Replies to post #363799 on Fannie Mae-No Politics (FNMA)

[argos7]

I don't disagree. I would point out that the core single family business remains flat - I would be more concerned if this was also displaying volatility.

The 2013 tax benefit is the DTA booking and has no bearing on the pretax results - other than creating excess debt to fund the NWS to treasury. LOL

I don't spend a ton of time looking at the net income line, but rather pretax income (and, if necessary, adjusting for derivative mark to market and cash taxes paid). I am frankly more focused on the long-term ability to generate cash to fund its business model, build capital and one day make common and preferred distributions in a post conservatorship world.