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JOoa0ky

01/10/24 10:43 AM

#781488 RE: Donotunderstand #781470

Yes, NWS is set to resume once FnF reaches full retained capital.

However during capital retention, LP goes up dollar by dollar.

Once NWS resumes, LP will stop rising.

In other words, seniors need to be dealt with. Munckin set it up this way so that treasury/president/fhfa still holds all of the cards in their hand in case there is something that they want to do...