitted to the Lamberth court as well.

Mandatory dividend doesn't exist. In the end, they want to turn the dividend payments into interest payments (An expense. Without restrictions).
They attempted to replicate the 1989 FHLBanks' bailout with assessments funneled into a Separate Account written by law ($300 million annually in interest payments on RefCorp obligations, assessed with a 0.299% spread over Treasuries -GAO report-, and the rest, invested in zero coupon Treasuries, that is, sent to UST like FnF have done).
Because FnF pay dividends on SPS (obligations in respect of Capital Stock. Source: SPSPA) and there were no earnings available for distribution as dividend, out of an Accumulated Deficit Retained Earnings accounts, and also, dividends are restricted when FnF are undercapitalized in the Restriction on Capital Distributions, the entire assessments were applied towards the exceptions to the aforementioned restriction in order to legalize them:
-To reduce the SPS, U.S. Code §4614(e).
-For their recapitalization, CFR 1237.12.
When they were aware of this outcome, they began the plan of deception: "Mandatory dividends"; "dividend obligation"; Howard: "SPS, non-repayable securities", etc.

(*)The cumulative dividend rate on SPS was assessed at 1.8%, with a 0.5% spread over Treasuries.

DIVS AREN'T INTEREST PAYMENTS
-Wall St law firm representing @FHFA:"Mandatory divs"
🆕-Joint Stmt of Facts & FNMA:"Div obligation"

1-Div, a distribution of earnings. Unavailable(Acc Deficit Retained Earnings acct)
2-Restriction on Capital Distribution.#Fanniegate @TheJusticeDept https://t.co/APWhh2JNo2 pic.twitter.com/cK8G2RyAnx

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