|
In the News |
|
| Thursday August 17th 2017 | |
| New filing in the Fairholme case.
Peter Chapman writes, "Under
seal, our government filed its response (Doc. 386) to Fairholme's
second motion to compel this afternoon. A redacted copy should be filed
in the coming days or weeks." | |
| "It seems like they can stay in that holding pattern for the foreseeable future," Kashkari says...via @josephlawler - Twitter | |
| Freddie Mac names Stacey Goodman chief information officer - HousingWire | |
| Pershing H1: Recent DC Action On Fannie Not Priced Into Shares - ValueWalk | |
|
| |
| Wednesday August 16th 2017 | |
| Taking Over Fannie And Freddie: Perjury Or Bust? - Seeking Alpha by Glen Bradford | |
| Shareholders Press Government to Stop Postponing the Inevitable - Investors Unite | |
| Pershing Square 2Q Conference Call - webcaster4.com
GSE comments start at 48:42. | |
| Frannie gets boost from Ackman comments - Seeking Alpha | |
| Fannie, Freddie Earnings Could Hit $10 Billion in 3Q17 Thanks to RBS Settlement - Inside Mortgage Finance | |
| Fannie, Freddie continue efforts to reduce mortgage portfolio - mpamag.com | |
|
| |
| Tuesday August 15th 2017 | |
| Fannie Mae Prices $1.069 Billion Connecticut Avenue Securities Risk Sharing Deal - Business Insider | |
| Short Takes: What REITs and Fannie & Freddie Have in Common... - Inside Mortgage Finance | |
| No Need For GSE Reform? - American Action Forum | |
|
| |
| Monday August 14th 2017 | |
| New filing in the Fairholme case, click here to view.
Peter
Chapman writes, "A redacted version of Fairholme's second motion to
compel (to allow the lawyers to see about 1,500 documents the
government continues to withhold) is (linked above) and the Appendix to
Fairholme's request is posted at http://bankrupt.com/misc/13-465-0385-Appendix.pdf" | |
| More Government Contradictions, Questions and Secrecy - Investors Unite | |
| Three New Documents Unsealed - fanniefreddiesecrets.org
Click on 'Unsealed Documents - August 10, 2017' | |
| KBW Weighs in on GSE Earnings, PSPA Lawsuits, Says Stocks are Worth $1 Each - Inside Mortgage Finance | |
| Fannie and Freddie are quietly unloading more mortgage risk to bondholders - The Real Deal | |
| Investors Take On Mortgage Risk From Fannie Mae, Freddie Mac - WSJ
Subscription required for access. | |
| Fannie and Freddie face the moment of truth on their taxpayer bailouts - The Hill | |
| Regulatory Reboot: Tax Reform, Finance Top Industry’s Policy Agenda - cpexecutive.com
“The
existing multifamily programs at Fannie and Freddie, which performed
well through the crisis and already involve meaningful risk-sharing
with the private sector, should be preserved in some form as options in
a future system,” noted the committee’s chairman, Sen. Mike Crapo
(R-Idaho). | |
|
| |
| Friday August 11th 2017 | |
| New filing in the Piszel case, click here to view.
Peter
Chapman writes, "Our government filed its brief opposing Mr. Piszel's
petition for a writ of certiorari yesterday. Our government urges the
High Court to reject Mr. Pizel's petition; rubber stamp FHFA's
directive to Freddie Mac to repudiate Mr. Pizel's employment contract
and pay him nothing; and tell Mr. Piszel he shouldn't have relied on
the terms of his employment agreement because he accepted employment in
a highly regulated industry." | |
| How to fix Fannie and Freddie to give Americans affordable housing - The Hill | |
| Federal Stress Tests Make Compelling Argument To End Fannie And Freddie Net Worth Sweep - Infowars | |
| MBA President Stevens defends need for multiple guarantors in GSE reform - HousingWire | |
|
| |
| Thursday August 10th 2017 | |
| Mel Watt's Letter to the NAR via @joelight - Twitter | |
| FHFA Chief Concerned about GSE Zero Capital Buffer, but Doesn’t Want to Promote ‘Recap and Release’ - Inside Mortgage Finance | |
| Fannie Mae begins marketing fourth re-performing loan sale - HousingWire | |
| Paulson Tries Going Back To Basics But Losses Mount - ValueWalk | |
|
| |
| Wednesday August 9th 2017 | |
| Fannie and Freddie will stick with FICO formula for at least two more years - The Washington Post | |
| HUD: Enough is Enough - DS News
"Carson
added that by pursuing housing finance reform, the Trump administration
seeks to 'unwind the federal government’s role in the private mortgage
market and ease the stress on rental markets.'" | |
| Debt limit debate complicated by Fannie, Freddie dividends - American Banker
Subscription required for full access. | |
|
| |
| Tuesday August 8th 2017 | |
| New filing in the Roberts case, click here to view.
Peter
Chapman writes, "FHFA filed its brief in the Seventh Circuit yesterday
evening containing its familiar arguments, and a copy is (linked
above)." | |
| More Questions than Answers about Conservatorship Capital Framework - Investors Unite | |
| Fannie and Freddie to US: Hey, if things don’t work out can I have $100B? - The Real Deal | |
| In Stress Test Case, GSEs Would Need Another $100 Billion - Mortgage News Daily | |
| Wizarding Ways - Don't Go There - Seeking Alpha | |
|
| |
| Monday August 7th 2017 | |
| New filing in the Roberts case, click here to view.
Peter
Chapman writes, "Treasury filed its brief in the Seventh Circuit today,
recycling what it's argued in other cases, and a copy is (linked
above)." | |
| FHFA Announces Results of Fannie Mae and Freddie Mac Dodd-Frank Act Stress Tests - fhfa.gov | |
| Fannie and Freddie could need $100 billion bailout in next crisis, stress test finds - MarketWatch | |
| Fannie-Freddie Might Need $100 Billion in New Crisis, FHFA Says - Bloomberg | |
| Fannie, Freddie would need up to $100 billion from Treasury in a crisis - Washington Examiner | |
| GSE Capital Put to the Test - DS News | |
| Stress tests results are out for Fannie Mae and Freddie Mac - Seeking Alpha | |
| Fannie, Freddie Dividend Policy Implications via @GSEobserver - Twitter | |
| Fairholme Predicts Trump’s DOJ Will See (GSE) Things Its Way - Inside Mortgage Finance | |
| It starts with rental housing: 3 key considerations for housing finance reform - HousingWire | |
| Blog: Doubts raised over GSE dividend payments - Scotsman Guide | |
|
| |
| Sunday August 6th 2017 | |
| Are credit risk transfers fatally flawed? - Fiderer on GSEs | |
|
| |
| Friday August 4th 2017 | |
| New filing in the Sammons (W.D. Texas) case, click here to view.
Peter
Chapman writes, "Mr. Sammons is asking for a rehearing before the Fifth
Circuit, and a copy of his petition is (linked above)." | |
| New filing in the Bhatti case, click here to view.
Peter Chapman writes, "The
Bhatti Plaintiffs delivered their Amended [and condensed] Complaint to
the to the U.S. District Court for the District of Minnesota today, and
a copy of that document is (linked above)." | |
| Fannie & Freddie Both Changed The Way They Talk About Their Dividends, And It's Not By Accident - benzinga | |
| What We’re Hearing: The Clock is Ticking / Ivanka Trump, the GSEs, Mary Bailey and the Debt Ceiling... - Inside Mortgage Finance | |
| One part of GSE reform is already working - American Banker | |
| Fannie and Freddie Echo FHFA's Conservatorship Concerns - Mortgage News Daily | |
| Housing-finance system doesn't need big fix - Scotsman Guide | |
| Fairholme Funds Semi-Annual Report 2017 - fairholmefundsinc.com | |
|
| |
| Thursday August 3rd 2017 | |
| New update in the Fairholme case.
Peter
Chapman writes, "Discovery isn't over in Fairholme v. U.S. Under seal,
Fairholme filed a second motion to compel this afternoon in order for
its lawyers and other parties to Judge Sweeney's protective order to
obtain access to documents the government continues to claim are
privileged. A redacted copy of today's filing (Doc. 384) should be
filed in the coming days or weeks." | |
| Fannie
Mae Reports Net Income of $3.2 billion and Comprehensive Income of $3.1
billion for Second Quarter 2017 - fanniemae.com | |
| Congress wouldn’t do it, so Fannie and Freddie reformed themselves - MarketWatch | |
| Fannie Mae posts $3.2B profit in 2Q; to pay $3.1B dividend - ABC News | |
| Fannie
Mae Posts Strong 2Q Profit, Will Pay Treasury $3.1B ‘If FHFA Declares a
Dividend in This Amount’ - Inside Mortgage Finance | |
| Fannie Mae earns $3.1B in Q2 - slated for Treasury - Seeking Alpha | |
| Short Takes: By September 30, the FHFA will Change the GSE Dividend Payment?... - Inside Mortgage Finance | |
| Here are the FNMA 10-Q changes from Q1 to Q2...via @wking333 - Twitter | |
| ICBA Statement on Second Quarter 2017 GSE Earnings - icba.org | |
| Freddie Mac to Initiate New Single Security-Related Investor Disclosures - MarketWatch | |
| Conflicting Views on Need for New Credit Scoring Models - Mortgage News Daily | |
| BlackRock document refutes Hank Paulson's story about GSE capital - Fiderer on GSEs | |
|
| |
| Wednesday August 2nd 2017 | |
| The Fannie Freddie Document Treasure Trove - Forbes
By Richard Epstein | |
| The abuse of Freddie and Fannie Mae - The Washington Times | |
| FHFA Director Mel Watt Rules Out G-Fee Cut - Inside Mortgage Finance | |
| Short Takes: Freddie Moves Closer to SFR Financing / Room for GSE Legislation to Get Done?... - Inside Mortgage Finance | |
| Senate to consider bill to end “FICO monopoly” at Fannie Mae and Freddie Mac - HousingWire | |
| Another taxpayer bailout looming - cincinnati.com | |
|
| |
| Tuesday August 1st 2017 | |
| Freddie Mac Reports Net Income of $1.7 Billion and Comprehensive Income of $2.0 Billion for Second Quarter 2017 - freddiemac.com | |
| Freddie Mac Says It Will Pay $2 Billion to Taxpayers -- Maybe - Bloomberg | |
| Freddie Mac posts $1.7B net income in Q2; pays $2B dividend - ABC News | |
| A
25 Percent Earnings Decline for Freddie Mac; ‘Account Surplus’ with
Uncle Sam will Swell to Almost $39 Billion - Inside Mortgage Finance | |
| Short
Takes: Freddie’s CEO Comments on Declining Capital Buffer / This is Not
Your Parent’s Freddie Mac... - Inside Mortgage Finance | |
| The days of Freddie Mac just quietly remitting xxx to Treasury are over...via @ARiquier - Twitter | |
| Freddie Mac's (FMCC) CEO Don Layton on Q2 2017 Results - Earnings Call Transcript - Seeking Alpha | |
| Announced today?: #GSE "risk management and business decisions during conservatorship" CCF initiative via @presvnconsv - Twitter | |
| @wking333 highlights language changes in Freddie Mac's 10-Q - Twitter | |
| Tim Howard comments on the language changes in Freddie Mac's 10-Q - Howard on Mortgage Finance | |
| 12 U.S. Code § 4617(a)(3)(A)-(L) as it Relates to the Regulated Entities - th717.wordpress.com | |
| Opinion: Small lenders want GSEs preserved - Scotsman Guide | |
| Why The US Doesn't Need Fannie Mae And Freddie Mac - benzinga | |
| Fannie Mae Monthly Summary June 2017 - fanniemae.com | |
| Bipartisan Senate bill would force Fannie, Freddie to think outside FICO - American Banker
Subscription required for full access. | |
| Prepared
Remarks of Melvin L. Watt, Director of FHFA at the National Association
of Real Estate Brokers' 70th Annual Convention - fhfa.gov | |
| Jerome Corsi: Alex Jones Infowars (8.01.17)(pt-4) Real News! - Youtube
Jerome Corsi claims, at 8:45, that the Trump administration will allow the GSEs to recapitalize this year. | |
|
| |
| Monday July 31st 2017 | |
| A Pattern of Deception - Howard on Mortgage Finance | |
| A cautionary note for those intent on gutting GSEs - American Banker | |
| Additional Government Documents Unsealed in GSE Shareholder Case - Inside Mortgage Finance | |
| New Docs Support Fannie Mae and Freddie Mac Shareholders in Court - Infowars | |
| Fannie Mae Announces Scheduled Release of Second Quarter 2017 Financial Results - fanniemae.com
"Fannie
Mae today announced plans to report its second quarter 2017 financial
results on Thursday morning, August 3, 2017, before the opening of U.S.
financial markets." | |
|
| |
| Sunday July 30th 2017 | |
| Michael Kimelman: How Obama committed "biggest theft in history" - Youtube | |
| Amended Complaint Shows Government Lied To Public About GSEs - Seeking Alpha by Glen Bradford | |
|
| |
| Saturday July 29th 2017 | |
| Obama Looted Fannie Mae and Freddie Mac - American Thinker | |
| Freddie Mac Announces Release Date for Second Quarter 2017 Financial Results - freddiemac.com
2Q results will be released on Tuesday, August 1st. | |
| High Court Bid Planned by Fannie/Freddie Investors - cftn.news
Subscription required for full access. | |
| H.R.3556
- To require Fannie Mae and Freddie Mac to engage in credit risk
transfer transactions, and for other purposes - congress.gov | |
| 05/18/2017 - Sen. Corker makes his '75 days' comment to Treasury Secretary Mnuchin - C-SPAN (Video) | |
|
| |
| Friday July 28th 2017 | |
| New Documents Give Hope to Fannie Shareholders Seeking Redress - Bloomberg | |
| Fannie And Freddie Investors Hope New Unsealed Court Documents Are The Smoking Gun They Need - benzinga.com | |
| Mnuchin Mum on Trump Administration’s Plans for GSE Reform at Hearing - Inside Mortgage Finance | |
| Fannie, Freddie reformer Rep. John Delaney running for president in 2020 - HousingWire | |
| Obama’s “bailout” ripoff, PLUS: Our proud British past (Mike Kimelman, Kevin Donnelly) - therebel.media
This
appears to be a podcast that you have to subscribe to. Concerning the
GSEs, they state "Nobody is talking about this but it’s the biggest
theft in human history." | |
|
| |
| Thursday July 27th 2017 | |
| New recording in the Robinson case.
Peter Chapman writes, "A recording of the oral arguments presented to the Sixth Circuit today is now available at https://goo.gl/ZxmZxr at no charge." | |
| New filing in the Perry case, click here to view.
Peter Chapman writes, "Judge
Lamberth received the D.C. Circuit's mandate this week, and a copy of
the court filing recording that event is (linked above)." | |
| New filing in the Rop case, click here to view.
Peter
Chapman writes, "The Rop Plaintiffs filed their First Amended Complaint
today, and a copy is attached to this e-mail message. Direct your
attention to paragraphs 29, 34, 61, 62, 69, 74, 75, 77, 86, 89, 90, 96,
97, 101, 102 and 104 in the Amended Complaint if the latest revelations
that have come to light in Fairholme v. U.S. make any difference." | |
| Statement
Of Steven T. Mnuchin Secretary, United States Department Of The
Treasury Before The Committee On Financial Services, United States
House Of Representatives - mondovisione.com | |
| Mnuchin: Housing finance reform still a priority for Trump administration - HousingWire | |
| Mnuchin says there can't be an "implicit" govt guarantee...via @ABWashBureau - Twitter | |
| Fannie, Freddie Transfer $5.5B Through Popular CRT Program - Inside Mortgage Finance | |
| Individuals With Access to Protected Information in Fairholme v. U.S. – glenbradford.com | |
| In 2009, a former Treasury official tasked w helping devise the sweep told me...via @JoshRosner - Twitter | |
| MBA's Mortgage Reform Voodoo Economics - Scribd
By Josh Rosner | |
|
| |
| Wednesday July 26th 2017 | |
| New filing in the Perry case, click here to view.
Peter
Chapman writes, "The D.C. Circuit issued its mandate this week to
formally pass jurisdiction over over GSE shareholder litigation back to
Judge Lamberth." | |
| Fiscal Year 2018 Treasury Department Budget Request - C-SPAN
Treasury Secretary Mnuchin talks about the GSEs at the 31 minute mark. | |
| The New York Times and Rolling Stone Smeared A Retired Civil Servant - Breitbart | |
| Carney Tries (and fails) To Claim The NYT and Rolling Stone “Smeared” Ugoletti - Valueplays | |
| Whalen: Future of Fannie, Freddie not the real issue with GSE reform - HousingWire | |
| Tim Howard comments on the administrative impact of the newly released documents - Howard on Mortgage Finance | |
| Here’s what it looks like when the foreclosure ‘pig’ moves through the housing-crisis ‘python’ - MarketWatch | |
| FHFA Updates Progress on Fannie Mae and Freddie Mac Credit Risk Transfer Programs - fhfa.gov | |
| July 26, 2017 Investors Unite Teleconference with Tim Pagliara and Cooper & Kirk Partner, Pete Patterson - Investors Unite | |
|
| |
| Tuesday July 25th 2017 | |
| Unsealed documents show Fannie, Freddit bailout details - CNBC Video
Featuring Josh Rosner and Dick Bove. | |
| Newly Released Documents Show Government Misled Public on Fannie/Freddie Takeover - Rolling Stone
By Matt Taibbi | |
| Fanniegate: The Cover-Up Unravels – HINDESight
By Gary Hindes | |
| New Docs Undermine Government's Legal Defense Of GSE NWS - Seeking Alpha by Glen Bradford | |
| More Damaging Documents Released Against Government in GSE Lawsuit - Inside Mortgage Finance | |
| Unsealed Court Docs Paint Fannie/Freddie as Congressional Cash Cow - Mortgage News Daily | |
| Greta Van Susteren tweets that we need an investigation into Fannie and Freddie - Twitter | |
| Secret Treasury Documents Shed Light On Changes To Bailout of Fannie and Freddie - Breitbart | |
| Fannie, Freddie are irrelevant to a government-backed mortgage system - National Mortgage News
By Christopher Whalen | |
| Freddie Mac Monthly Volume Summary June 2017 - freddiemac.com | |
| Fannie Docs Release Show Stunning Scope of Government Dishonesty - Valuewalk | |
| Gangster Government Revisited - powerlineblog.com | |
| Increased Black Homeownership Focus Of NAREB Convention In New Orleans - prnewswire.com
Occurs from July 28 - August 1. Mel Watt will be speaking. | |
|
| |
| Monday July 24th 2017 | |
| New filings in the Collins case.
17-20364-00514082225
17-20364-00514082332
17-20364-00514084623
Peter
Chapman writes, "Treasury asked the Fifth Circuit for 30 additional
days to file its brief. The Court granted Treasury 20 additional days.
Treasury's brief is now due Sept. 8. FHFA is asking the Fifth Circuit
for a similar extension to Sept. 8 to file its brief." | |
| New filing in the Deloitte case, click here to view.
Peter
Chapman writes, "The Eleventh Circuit entered an order Friday extending
the deadline for the Edwards Plaintiffs to file their opening brief to
Oct. 2, 2017." | |
| New filing in the Sammons v. U.S. (W.D. Texas) case, click here to view.
Peter
Chapman writes, "Mahesha P. Subbaraman at Subbaraman PLLC in
Minneapolis filed a notice of appearance in the Fifth Circuit today on
Mr. Sammons' behalf. Mr. Subbaraman's Web site at http://www.subbaramanpllc.com/ indicates that he's an appellate lawyer. " | |
| New filing in the Rop case, click here to view.
Peter
Chapman writes, "Judge Maloney entered an order this afternoon denying
the Rop Plaintiffs' motion to file their Amended Complaint under seal.
Judge Maloney will allow the Rop Plaintiffs to file a redacted version." | |
| New filings in the Jacobs and Hindes case.
15-00708-0072
15-00708-0073
Peter
Chapman writes, "Messrs. Jacobs and Hindes are asking Judge Sleet to
entertain oral argument on FHFA, Fannie and Treasury's motions to
dismiss. A copy of that request (Doc. 73), filed today, is (linked
above). Last week, R. Charlie Merritt, representing Treasury, entered
his appearance, and a copy of that notice (Doc. 72) is also (linked
above)." | |
| U.S. Foresaw Better Return in Seizing Fannie and Freddie Profits - NY Times
By Gretchen Morgenson | |
| Unsealed Documents - fanniefreddiesecrets.org
Click on the heading 'Unsealed Documents - July 19, 2017 | |
| More Documents, More Proof of a Scheme to Illegally Pilfer Fannie and Freddie - Investors Unite | |
| Newly unsealed documents reveal real reason for Fannie, Freddie profit sweep - HousingWire | |
| Tim Howard comments on the newly unsealed documents - Howard on Mortgage Finance | |
| Treasury &FHFA Documents Demonstrating Obama Admin Violation of Law – Scribd
By Josh Rosner | |
| Freddie Mac going 'anti-home owner' by investing in rental... - CNBC Video
Josh Rosner and Dick Bove try to discuss the newly unsealed documents | |
| Largest financial crime in U.S history... via @BlackPacificCap - Twitter
An excerpt from the CNBC video. | |
| Proof Positive Obama Administration Stole Dividends From Fannie And Freddie Shareholders - Infowars | |
| Corruption Exposed! This Could Be THE END for Obama’s Legacy! - truthfeed.com | |
| Investors Unite: Media Teleconference at 9:30am EDT Tuesday on Unsealed Documents with Plaintiff Attorney - prnewswire.com | |
| Building a mortgage meltdown for the rental market - NY Post | |
| Court of Chancery Dismisses Complaint Seeking to Enforce a Stockholder’s Section 220 Demand - The National Law Review
The article discusses the Pagliara v. Fannie Mae case. | |
| How Freddie’s single-family rental strategy differs from Fannie’s - National Mortgage News | |
|
| |
| Friday July 21st 2017 | |
| Small Lenders United in Opposition to Big Bank Plans to Replace Fannie and Freddie - Investors Unite | |
| The reason small lenders are leery of GSE reform - American Banker | |
| Fannie Mae prices $1.35 billion credit risk sharing transaction - mpamag.com | |
| Fannie, Freddie Head to Another Record Year - cmalert.com | |
| CUNA housing reform principles brought to Senate Banking Committee - cuna.org | |
| Brown Opening Statement at Committee Hearing on Housing Finance Reform: Maintaining Access for Small Lenders - senate.gov | |
| Small lenders fear GSE reform would resurrect bulk discounts for big banks - American Banker
Subscription required for full access. | |
|
| |
| Thursday July 20th 2017 | |
| Housing Finance Reform: Maintaining Access for Small Lenders - senate.gov
With video | |
| ICBA to Congress: Enact Fair and Prudent Housing Finance Reform - icba.org | |
| Small lenders to Congress: Here’s the GSE reform we don’t want to see - HousingWire | |
| Small lenders grab spotlight on reform debate - Scotsman Guide | |
| Idaho Banker: High Time for GSE Reform - ABA Banking Journal | |
| Fannie-Freddie Reform Hinges on Keeping Small Lenders Happy - Bloomberg | |
| GSE’s Further Establishing Dominance - DS News | |
| Single Security Praised by Urban Institute - Mortgage News Daily | |
| Freddie Mac Follows Fannie Mae to Rental Market, With Affordability as Goal - NY Times | |
| U.S. Fed buys $6.5 billion of mortgage bonds, sells $250 million - Reuters | |
|
| |
| Wednesday July 19th 2017 | |
| New filing in the Bhatti case, click here to view.
Peter
Chapman writes, "Judge Schiltz entered an order yesterday directing the
Bhatti Plaintiffs to file an amended complaint containing less than
10,000 words by Aug. 4; establishing this briefing schedule for FHFA
and Treasury's motions to dismiss and the Bhatti Plaintiffs' motion for
summary judgment:
-- FHFA and Treasury's motions to dismiss due by Sept. 15;
-- Bhatti Plaintiffs' response and motion for summary judgment due by Oct. 16;
-- FHFA and Treasury's reply and response due by Nov. 16; and
-- Bhatti Plaintiffs' reply due by Dec. 1; and
and setting these matters for hearing at 9:00 a.m. on Fri., Dec. 22, in Minneapolis." | |
| New filing in the Collins case, click here to view.
Peter
Chapman writes, "The Collins Plaintiffs delivered their opening brief
to the Fifth Circuit today. The Collins Plaintiffs ask the Fifth
Circuit to review these three issues:
(A) whether FHFA’s status as
an independent agency headed by a single Director violates the
separation of powers, thus requiring vacatur of its decision to impose
the
Net Worth Sweep;
(B) whether FHFA exceeded its statutory
authority as conservator by imposing the Net Worth Sweep, which
prevents the Companies from preserving capital or being restored to
soundness and solvency; and
(C) Whether 12 U.S.C. § 4617(f) bars
Plaintiffs’ claim that Treasury violated its own obligations under HERA
and the APA by imposing the Net Worth Sweep." | |
| New filing in the Robinson case, click here to view.
Peter
Chapman writes, "Ms. Robinson's lawyers advised the Sixth Circuit that
in its opening brief filed in Saxton v. FHFA in the Eighth Circuit last
month, Treasury concedes that HERA "instruct[s] the conservator to act
in 'the best interests of the regulated entity or the Agency,'" and
that statement is inconsistent with Treasury's position that FHFA can
do whatever it wants." | |
| New filings in the Deloitte case.
17-12852-0007
17-12852-0008
Peter
Chapman writes, "The Eleventh Circuit told the parties to go talk to
Judge Scola about changing the case caption in an order entered this
week, and the Edwards Plaintiffs ask the Eleventh Circuit for a 60-day
extension to file their opening brief." | |
| PIMCO: Non-Agency Changes Needed Before GSE Reform - Inside Mortgage Finance | |
| Federal Housing Finance Agency Proposes GSE Goals - jdsupra.com | |
| Mortgages: The Danger of Capital-Free GSEs - nuwireinvestor.com | |
| Freddie Mac Follows Fannie Mae to Rental Market, With Affordability as Goal - NY Times | |
| If Housing is So Affordable, Why Doesn’t It Feel That Way? - freddiemac.com | |
| Housing Finance Reform: Maintaining Access for Small Lenders - senate.gov
Occurs July 20 at 10:00 am | |
|
| |
| Tuesday July 18th 2017 | |
| New filing in the Bhatti case, click here to view.
Peter
Chapman writes, "FHFA and Treasury sent Judge Schiltz a letter
yesterday following a conference call with his Courtroom Deputy. FHFA
and Treasury tell Judge Schiltz that they won't be able to file joint
motions to dismiss and supporting briefs. The letter disclosed that the
Bhatti Plaintiffs intend to file an amended complaint." | |
| A new court action has been initiated. Cause of Action Institute v. DOJ. Click here to view.
Peter
Chapman writes, "Cause of Action Institute filed a complaint in the
U.S. District Court for the District of Columbia today seeking access,
pursuant to the Freedom of Information Act, to all records transmitted
from FHFA, Treasury and other agencies, to the House Committee on
Financial Services. Chairman Hensarling, supposedly, has directed FHFA,
Treasury, and other agencies to shield those records from public view." | |
| Perry Reissue Legal Win For Fannie and Freddie Plaintiffs - Seeking Alpha by Glen Bradford | |
| On Second Thought…Federal Court Concedes a Little on Shareholder Damage Claims - Investors Unite | |
| Building A Better America A Plan for Fiscal Responsibility - house.gov
See the top of page 26. | |
| Fannie Mae and Freddie Mac Would Be Privatized Under Proposed House Budget - The Street | |
| Spot the difference between 2016 version of the House Budget vs 2017...via @Alec_Mazo - Twitter | |
| The Future of Housing: Protecting Taxpayers and Ensuring a Robust Secondary Housing Market - pepperdine.edu
Occurs July 25th 8:30 - 9:30 PDT | |
| Capital Buffer: Any Solution Will Be Dependent Upon The GSEs Being Capitalized (Fanniegate) (Volume 3) - Amazon
A new book by G Richard Bradford III | |
| Housing Opinion GSE reform done right ensures a
level playing field for all - National Mortgage NewsFinance Reform: First Things First - pimco.com | |
|
| |
| Monday July 17th 2017 | |
| New filings in the Perry case.
14-5243-1684471
14-5243-1684473
Peter Chapman writes, "The
D.C. Circuit reissued its opinion in Perry v. Mnuchin today. Copies of
the reissued opinion (Doc. 1684473) and an order explaining the changes
(Doc. 1684471) are (linked above).
The sentence on page 68 of the
Feb. 21 opinion citing Nemec for the proposition that, "What is
arbitrary or unreasonable depends upon 'the parties' reasonable
expectations at the time of contracting,'" has been deleted from the
reissued opinion, and the D.C. Circuit tells Judge Lamberth at page 69
of the reissued opinion that he may need to hear more from the parties
about GSE shareholders' reasonable expectations as he revisits GSE
shareholder' claims for breach of contract and breach of the implied
covenant of good faith and fair dealing regarding liquidation
preferences and the claim for breach of the implied covenant with
respect to dividend rights." | |
| New filing in the Jacobs and Hindes case, click here to view.
Peter
Chapman writes, "Treasury delivered its reply brief to Judge Sleet
today. Our government sings its favorite "shareholders can't sue us"
and "Delaware corporate law is irrelevant" ditties." | |
| 2nd filing in the Jacobs and Hindes case, click here to view.
Peter
Chapman writes, "FHFA and Fannie Mae delivered their reply brief to
Judge Sleet today. FHFA and Fannie Mae repeat their 4617(f)
anti-injunction and shareholder succession arguments, say federal law
controls, and add that even if Delaware and Virginia law were
applicable, the Net Worth Sweep is permissible." | |
| Pursuit of Shareholder Rights Alive and Well as Sixth Circuit Considers Appeal - Investors Unite | |
| Opinion: MBA’s reform plan works - Scotsman Guide | |
| UI: Single-Security Efforts Alleviated GSE Pricing Disparities - Inside Mortgage Finance | |
|
| |
| Friday July 14th 2017 | |
| New filings in the Rop case.
17-cv-00497-0011
17-cv-00497-0012
17-cv-00497-0013
Peter
Chapman writes, "The Rop Plaintiffs filed a motion this afternoon
asking the Court for permission to file its amended complaint under
seal. Copies of the Rop Plaintiffs' motion, brief in support, and a
related certificate are (linked above). The Rop Plaintiffs also filed a
copy of their amended complaint under seal." | |
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