GSE Privatization Calculator

Fannie Mae & Freddie Mac Scenario Modeler

Model different privatization and recapitalization outcomes for your GSE preferred share portfolio. Enter your holdings, choose a scenario, and see projected returns including back dividends.

1Your Holdings

Add your GSE preferred share positions. Prices are approximate and editable.

Ticker

FNMAS$25 par / 8.25%

Current Price ($)

2Choose a Scenario

Select a privatization/recapitalization outcome to model.

All preferred shares restored to full par value. Dividends resume at the original coupon rate.

3Projected Outcomes

Results under the Full Par Recovery scenario. Back dividends calculated over 14 years of missed payments (2012-2025).

Ticker	Shares	Current	Projected/sh	Gain/Loss	Back Divs	Total Return
FNMAS$25 par	100	$650.00	$25.00	$1,850.00+284.6%	$2,887.50	$5,387.50+728.8%

Current Value

$650.00

Projected Value

$2,500.00

Back Dividends

$2,887.50

Total Return

$5,387.50+728.8%

Visual Comparison

Current Value$650.00

Projected (Par)$2,500.00

+ Back Dividends$5,387.50

Important Disclaimers

This is a hypothetical calculator for educational purposes only. It is not financial advice.
Past performance does not guarantee future results.
Actual outcomes depend on FHFA, Treasury, and Congressional action.
Back dividends are calculated based on the original coupon rate and par value for 14 years. Whether cumulative dividends are actually owed or paid depends on the terms of each series and any settlement or restructuring agreement.
Market prices shown are approximate. Always verify current prices with your broker before making investment decisions.

How This Calculator Works

Par value is the face value of each preferred share ($25 or $50 depending on the series).
Recovery % is what percentage of par value shareholders receive in a given scenario.
Back dividends are calculated as the coupon rate times par value times the number of years dividends were suspended (2012-2025).
Total return combines the recovered par value plus any back dividends owed.

Key Assumptions

Back dividends assume all series are cumulative and that all missed dividends are paid. In practice, this depends on the specific series terms and any settlement agreement.
The Conversion to Common scenario assumes preferred shares are exchanged for common stock worth 80% of par value.
Tax implications, transaction costs, and time value of money are not included.
This calculator is for educational and modeling purposes only. It is not a prediction of any specific outcome.

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Fanniegate Timeline How to Invest in Fannie Mae Privatization Timeline Preferred Stock Guide Current Positions

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