I agree in principle the momentum will propel FnF higher in early Augest. But still, it's the C-ship status. Realistically speaking, we don't really need a definitive answer, just one step at a time to change the C-ship agreement to allow paying down the bailout $$ (details are up for debate). That move alone will give Treasury/Congress less execuse to claim FnF still own taxpayers $188B. More interestingly, I'd be interested to see how MF response to such a move.
Unlike most here, you understand the steps involved for Fannie to exit conservatorship. This "dividend" deal is just wrong. It will not withstand a legal challenge but for some reason Demarco has not moved in that direction. I hope he was waiting on the next quarters financials to put him on firmer ground before trying to get it abolished, allowing Fannie to repay the treasury and begin to recapitalize