Golf - if reports are to be believed, which I do believe the PSPA amendment is/was with the DOJ, all it takes is a nod.
Frankly, I'm surprised by all this negativity. It will happen, it is just a question of degree. I think the liquidation pref will be written down to a small amount at minimum and the NWS will be cancelled.
I also believe some type of signoff from FnF on any updates on the agreement going forward will be needed to essentially confirm a responsible exit from conservatorship happens when FnF have retained enough capital to go to the market for further capital raises.
Logoff for 13 days and you will be pleasantly surprised.