GZ, remember how long it will take to get a SCOTUS verdict and you do not know what remedy, if any, it might bring. Remember also that the next administration may not be GSE-friendly -- creatures like Parrot are lurking around the Biden campaign and what would Warren do for shareholders?
I think GSE plaintiffs, and holders, will take what the Trump RnR process can give them, and accept a settlement on the right terms.
But what we might have going on right now is Treasury/FHFA saying take these terms or what President Warrent will give you? And the plaintiffs saying give us these terms or we go to Judge Atlas, SCOTUS, Judge Lamberth and the Bhatti court... So, they are each negotiating
I expect we see AT LEAST (i) NWS stopped, (ii) senior preffered paid down and (iii) tax credit for remaining overpayment (since that is what we can expect from Judge Atlas in summary judgement on Collins -- BUT what else the settlement will include is what I am guessing they are fighting over... That might include conditions on eventual RnR for instance...
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