Fannie Mae-No Politics (FNMA)

[DaJester]

"I highly doubt the lawyers who drafted the original SPSPAs would have included a commitment fee on the funding commitment if it were so obviously illegal."

In that case, why hasn't the commitment fee ever been decided or implemented? Would have been a heck of a lot easier to make the backstop official, charge the fee and move on years ago. The whole purpose of the SPS dividends is to circumvent the restriction on fees. Make it look like something else, so it can't be challenged as a fee. I'm not going to post a link to the Charter Act, I'm sure you are familiar enough to know better.

"I trust their judgment far more than the armchair lawyers on this board."

Ha! Does that include yourself? Or you are just above everyone else. LOL!!!