SPS = Senior Preferred Shares. In 2008, when government bailed out corporations, it issued itself SPS for every $ of the bailout. Other recipients were able to reduce the SPS by repaying the government. In case of Fannie and Freddie, the entire $301 billion paid by them was booked as dividends by the Mafia agreement between FHFA and Treasury. According to them, SPS stands at $193 billion. A jury ruled that this is illegal.
FNMFO is a Fannie Mae Preferred share with a face value of $100,000.
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