FNMFO - Fannie And Freddie: Supreme Court Upgrades Some Plaintiff Legal Claims

• Now that the Biden administration has complete control over Fannie Mae and Freddie Mac, they have begun to implement reforms starting with the elimination of the adverse market fee.
• The focus of the stock market and many existing shareholders has been on what we lost instead of what we won at the Supreme Court.
• The Biden administration has not yet restarted the net worth sweep and as such the base case for this being an equity restructuring recapitalization and release is still alive.
• We are now seeing some very positive updates on the lawsuits further interpreting the Supreme Court's ruling on Collins v. Yellen in favor of the other legal claims.

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