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"Ultimately, Truth Prevails"


June 2016
Thursday June 30th 2016
New filing in the Robinson case, click here to view.
Peter Chapman writes, "Ms. Robinson filed her response to FHFA's recently advanced you-can't-challenge-capital-classification argument, urging Judge Thapur to ignore this sideshow."
New filing in the Saxton case, click here to view.
Peter Chapman writes, "The Saxton Plaintiffs delivered their Response to FHFA and Treasury's Motions to Dismiss the shareholders' Amended Complaint challenging the Net Worth Sweep. The Saxton Plaintiffs urge Chief Judge Reade to deny the government's Motions to Dismiss and allow their lawsuit to proceed to trial."
The Novel Procedural Complexities in Perry Capital v. Lew - Forbes
By Richard Epstein
U.S. Seeks to Cut Investor Dominance in Buying Soured Mortgages - Bloomberg
Short Takes: ...A GSE Price Cut, Not an FHA One?... - Inside Mortgage Finance
Fannie Mae, Freddie Mac resolve just 24% of non-performing loans - HousingWire
Fannie Mae’s Mortgage Portfolio Value Tumbles - DS News
Former FHFA head wants to turn Fannie, Freddie into insurance companies - The Real Deal

Wednesday June 29th 2016
New notation in the Deloitte case. Peter Chapman writes, "Judge Scola entered a paperless order (Doc. 17) giving the Edwards Plaintiffs until Aug. 1 to respond to FHFA's renewed substitution motion."
Why Housing Reform Still Matters - Milken Institute
By Michael Bright and Ed DeMarco
Fannie-Freddie Would Be Lender-Owned in DeMarco’s Plan - Bloomberg
Ex-FHFA Chief Makes Case for Radical Housing Reform - DS News
FHFA Examiners Worry About Inability of GSEs to Build Capital; Risk-Transfer Costs a Concern Too - Inside Mortgage Finance
Groups say Fannie and Freddie are gouging home buyers with add-on fees - Washington Post
Fannie Mae, Freddie Mac look for more ways to share credit risk - HousingWire
Supreme Court to Hear Case Involving Where Fannie Can Be Sued - National Mortgage News
SCOTUS to Hear Fannie Mae Jurisdiction Fight - Courthouse News Service
PennyMac SVP of Business Development Bolts for Think Tank; Bright Worked for Sen. Corker - Inside Mortgage Finance

Tuesday June 28th 2016
New filing in the Saxton case, click here to view. (Doc. 61)
2nd filing in the Saxton case, click here to view. (Doc. 84)
3rd filing in the Saxton case, click here to view. (Doc. 85)
Peter Chapman writes, "At the Saxton Plaintiffs' behest, Magistrate Scoles released the shareholders' Amended Complaint from seal yesterday. Copies of the Saxton Plaintiffs' Motion (Doc. 84), Magistrate Scoles' Order (Doc. 85), and the now-unsealed Amended Complaint (Doc. 61), are (linked above)."
Unsealed Saxton Amended Complaint - th717.wordpress.com
#FannieGate Docs Unsealed - Hitler Remix - Youtube
Fannie Mae Monthly Summary May 2016 - fanniemae.com
BRIEF-Fannie Mae's May gross mortgage portfolio fell at compound annualized rate of 32 pct - Reuters
Trump wrongly says Clinton filibustered Fannie Mae and Freddie Mac legislation - Politifact
Freddie Mac Monthly Volume Summary May 2016 - freddiemac.com
BRIEF-Freddie Mac issues monthly volume summary for May - Reuters

Monday June 27th 2016
FHFA's Hostile GSE Takeover Of GSEs Laid Out In Discovery Documents - Seeking Alpha by Glen Bradford
Where Theory Meets Reality – Ginnie Mae Takes Out Freddie Mac - Valuewalk
Significant Lawsuits Concerning Fannie Mae & Freddie Mac Net Worth Sweep - bankrupt.com
How Housing’s New Players Spiraled Into Banks’ Old Mistakes - NY Times
Top regulators: Congress needs to act on housing finance reform - mpamag.com
FICS® Partners with Fannie Mae® to Enhance Mortgage Servicer® for Future Changes to Investor Reporting - Yahoo
New Bill Presses Treasury to Research Ending GSE Conservatorships - Inside Mortgage Finance
The Fed Seeks To Postpone A Fedgov Default While The President Works To Hasten It - Forbes
"but (Obama's) end game is to bankrupt federal programs as the trigger event for the federal government nationalizing them. (It worked for Fannie and Freddie, so why not Social Security?)"
Foreclosure Prevention Report - fhfa.gov
New notation in the Voacolo case. Peter Chapman writes, "The Clerk made a notation on the docket today that Mr. Voacolo's lawsuit has been assigned to the Honorable Rudolph Contreras (rather than Judge Lamberth). More information about Judge Contreras is avilable at http://www.dcd.uscourts.gov/content/district-judge-rudolph-contreras"

Sunday June 26th 2016
Trending GSE Reads For Week Of June 19th-25th - Invest Correctly
A new lawsuit was filed. Voacolo v. Fannie Mae, FHFA, and Treasury, click here to view.
Peter Chapman writes, "David J. Voacolo, a New Jersey resident who purchased 50,000 shares of Fannie Mae common stock in Aug. 2009, sued Fannie, FHFA and Treasury earlier today. A copy of Mr. Voacolo's complaint, filed in the U.S. District Court for the District of Columbia, is attached above.
Mr. Voacolo is proceeding under the Administrative Procedures Act and alleges an illegal exaction under the Fifth Amendment to the U.S. Constitution. Based on what the government said following his purchase of Fannie Mae stock, Mr. Voacolo alleges that the government has earned a sufficient return on its investment and Fannie Mae's future profits should flow to common shareholders.
Mr. Voacolo is represented by Alexander J. E. English, Esq., in Jessup, Md., and Afia SenGupta, Esq., and Angela Lipsman, Esq., at Brus Chambers LLC, in New York City. You'll recall seeing Mr. Voacolo and Brus Chambers' names in Exhibit 1 to FHFA's Transfer Motion presented to the Judicial Panel on Multidistrict Litigation on Mar. 15, 2016."

Friday June 24th 2016
Fact-Check Of 3 Reasons Treasury And DoJ Give To Stop 53 Documents From Court Of Appeals - Seeking Alpha
What's wrong with Fannie and Freddie? - Richmond Times-Dispatch
Ginnie Mae Passes Freddie Mac in Outsanding MBS - DS News
horsnby v. watt - GlenBradford.com
Yes, Brexit will help you refi, but upheaval may not be good for housing market - MarketWatch
Zillow + Fannie Mae: Brexit vote will likely lower mortgage rates - HousingWire
Single-Security Transition Could Become Model for Figuring Out Future of GSE ‘Legacy’ MBS - Inside Mortgage Finance
New filing in the Deloitte case, click here to view.
Peter Chapman writes, "The shareholder-plaintiffs in Edwards v. Deloitte tell Judge Scola they need another month to respond to FHFA's renewed motion to substitute. They ask that their deadline to respond to FHFA's motion to substitute be extended to Aug. 1, 2016."

Thursday June 23rd 2016
Capital Considerations - Howard on Mortgage Finance
Latest Trickle Reinforces Case That Sweep Was Long Contemplated - Investors Unite
Timothy J. Bowler Deposition - fanniefreddiesecrets.org
Fannie-Freddie Profits Don’t Sway Ex-Official’s Views on Sweep - Bloomberg
FSOC: Congress must take on housing finance reform - HousingWire
Legislative Approaches to Housing Finance Reform - milkeninstitute.org
By David Scharfstein and Phillip Swagel
Delinquent GSE Mortgages Continue to Decline - ABA Banking Journal
GSEs Remain in Full Gear - Scotsman Guide
As HUD Asks Americans to “Dare to Own the Dream” of Homeownership, NCRC Calls on Obama Administration to Preserve Affordable Housing Goals - Real Estate Rama
BI Litigation Watch; Fannie, Freddie Investor Appeal via @TheAdvoQT - Twitter
The 9 most important slides of the released docs! by JusticeWillWin - Investors Hub
New filing in the Perry case, click here to view.
Peter Chapman writes, "The D.C. Circuit entered an order this morning giving Treasury the five additional days is requested yesterday."
2nd filing in the Perry case, click here to view.
Peter Chapman writes, "Jeffrey W. Kilduff, Esq., and Michael J. Walsh, Jr., Esq., at O'Melveny & Myers LLP, entered their appearance today in Perry v. Lew as counsel to Fannie Mae. These are the same lawyers representing the GSE in Pagliara v. Fannie Mae, Case No. 16-cv-00193 (D. Del.). In every other case challenging the Third Amendment, Fannie Mae is represented by a team of lawyers at Bancroft."
New filing in the Roberts case, click here to view.
Peter Chapman writes, "Judge Chang entered an order today directing:
(A) FHFA and Treasury to file one joint motion to dismiss by July 13;
(1) FHFA and Treasury to file one brief addressing their shared arguments;
(2) FHFA and Treasury to file separate briefs about their parochial positions;
(B) the Roberts Plaintiffs to file their response by Aug. 12;
(C) FHFA and Treasury to file a combined reply by Sept. 14; and
(D) the parties to convene for a status hearing on Nov. 1 in Chicago."

Wednesday June 22nd 2016
Fannie And Freddie: This Could Be Resolved Right Now - A Plan For Recapitalization And Release - Seeking Alpha
Redacted files released in the Fairholme case - GlenBradford.com
We may have already seen these.
Ex-Obama Housing Adviser Joins Group Aiming to Shape the Future - Bloomberg
Former White House top housing advisor named BPC Fellow - HousingWire
Coalition of nation's largest housing groups push for cuts to Fannie, Freddie fees - HousingWire
Financial, Consumer Groups Push to Lower GSE Fees - National Mortgage News
Banks cannot replace, PMI cannot replace, private label MBS cannot replace via @investcorrectly - Twitter
Hill bill would provide path toward ending Fannie Mae, Freddie Mac conservatorship - The Ripon Advance
Fannie Mae (FNMA) and Freddie Mac (FMCC): Perry Capital v. Lew Minor Update - Invest Correctly
Fannie Mae (FNMA), Freddie Mac (FMCC): New Document Release - Invest Correctly
New filing in the Perry case, click here to view.
Peter Chapman writes, ""Treasury needs five additional days to file the supplemental briefs the D.C. Circuit requested yesterday. Neither the Class Plaintiffs nor FHFA object to the five-day delay."
New filing in the Fairholme case, click here to view.
Peter Chapman writes, "Ms. Robinson's lawyers filed a redacted version of their client's motion (Doc. 321) asking Judge Sweeney to unseal documents referred to in her amended complaint filed in Kentucky. You'll recall that Judge Sweeney entered an order (Doc. 323) urging the parties to work out their differences and Ms. Robinson withdrew (Doc. 324) her motion. I believe the 55 exhibits were previously posted at http://fanniefreddiesecrets.org/ when Judge Sweeney released them from seal."

Tuesday June 21st 2016
New filing in the Perry case, click here to view.
Peter Chapman writes, "The D.C. Circuit has asked the Class Plaintiffs, FHFA and Treasury to submit briefs discussing whether the Court has jurisdiction to consider the shareholders' common law claims. The D.C. Circuit wants to receive these briefs by July 15."
A Surprise Twist in the Fannie and Freddie Appeal - WSJ
Appeals court has more questions for plaintiffs in GSE case - Seeking Alpha
Appeals court wants more info - Google Groups
Analysis on Order for Additional Briefs by 'rekcusdoo - iHub
GSE Equity Set To Escape Government Death Grip - Seeking Alpha by Glen Bradford
Fannie Mae And FHFA Have Radically Reformed Housing Finance In America: Game Over - timhoward717.com
Fannie Mae (FNMA) and Freddie Mac (FMCC) Court Cases: Perry Capital v. Lew - Invest Correctly
Opinion: Why a 30-year home mortgage may leave you house poor - MarketWatch
As HUD Asks Americans to “Dare to Own the Dream” of Homeownership, NCRC Calls on Obama Administration to Preserve Affordable Housing Goals - NCRC
Opinion Journal: Fannie Mae Won’t Die - WSJ (video)
Featuring French Hill.
Short Takes: ...He’s Back: GSE Wag Bill Maloni - Inside Mortgage Finance

Monday June 20th 2016
Blogging, again (but not as often) - Bill Maloni's GSE Blog
Fannie Mae (FNMA) and Freddie Mac (FMCC): Two Pieces of Legislation That Could Be Interesting - Invest Correctly
Freddie Mac Reaches $650 Billion Credit Risk Transfer Milestone - Market Wired
No Recap and Release? How About Review and Reform? - DS News
Congressman French Hill may not be a friend to the GSEs - timhoward717.com
Freddie Mac Works to Involve Private Investors More - DS News

Sunday June 19th 2016
Is It Time to Kill Fannie Mae? A $100 Billion Plan for the Mortgage Market - Yahoo via The Fiscal Times
Bruce Berkowitz: D.C. Circuit Should Upend Treasury’s Net Worth Sweep - Valuewalk

Saturday June 18th 2016
Trending GSE Reads This Week: FNMA, FMCC - Invest Correctly
Change, Challenge, and Progress in Housing Finance - fanniemae.com
Egbert Perry gets new blood on the board of Fannie Mae - bizjournals.com

Friday June 17th 2016
Post Oral Arguments Legal Filings Demonstrate Value In GSE Equity Securities - Seeking Alpha by Glen Bradford
Hypocrisy in Bailout Terms for Federal National Mortgage Assctn Fannie Mae, and Federal Home Loan Mortgage Corp - Invest Correctly
What We’re Hearing: Worrying About Nonbanks – Again / Banks and the GSEs: The Love Affair is Over / Keep it Under $5 Billion So the FHFA Won’t See It... - Inside Mortgage Finance
H.R.5505 - To amend the Consumer Financial Protection Act of 2010 to require annual studies on ending the conservatorship of Fannie Mae, Freddie Mac, and for other purposes - congress.gov
Hill Introduces lending reform bill - thecabin.net
National Association of Realtors declares support for alternative credit scoring - HousingWire
Countrywide’s Mozilo Off Hook as U.S. Said to Abandon Suit - Bloomberg
"The Justice Department claimed the bank and Countrywide generated thousands of defective loans and sold them to Fannie Mae and Freddie Mac..."
GSEs' risk-sharing could lead to mortgage-rate volatility, Urban Institute says - Scotsman Guide
New filing in the Saxton case, click here to view.
Peter Chapman writes, "FHFA delivered its supplemental brief to the Court in Iowa asserting that sec. 4623(d) of HERA provides a third statutory hurdle the Saxton Plaintiffs must jump to prevent dismissal of their complaint."
New filing in the Robinson case, click here to view.
Peter Chapman writes, "FHFA delivered its supplemental brief to Judge Thapur in Kentucky. FHFA blows its recently discovered trumpet that says sec. 4623(d) of HERA blocks Ms. Robinson's lawsuit."
Tim Howard comments on the latest filings in the Robinson and Saxton cases - Howard on Mortgage Finance
New filing in the Pagliara v. Freddie Mac case, click here to view.
2nd filing in the Pagliara v. Freddie Mac case, click here to view.
3rd filing in the Pagliara v. Freddie Mac case, click here to view.
Peter Chapman writes, "FHFA and Freddie Mac delivered their papers to Judge Cacheris explaining why Mr. Pagliara should not have access to Freddie Mac's books and records. FHFA and Freddie Mac say that HERA transferred stockholders' rights to FHFA so Mr. Pagliara has no inspection or investigation rights to exercise. Moreover, the Defendants say, HERA fully insulated FHFA from all litigation. "

Thursday June 16th 2016
Bruce Berkowitz Celebrates Latest GSE Victory - Valuewalk
A Look At the Use of Executive Privilege: Fannie Mae (FNMA) and Freddie Mac (FMCC) - Invest Correctly
Short Takes: Hillary, Donald, Fannie and Freddie? / NAHB Prefers ‘Ranieri-Zandi’ Plan... - Inside Mortgage Finance
Growing cost of planned Fannie Mae headquarters comes under fire - Washington Post
U.S. watchdog warns of cost overruns at Fannie Mae headquarters - Reuters
Costs Skyrocket 53 Percent For Fannie Mae’s Plush New Headquarters - The Daily Caller
FHFA watchdog blasts lax oversight of rising Fannie Mae headquarters construction costs - HousingWire
FHFA "strongly disagrees" with questioning Fannie Mae's motives for HQ construction - HousingWire
Fannie Mae's new HQ costs rise - Seeking Alpha
Fannie Mae Has Fallen Asleep at the Wheel - house.gov
By Rep Ed Royce.
Fannie Mae D.C. Workplace Relocation FAQs - fanniemae.com
Industry Groups Divide on Top Priority For GSEs: Recapitalization or Total Reform - Inside Mortgage Finance
Subscription required for full access.
Documents from the Discussion titled 'Housing Finance Reform: New Policy Alternatives' hosted by Penn Wharton are listed below:
Agenda
A New Coalescence in the Housing Finance Reform Debate? By Susan Wachter and Patricia A. McCoy
A More Promising Road to GSE Reform: Governance and Capital By Parrott, Ranieri, Sperling, Zandi and Zigas
GSE Proposal: Four Steps Forward By Andrew Davidson
New filing in the Perry case, click here to view.
Peter Chapman writes, "Perry and Fairholme submitted their Reply in support of their request to further supplement the record with copies of recently unsealed documents Judge Lamberth never had the opportunity to see to the D.C. Circuit yesterday."
New filing in the Robinson case, click here to view.
Peter Chapman writes, "Deepthy Kishore entered her appearance yesterday to round out Treasury's legal team in Mr. Robinson's lawsuit in Kentucky."

Wednesday June 15th 2016
Untangling the GSE Foolishness: The D.C. Circuit Should Upend Treasury's Net Worth Sweep - Forbes
By Richard Epstein
Stevens to Watt: You Better Not Even Think about Doing Your Job - Investors Unite
Community lenders "baffled" to see major trade groups push "Wall Street" agenda - HousingWire
MBA's Stevens calls out hedge funds in GSE reform debate - Scotsman Guide
FHFA's 2015 Report to Congress - fhfa.gov
FHLBanks Poised for Meltdown; GSEs Not - The MReport
Will GSE Reform Proposal Be a Tough Sell for Investors? - DS News
Ryan proposes House Republican plan to ease U.S. regulations - Bloomberg Government
"Ryan’s plan incorporates other legislation that would wind down government sponsored enterprises Fannie Mae and Freddie Mac..."
What Is Fannie Mae? And Freddie Mac, for That Matter? - Yahoo
How Federal Housing Finance Agency (FHFA) and Treasury Violated Insolvency Principles In Case of FNMA and FMCC? - Invest Correctly
Short Takes: Mortgage Trade Group v. Mortgage Trade Group?... - Inside Mortgage Finance
The Subprime Mortgage Is Back: It's 2008 All Over Again! - Zero Hedge

Tuesday June 14th 2016
White House Formally Invokes Presidential Communications Privilege to Obfuscate Net Worth Sweep Decision - Investors Unite
Clinton Advisers’ Mortgage Plan Would Tap Investors for Billions - Bloomberg
Same article from Yahoo.
A Draw Is Highly Likely And You Should Welcome It - Seeking Alpha
FNMA, FMCC: Clinton Advisors Detail Housing Plan With Need for Over $100B in Private Capital - Invest Correctly
With few other takers, the government has to sell its distressed mortgages to Wall Street - MarketWatch
FHFA’s Attempt to Consolidate Shareholder Cases Denied - Inside Mortgage Finance
New Questions About the Financial Crisis Inquiry Commission - AEI
By Peter J. Wallison
David Fiderer responds to the Wallison article - Twitter
MBA's Stevens calls out hedge funds in GSE reform debate - Scotsman Guide
A More Promising Road to GSE Reform: Governance and Capital - economy.com
By Mark Zandi. Subscription required.
Fannie Mae Names Seasoned Executive J. Douglas Watt Senior Vice President and Chief Audit Executive - fanniemae.com
Why Banks Can Put GSE Buyback Worries Behind Them - American Banker
Fannie Mae: Almost no lenders plan to ease credit standards - HousingWire
New filing in the Saxton case, click here to view.
Peter Chapman writes, "Chief Judge Reade entered an order yesterday adopting the parties' briefing schedule."

Monday June 13th 2016
Why we need to move past “recap and release” - The Hill
By David H. Stevens
Review Of Risk Transfer Efforts By Freddie And Fannie, And A New Approach - Seeking Alpha
How Federal National Mortgage Assctn Fannie Mae, and Federal Home Loan Mortgage Corp Became Victim of Government’s Plan? - Invest Correctly
Surge in Purchase Activity Drives GSE Business Higher in May - Inside Mortgage Finance
New filing in the Deloitte case, click here to view.
Peter Chapman writes, "FHFA has renewed its motion to substitute itself for shareholders in the lawsuit against Deloitte."

Sunday June 12th 2016
Fair Judge Testing Presidential Privilege Assertions In GSE Lawsuits Bodes Well For GSE Investors - Seeking Alpha by Glen Bradford

Saturday June 11th 2016
Oral Arguments in Perry Capital v. Lew Devolved Into Nonsense - Fiderer on GSEs
04/24/2014 - What should be done with Fannie and Freddie? - Youtube
An AEI roundtable featuring Jim Parrott, Mark Calabria, David Stevens, Robert Couch, and Peter Wallison.

Friday June 10th 2016
Government Admits Return In GSE Legal Filing - Seeking Alpha by Glen Bradford
U.S. Treasury Flunks Finance 101 In GSE Litigation - Seeking Alpha
My view on the trade association/industry letters opposing and supporting GSE recapitalization - Google Groups
By Bill Maloni aka crownjewels
Urban Institute researcher urges more caution with GSE risk transfers - HousingWire
Industry groups oppose Fannie, Freddie capital boost - mpamag.com
Will the GSEs’ Status Quo Cause Another Crisis? - DS News
Wells Fargo Vet Lands on Fannie Mae's Board - National Mortgage News
Financial Services Roundtable - What's Next in Housing? - livestream.com (video)
Good discussion in the comments.
Government Misleads with Strange Math on Returns in Federal National Mortgage Assctn Fannie Mae, and Federal Home Loan Mortgage Corp - Invest Correctly
New filing in the Perry case, click here to view.
Peter Chapman writes, "FHFA delivered its opposition to the D.C. Circuit yesterday to Perry and Fairholme's request to take judicial notice of various documents Judge Sweeney unsealed last month. FHFA wags its finger and says Perry and Fairholme's supplemental document submission is both procedurally and substantively improper. "There is . . . no need . . . to attempt to substantiate . . . fact[s], or supplement the record," FHFA tells the D.C. Circuit. Perhaps that's not a 100% fair characterization of what FHFA actually says. In all events, FHFA urges the D.C. Circuit to ignore the additional documents Perry and Fairholme have provided."
New filing in the Saxton case, click here to view.
Peter Chapman writes, "The parties delivered a Joint Motion to the Iowa Court yesterday asking it to adopt this briefing schedule:
-- June 16 deadline for FHFA to file a supplemental brief;
-- June 30 deadline for Saxton Plaintiffs to respond; and
-- Aug. 1 deadline for FHFA & Treasury to file their Replies.
New filing in the Fairholme case, click here to view.
Peter Chapman writes, "The government delivered a fresh Declaration to Judge Sweeney this afternoon.
Nicholas L. McQuaid, Deputy White House Counsel, tells Judge Sweeney that the presidential communications privilege appropriately attaches to two documents and the redacted portions of two other documents the government has withheld from Fairholme."

Thursday June 9th 2016
Stealing Fannie Mae And Freddie Mac - Seeking Alpha by Glen Bradford
The Risk Involved With GSE Credit Risk Transfer - DS News
Housing advocates want Congress to wrap up finance system overhaul - The Hill
Fannie Mae Names Three Housing Finance Veterans to Board of Directors - PR Newswire
Fannie Mae: Civil & Human Rights Coalition Responds To Mortgage Bankers’ Letter - Valuewalk
ICBA Letter to Director Watt urging the suspension of dividend payments to the Treasury
Trade Groups Battle Over GSEs in Letters to FHFA while Watt Notes that Reform is up to Congress - Inside Mortgage Finance
News From NAMB: June 9, 2016 - National Mortgage Professional
Scroll down to 'Washington Post Creates Firestorm on Fannie/Freddie Takeover'
@timdillen1 receives a response from FINRA on naked short selling - Twitter
New filing in the Robinson case, click here to view.
Peter Chapman writes, "Judge Thapur entered an order yesterday adopting the parties' briefing schedule and scheduling oral argument for 1:00 p.m. on Thurs., July 14, 2016, in Covington, Ky."
New filing in the Perry case, click here to view.
Peter Chapman writes, "The government delivered its opposition to the D.C. Circuit yesterday to Perry and Fairholme's request to take judicial notice of various documents Judge Sweeney unsealed last month. The government wants the D.C. Circuit to ignore the documents Perry and Fairholme provide. "Treasury's motives are irrelevant to the question whether HERA's broad anti-injunction and transfer-of-shareholder rights provisions bar plaintiffs' suit," the government's lawyers say. It's not hard to predict that we'll see a reply from Perry and Fairholme within the next week or two."

Wednesday June 8th 2016
Solving the Wrong Problem - Howard on Mortgage Finance
The Beginning Of The End Of The Fannie And Freddie Capital Crisis - Seeking Alpha by Glen Bradford
Trade Groups to Watt: Congress Needs to Lead on GSEs - National Mortgage Professional
The letter can be viewed here.
Housing Industry Groups Oppose Fannie and Freddie Capital Boost - Bloomberg
Banking trade groups oppose piecemeal changes to GSEs - Scotsman Guide
ABA, Associations: GSE Reform Must Come from Congress - ABA Banking Journal
Housing and Banking Groups Announce Opposition to Fannie and Freddie Recap Plans - WSJ
Mortgage bankers, Realtors, home builders to FHFA: Let Congress handle GSE reform - HousingWire
Ruling Allows Disparate Fannie/Freddie Suits to Proceed - CFTN
Subscription required for full access.
New filing in the Roberts case, click here to view.
Peter Chapman writes, "The Parties delivered a Joint Status Report to Judge Chang today proposing this schedule:
* July 6 -- FHFA and Treasury file their motions to dismiss
* Aug. 5 -- the Roberts Plaintiffs respond to those motions to dismiss
* Sept. 7 -- FHFA and Treasury file their replies
New order in the Deloitte case. Peter Chapman writes, "Judge Scola entered a paperless order today lifting the stay in Master Sgt. Edwards' lawsuit against Deloitte and reopening that litigation."

Tuesday June 7th 2016
New filing in the Pagliara v. Freddie Mac case, click here to view.
Peter Chapman writes, "The parties ask Judge Cacheris to adopt this schedule to get Mr. Pagliara's books and records lawsuit against Freddie Mac back on track:
* June 17 -- FHFA and Freddie files motions to substitute and dismiss
* July 19 -- Mr. Pagliara files his responses to those motions
* July 29 -- FHFA and Freddie Mac file their replies
* Aug. 4 -- Hearing on motions to substitute and dismiss"
Judicial Panel Ruling Empowers Shareholders to Fight On - Investors Unite
Washington Post Editorial On Fannie And Freddie Is Based On Two Profoundly False Assumptions - Fiderer on GSEs
Don’t reform Fannie Mae and Freddie Mac into the grasp of Wall Street and big banks - The Washington Post
"Who would be the likely beneficiaries of a reconstituted housing-finance system based on the reform proposals that have gained traction to date? Wall Street banks and insurance companies — institutions that have long clamored for the Fannie-Freddie line of business but are among the last that should be entrusted with such an important role in the housing market."
Short Takes: Rep. Hensarling: GOP Still Wants to Kill Fannie and Freddie... - Inside Mortgage Finance
Bruce Berkowitz Gets a Win in Judicial Panel on Fannie Mae and Freddie Mac - Guru Focus
Same article at Yahoo.
How the GOP Could Kick Dodd-Frank to the Curb -- Without Helping Wall Street - The Street
The GOP Plan to End Wall Street Bailouts - The Daily Signal
“It wasn’t deregulation that created the great financial crisis of 2008, it was mostly dumb regulation by the Washington elite,” Hensarling told The Daily Signal on Monday before the speech. “And there were none dumber than those compelling Fannie Mae and Freddie Mac to loan money to people for homes they couldn’t afford to keep.”

Monday June 6th 2016
New filing in the Pagliara v. Fannie Mae case, click here to view.
Peter Chapman writes, "Mr. Pagliara alerted Judge Sleet today about the MDL Panel's ruling and asked that the stay be lifted."
New filing in the PricewaterhouseCoopers case, click here to view.
Peter Chapman writes, "PwC has notified Judge Moreno that the JPMDL entered an order denying FHFA's motion to consolidate."
The One Thing Democrats and Republicans Increasingly Agree On… - Valueplays
Bove Calls The Latest Fannie Mae Developments A “Blockbuster” - Valuewalk
Bruce Berkowitz Hails Latest Win In Fannie Mae Fight - Valuewalk
My response to the Washington Post's Saturday GSE editorial - Google Groups
By Bill Maloni aka 'crownjewels.'
Reforming Fannie Mae and Freddie Mac? Don't Hold Your Breath - Intereconomics
By Laurie Goodman of the Urban Institute
Amnesia? We Remember the Lack of a Cushion - WSJ
WaPo: Stop trying to resurrect Fannie and Freddie - HousingWire
Both Sides of the Aisle Urging GSE Reform - DS News
NCRC Applauds Letter from 32 Members of Congress to FHFA Director and Treasury Secretary Urging Adequate Capital at Fannie and Freddie - RealEstateRama
Bob Corker, Andy Berke dragged through the mud over 'corruption' - Times Free Press
"(Corker) charges complaints filed against him by a self-styled Washington watchdog group are part of a smear spurred by angry hedge fund billionaires fearful his stance on the future of mortgage giants Fannie Mae and Freddie Mac would torpedo their considerable investments."
15 DC-area companies make the new Fortune 500 list - wtop.com
No. 16: Fannie Mae
No. 43: Freddie Mac
'timdillen' details his phone call with FINRA to discuss naked short selling of GSE stock - timhoward717.com

Sunday June 5th 2016
Clinton Adviser Co-Authored Plan to Replace Fannie and Freddie - MyInforms.com

Saturday June 4th 2016
Fannie Mae And Freddie Mac: If Net Worth Sweep Dies, Potential Upside Is Huge - Seeking Alpha by Glen Bradford
Five critical housing questions our next President needs to answer - HousingWire
MDL Victory for GSE Plaintiffs Means Court Back in Session - originatortimes.com
You have to scroll down to the article.
If GOP keeps Senate control, Idaho influence will grow - McClatchyDC
Sen. Crapo renews his vow to eliminate the GSEs.
This Fannie-Freddie resurrection needs to die - Washington Post
Reposting from yesterday. Be sure to read the comments after the article.
09/17/2015 - We Cannot Trust Big Market Rigging Banks To Replace The GSE's - TalkMarkets

Friday June 3rd 2016
New filing in the Jacobs and Hindes case, click here to view.
Peter Chapman writes, "The Delaware Plaintiffs alerted Judge Sleet today about the MDL Panel's ruling and ask that the stay be lifted."
New filing in the Edwards v. Deloitte case, click here to view.
Peter Chapman writes, "Deloitte notified Judge Scola yesterday that the JPMDL entered an order denying FHFA's motion to consolidate."
New filing in the Robinson case, click here to view.
Peter Chapman writes, "Ms. Robinson, FHFA and Treasury delivered a Joint Notice to Judge Thapur today advising that FHFA's MDL request was denied.
MDL Victory For GSE Plaintiffs Means Court Back In Session - Seeking Alpha by Glen Bradford
Congressional Democrats join push to recapitalize Fannie Mae, Freddie Mac - HousingWire
Fannie Mae’s financing for solar: a game changer for solar industry - Renew Economy
What We’re Hearing: Director Watt, Don’t Let the GSEs Build a Capital Buffer? / What?... - Inside Mortgage Finance
Register for free to access the article.
Trending This Week: FNMA, FMCC, TWTR, YHOO - Invest Correctly
This Fannie-Freddie resurrection needs to die - Washington Post
CBL & Associates Properties Inc. - Join This Class Action - Rosen Legal
"According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) certain of its employees may have provided material non-public information to Senator Robert Corker..."

Thursday June 2nd 2016
New filing in the JPMDL, click here to view.
Peter Chapman writes, "The JPMDL entered its Order this morning denying FHFA's move to consolidate and transfer. I do not believe there is a right of appeal from an MDL Panel decision. As a result, each of the federal judges will pick up with their respective cases right where they left off."
New filing in the Roberts case, click here to view.
Peter Chapman writes, "Judge Chang entered a Minute Order today directing the parties in Roberts v. FHFA to get this case back on track. Judge Chang wants to see a Joint Status Report by June 9; tells the Plaintiffs that if they want to start discovery they should do so by filing a motion without delay; and tells the parties that he'll see them in court on June 28."
New notation in the Saxton case. Peter Chapman writes, "The U.S. District Court for the Northern District of Iowa received the JPMDL's order today and has directed the Saxton Plaintiffs to file their Responses to FHFA and Treasury's Motions to Dismiss by June 16, 2016."
Big Win for GSE Plaintiffs - Valueplays
Government Suffers A Setback in Fannie and Freddie Litigation - WSJ
Judge Sweeney Order Tempo Good For GSE Plaintiffs - Seeking Alpha by Glen Bradford
Community Groups Call for Recapitalization of GSEs and End to Dividend Payments to U.S. Treasury - RealEstateRama
Judge Steele responds to navycmdr about the MDL decisions and the Delaware case - Investors Hub
Housing Finance Reform: New Policy Alternatives
Event scheduled for June 15. Peter Wallison and Joshua Rosner, among others, are speaking.
Letter from Members of Congress to Director Watt - twitdoc.com

Wednesday June 1st 2016
New filing in the Fairholme case, click here to view.
2nd filing in the Fairholme case, click here to view.
Peter Chapman writes, "Judge Sweeney entered an Order this afternoon accepting the parties' tardy Joint Status Report and entered an unsealed version of her Order dated May 20. In the May 20 Order, Judge Sweeney says she doesn't have enough information to determine whether the public description of Mr. Parrott's deposition resulted from a violation of the Protective Order."
John Taylor: Improving Our Mortgage Finance System Shouldn’t Require a Total Reinvention - Urban Institute
Congress Must Act on Fannie, Freddie Reform - WSJ
Work Moving Too Slowly on Single GSE Security, MBA Chief Says - National Mortgage News
New GSE Single Security On Track To Go Live In 2018 - MortgageOrb
Local Realtors join peers to advance vital housing and property issues - Bakersfield.com
Advocacy groups renew pitch to recapitalize GSEs - Scotsman Guide
Groups Call for Action on Housing Finance Reform - DS News
Civil Rights, Consumer Groups Urge FHFA to Recapitalize Fannie and Freddie - National Mortgage News








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