Replies to post #588414 on Fannie Mae-No Politics (FNMA)

[Doc.007]

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[bcde]

"JPS are equity"

The meaning of equity is ownership in the company.

JPS do not have any ownership or voting rights in the company.

JPS are considered equity for the purpose capital only. It is just because of non-cumulative dividends.

JPS are basically fixed interest bonds but lower in preference to debt holders.