{
  "docId": "019dd923-622c-750b-8b9c-17ab97a15038",
  "docSlug": "97510b6ce9e5",
  "documentTitle": "Fannie Mae & Freddie Mac (FNMA / FMCC)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-01-16 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 22,
  "pageCount": 104,
  "prevPage": 21,
  "nextPage": 23,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 20,
  "notes": "Dual-axis charts showing LTV (bars) and FICO (lines) for both entities.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "bar_chart_vertical",
    "line_chart",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-17ab97a15038/22",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-17ab97a15038",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-17ab97a15038.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-17ab97a15038#slide-22",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.19
      },
      "kind": "callout",
      "text": "Fannie and Freddie guarantee the low-risk mortgages of middle-class borrowers with excellent credit",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "316dd425-9c0b-43c7-b12a-c5f6b2e14115",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.58,
        "w": 0.42,
        "x": 0.08,
        "y": 0.31
      },
      "kind": "chart",
      "text": "Fannie Single-Family Acquisitions",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "249beaf0-4388-403b-b73b-fa376656c124",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.58,
        "w": 0.42,
        "x": 0.51,
        "y": 0.31
      },
      "kind": "chart",
      "text": "Freddie Single-Family Acquisitions",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c9881d62-9b69-43f9-8014-53daa0b05c4a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Weighted Avg. Loan-to-Value Ratio: 78%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-203c-716b-be69-1e3cda061b72",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.15,
        "x": 0.04,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Company filings.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6f1168ed-1d23-4277-bfbd-384a217ee961",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.85,
        "x": 0.04,
        "y": 0.09
      },
      "kind": "title",
      "text": "Single-Family Guarantee Business: Low-Risk (Cont.)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1b33da74-265f-41ec-bcbf-a1eeb06d5440",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 30,
      "from": 17,
      "beatId": "129828e5-8f7b-4577-9e6d-0951c1bdb0c6",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Problem & Complication",
      "beatSlug": "consultants-gambit-problem-complication",
      "evidence": "Slides analyze the GSEs' financial crisis and conservatorship",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}