Replies to post #382233 on Fannie Mae-No Politics (FNMA)

[jeddiemack]

x

[jeddiemack]

Obi,

If you don't understand what I put forth. You don't understand amortization schedules and how simple interest works.

What I have presented is the factual draws and interest payments recast to reflect 5% on a quarterly basis -v the 10% and then NWS for the entirety of the relationship as stated in Cap's 491.

What you failed to do is apply the payments already made that would reduce the principal far faster than the schedule you put forth. In Home Lending, its just a prepayment. That you failed to reflect.



(3)Treatment of dividends paid
That any dividends paid by the enterprise to the Department of the Treasury under the Senior Preferred Stock Agreement before such modification of such Agreement shall be treated as payments of principal and interest due under the loan referred to in paragraph (2), and shall be credited against payments due under the terms of such loan (in accordance with the amortization schedule established for such loan pursuant to paragraph (2)(E)), first to such loan having the earliest origination date that has not yet been fully repaid until such loan is repaid, and then to the next such loan having the next earliest origination date until such loan is repaid.

This means applying payments previously made to interest first and then to principal. the effect is to re-amortize the existing extension of credit (as re characterized)

[tonruf]

Fannie Mae has already paid back the principal plus interest to Treasury.

[jeddiemack]

Fannie's Amort Schedule - recast

This shows payments made first to interest at 5% and then principal.

Old Old Old Old Old Old New New New New New
Date Rate Int Charged Draw Paid Bal Rate Int Recalc Draw Paid Bal
9/30/2008 10% - 0 0 - 5% - - 0 -
12/31/2008 10% 0.025 15.2 0.025 15.20 5% 0.013 15.20 0.025 15.19
3/31/2009 10% 0.025 19 0.025 34.20 5% 0.012 19.000 0.025 34.17
6/30/2009 10% 0.409 10.7 0.409 44.90 5% 0.204 10.70 0.409 44.67
9/30/2009 10% 0.885 15 0.885 59.90 5% 0.440 15.000 0.885 59.23
12/31/2009 10% 1.150 15.3 1.150 75.20 5% 0.569 15.30 1.150 73.94
3/31/2010 10% 1.527 8.4 1.527 83.60 5% 0.751 8.400 1.527 81.57
6/30/2010 10% 1.909 1.5 1.909 85.10 5% 0.931 1.50 1.909 82.09
9/30/2010 10% 2.117 2.5 2.117 87.60 5% 1.021 2.500 2.117 83.49
12/31/2010 10% 2.153 2.6 2.153 90.20 5% 1.026 2.60 2.153 84.97
3/31/2011 10% 2.216 8.5 2.216 98.70 5% 1.044 8.500 2.216 92.29
6/30/2011 10% 2.281 5.087 2.281 103.79 5% 1.066 5.09 2.281 96.17
9/30/2011 10% 2.495 7.791 2.495 111.58 5% 1.156 7.791 2.495 102.62
12/13/2011 10% 2.621 4.571 2.621 116.15 5% 1.205 4.57 2.621 105.77
3/31/2012 10% 2.819 - 2.819 116.15 5% 1.284 - 2.819 104.24
6/30/2012 10% 2.931 - 2.931 116.15 5% 1.315 - 2.931 102.62
9/30/2012 10% 2.929 - 2.929 116.15 5% 1.294 - 2.929 100.99
12/31/2012 10% 2.929 - 2.929 116.15 5% 1.273 - 2.929 99.33
3/31/2013 Sweep 4.224 - 4.224 116.15 5% 1.242 - 4.224 96.35
6/30/2013 na 59.368 - 59.368 116.15 5% 1.204 - 59.368 38.19
9/30/2013 na 10.243 - 10.243 116.15 5% 0.477 - 10.243 28.42
12/31/2013 na 8.617 - 8.617 116.15 5% 0.355 - 8.617 20.16
3/31/2014 na 7.192 - 7.192 116.15 5% 0.252 - 7.192 13.22
6/30/2014 na 5.692 - 5.692 116.15 5% 0.165 - 5.692 7.69
9/30/2014 na 3.712 - 3.712 116.15 5% 0.096 - 3.712 4.08
12/31/2014 na 3.999 - 3.999 116.15 5% 0.051 - 3.999 0.13
3/31/2015 na 1.920 - 1.920 116.15 5% 0.002 - 1.920 (1.79)
6/30/2015 na 1.796 - 1.796 116.15 5% (0.022) - 1.796 (3.61)
9/30/2015 na 4.359 - 4.359 116.15 5% (0.045) - 4.359 (8.01)
12/31/2015 na 2.202 - 2.202 116.15 5% (0.100) - 2.202 (10.31)
3/31/2016 na 2.859 - 2.859 116.15 5% (0.129) - 2.859 (13.30)
6/30/2016 na 0.919 - 0.919 116.15 5% (0.166) - 0.919 (14.39)
9/30/2016 na 2.869 - 2.869 116.15 5% (0.180) - 2.869 (17.44)
12/31/2016 na 2.976 - 2.976 116.15 5% (0.218) - 2.976 (20.63)



In the end they are owed $21B


Sure, its not by "year" and not by the last draw of the year, etc. but the spirit is the same.

Paid in full.