Replies to post #198659 on Fannie Mae-No Politics (FNMA)

[obiterdictum]

Here are the numbers andydub.

The first set represents dividends actually paid until March 31, 2014. All of those monies were earned by December 31, 2013 and then the latest was paid forward per payment pattern for 2014Q1.

The second set represents a hypothetical set of dividends without the net worth sweep. Just 10% dividends on an unredeemable $189.4 billion liquidation preference.

 
 Actual Dividends Paid at 10% and Net Worth Sweep Beginning 1/01/2013 (in billions) 
  
 Quarter Paid       Fannie Mae           Freddie Mac 
 2008   Q3	$0.01 	n/a		$0.01	N/A 
 2008	Q4	$0.03 	12/31/08	$0.17	12/31/08 
 2009	Q1	$0.03 	3/31/09		$0.37	3/31/09 
 2009	Q2	$0.41 	6/30/09		$1.15	6/30/09 
 2009	Q3	$0.89 	9/30/09		$1.29	9/30/09 
 2009	Q4	$1.15 	12/31/09	$1.29	12/31/09 
 2010	Q1	$1.53 	3/31/10		$1.29	3/31/10 
 2010	Q2	$1.91 	6/30/10	        $1.29	6/30/10 
 2010	Q3	$2.12 	9/30/10		$1.56	9/30/10 
 2010	Q4	$2.15 	12/31/10	$1.60	12/31/10 
 2011	Q1	$2.22 	3/31/11		$1.61	3/31/11 
 2011	Q2	$2.28 	6/30/11		$1.62	6/30/11 
 2011	Q3	$2.50 	9/30/11		$1.62	9/30/11 
 2011	Q4	$2.62 	12/30/11	$1.66	12/30/11 
 2012	Q1	$2.82 	3/30/12		$1.81	3/30/12 
 2012	Q2	$2.93 	6/29/12		$1.81	6/29/12 
 2012	Q3	$2.93 	9/28/12		$1.81	9/28/2012 
 2012	Q4	$2.93 	12/31/12	$1.81	12/31/12 
 2013	Q1	$4.20 	3/29/13		$5.83	3/29/13 
 2013	Q2	$59.40 	6/28/13		$6.97	6/28/13 
 2013	Q3	$10.20 	9/20/13		$4.40	9/20/13 
 2013	Q4	$8.62 	12/31/13	$30.40	12/31/13 
 2014	Q1	$7.20 			$10.40	 
 		$121.08 		$81.77 	 
 ________________________________________________________ 
  
 Actual Dividends Paid at 10% until 12/31/2012 and Hypothetical Dividends at 
 10% without change in Third Amendment so that the $189.4 billion liquidation  
 preference remain unredeemed. (in billions)  
  
 Quarter Paid       Fannie Mae           Freddie Mac						 
 2008	Q3	$0.01 	n/a		$0.01	N/A 
 2008	Q4	$0.03 	12/31/08	$0.17	12/31/08 
 2009	Q1	$0.03 	3/31/09		$0.37	3/31/09 
 2009	Q2	$0.41 	6/30/09		$1.15	6/30/09 
 2009	Q3	$0.89 	9/30/09		$1.29	9/30/09 
 2009	Q4	$1.15 	12/31/09	$1.29	12/31/09 
 2010	Q1	$1.53 	3/31/10		$1.29	3/31/10 
 2010	Q2	$1.91 	6/30/10		$1.29	6/30/10 
 2010	Q3	$2.12 	9/30/10		$1.56	9/30/10 
 2010	Q4	$2.15 	12/31/10	$1.60	12/31/10 
 2011	Q1	$2.22 	3/31/11		$1.61	3/31/11 
 2011	Q2	$2.28 	6/30/11		$1.62	6/30/11 
 2011	Q3	$2.50 	9/30/11		$1.62	9/30/11 
 2011	Q4	$2.62 	12/30/11	$1.66	12/30/11 
 2012	Q1	$2.82 	3/30/12		$1.81	3/30/12 
 2012	Q2	$2.93 	6/29/12		$1.81	6/29/12 
 2012	Q3	$2.93 	9/28/12		$1.81	9/28/2012 
 2012	Q4	$2.93 	12/31/12	$1.81	12/31/12 
 2013	Q1	$2.93 	3/29/13		$1.81	3/29/13 
 2013	Q2	$2.93 	6/28/13		$1.81	6/28/13 
 2013	Q3	$2.93 	9/20/13		$1.81	9/20/13 
 2013	Q4	$2.93 	12/31/13	$1.81	12/31/13 
 2014	Q1	$2.93 			$1.81	 
 		$46.11 		        $32.82 	

Source: Data taken from the following:
Fannie Mae’s and Freddie Mac’s Financial Status: Frequently Asked Questions
http://www.fas.org/sgp/crs/misc/R42760.pdf

Fannie Mae Form 10-Q 3rd Quarter
http://www.fanniemae.com/resources/file/ir/pdf/quarterly-annual-results/2013/q32013.pdf

Fannie Mae Form 10-K 2013
http://www.fanniemae.com/resources/file/ir/pdf/quarterly-annual-results/2013/10k_2013.pdf

Freddie Mac Form 10-Q 3rd Quarter
http://www.freddiemac.com/investors/er/pdf/10q_3q13.pdf

Freddie Mac Form 10-K 2013
http://www.freddiemac.com/investors/er/pdf/10k_022714.pdf