Fannie Mae thinks 2024 will be a good year. 2023? Maybe not.

Recently, Fanron wrote down 21 billion in deferred tax assets.

But what does that mean?

Investopedia says:

Deferred tax assets can arise due to net loss carryovers, which are only recorded as assets if it is deemed more likely than not that the asset will be used in future fiscal periods.
It must be determined that there is more than a 50% probability that the company will have positive accounting income in the next fiscal period before the deferred tax asset can be applied.

So it follows that Fanron wrote down 21 billion in deferred tax assets because they determined that there is more than a 50% probability that they will not have positive accounting income in the next 'future fiscal periods'.

But what are the next ' future fiscal periods'?

Running this google search

http://www.google.com/search?hl=en&q=net+operating+income+15+years+net+operating+losses&start=10&sa=N

would appear to confirm that the next 'future fiscal periods' is 15 years.

So it would appear that Fanron is saying that there is more than a 50% probability that they will not have positive accounting income prior to 2024.