Fannie Mae-No Politics (FNMA)

[Wise Man]

The SPS aren't in Separate Account, plaintiff Joshua Angel.
The Separate Account is where the capital distributions under the guise of cash dividend payments have been deposited for the redemption of the SPS (a capital distribution #2, but it has an exception in the Restriction on Capital Distributions, U.S. Code §4614(e)) similar to the SEPARATE ACCOUNT FOR THE PAYMENT OF PRINCIPAL OF THE REFCORP OBLIGATION statutory provision in the 1989 bailout of the FHLBanks (Source)
A provision inserted in the FHEFSSA in this Chapter of HERA:


All the Preferred Stocks are redeemable at the option of the issuer by definition, and the repayment of the taxpayer's assistance is another Prompt Corrective Action, that is, first thing to do in layman's terms.

And then, once they were fully redeemed, FHFA's DeMarco had already enacted "the supplemental" in July 20, 2011, to use this separate account for the recapitalization with the same trick of using the exceptions in the plan of deception (CFR 1237.12).
This amount ($110B SPS overpayment) that aims "to meet the minimum capital level and Risk-based capital requirement" (Exception 1 in the Restriction on Capital Distributions. Also 2, 3 and 4 as it "(c) supplements and shall not replace or affect the one by statute" posted before that is meant for the recapitalization too) along with the PLMBS settlement and the illegal CRT expenses, net (Charter-unauthorized in the Credit Enhancement clause), are assumed that have been reinvested in "zero coupon Treasuries" like the FHLBanks did, and this is why we are requesting interest payments on the $152B owed to FnF. This amount due is netted out with the cumulative dividend on SPS that FnF owe to the Treasury (estimated at a weighted-average 1.8% rate) in its 5- and 6-year investments in Freddie Mac and Fannie Mae, respectively.

The hedge fund manager Donald Trump's plan with the 3rd phase, currently in place, is about the SPS LP increased for free considered a joke. Another capital distribution restricted (#1), they were never meant to stay, with the evidence that they are already missing on the Balance Sheets (Financial Statement fraud though).
Only the layman plaintiff Joshua Angel would say that it's in a SEPARATE ACCOUNT precisely the only thing that it's not: the gifted SPS. They are illegally absent from the balance sheet, so that Bill Ackman and ST in congress, can repeat the lie: "FnF continue to build capital through retained earnings".
Sandra Thompson in charge of Financial Analysis since she arrived at the FHFA in March 2013 as Deputy Director.

Also, Regulatory Policy: Critical Capital level absent from the ERCF.
Capital Policy: Adjusted $402B core capital shortfall over minimum Leverage capital requirement. A Separate Account behind. She is now obsessed in attempting to pass the Net Worth off as the capital that has to meet the capital requirements, as seen in her written testimony to the Senate one month ago. Also, as seen with how FnF calculate the capital metrics beginning with the Net Worth and subtracting the SPS, instead of the sum of their components, attempting to conceal also the Accumulated Deficit Retained Earnings account deep red (Also in her job in charge of Financial Analysis).

We don't need more laymen playing the fool and wearing diapers in this board. The Diapers Gang says that the SPS will "diaper", which is "disappear" in layman's terms.