Fannie Mae Preferred S (FNMAS)

[44centsAKAchoccake]

This is part of the process of becoming "small enough to fail." The private-label trash of the 2004-2008 period is a thing one of the past. This approach would help to create a competitively neutral platform that FnF and others could use to securitize mortgages.

http://www.housingwire.com/news/2013/04/18/demarco-single-securitization-platform-benefit-community-banks

This is consistent with something I've been talking about for the last 18 months or so.