No. The other way around.
GSE's are not writing a check to the government anymore.
So, the USG is not loaning any money to the GSE's.
GSE's retain their earnings for re-capitalization.
The screwy part is that the USG adds the amounts to the liquidation preference.
USG can add the profits to the LP as saying these are missed dividend payments.
So, in case of a bankruptcy the USG is owed that amount.
However, this is done at the stroke of a pen and can be removed at the stroke of a pen.
USG is well overpaid on this investment.
Release is way overdue.
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