| Sunday April 30th 2017 |
| Rep. Hensarling on tornado recovery, GOP legislation – Fox News Video GSE talk at 6:23. |
| Media Advisory: ICBA Capital Summit May 1 – 3 – icba.org Rep. Jeb Hensarling is scheduled to speak on May 2nd and Treasury Secretary Steven Mnuchin on May 3rd. |
| Friday April 28th 2017 |
| New filing in the Roberts case, click here to view. Peter Chapman writes, “The Roberts Plaintiffs delivered a Notice of Appeal to the District Court in Chicago yesterday. The U.S. Court of Appeals for the Seventh Circuit, in turn, received and docketed the appeal and assigned No. 17-1880 to it.” |
| New filing in the Robinson case, click here to view. Peter Chapman writes, “Because Treasury’s lawyer, Mark Stern, will be on vacation from July 31 through Aug. 18, the government is asking the Sixth Circuit to schedule oral argument after Aug. 18.” |
| New filing in the Fairholme case, click here to view. Peter Chapman writes, “Judge Sweeny doesn’t want to hear anything more from Mr. Sammons in Fairholme v. U.S. or in any other case pending before the U.S. Court of Federal Claims, and she entered an order to that effect today.” |
| H.R. 1694 Legislation Passes And Can Be A Game Changer For Fannie And Freddie – Seeking Alpha |
| Freddie Mac Announces Release Date for First Quarter 2017 Financial Results – otcmarkets.com “Freddie Mac announced today that it plans to report its first quarter 2017 financial results before the U.S. financial markets open on Tuesday, May 2, 2017.” |
| Paulson Merger Arbitrage Fund Posts Loss… Again – Hopes For GSE Investments To Turn That Around – ValueWalk |
| Man Trump Named to Fix Mortgage Markets Figured in Infamous Financial Crisis Episode – Rolling Stone |
| Why Shoring Up Fannie and Freddie Would Hurt the Housing Market – The Daily Signal |
| As the Clock Ticks Down on the GSE ‘Capital Buffer,’ Successor Plans (and Critiques) Proliferate – Inside Mortgage Finance |
| Fannie Mae Monthly Summary March 2017 – fanniemae.com |
| Agency Updates; Another GSE Reform Plan; Bank M&A – Branches Still Popular – Mortgage News Daily There is a section titled ‘GSE Reform’. |
| Fed’s MBS Phaseout May Drive Up Rates – DS News |
| Fannie Investors Can’t Revive Suit Against Deloitte – law360.com Subscription required for full access. |
| GSE CRT value explored – Structured Credit Investor Subscription required for full access. |
| How President Trump Can End Obamacare With A Stroke Of A Pen – Infowars |
| Thursday April 27th 2017 |
| New filing in the Deloitte case, click here to view. Peter Chapman writes, “Judge Scola declined the Edwards Plaintiffs’ invitation to alter or amend his substitution ruling saying that FHFA stands in the Edwards Plaintiffs’ shoes with respect to their claims against Deloitte.” |
| Ep. 4 IU Member Michael Ciklin on Forensic Analysis of Conservatorship of GSEs – Investors Unite |
| Fannie and Freddie, Back in the Black – Bloomberg |
| The MBA’s Plan for GSE Reform – Unsolved Problems & a Dangerous Recipe – Scribd By Joshua Rosner |
| Is Housing finance reform the Trump administration’s next priority? – Fox Business video on Youtube |
| What will happen when the Fed starts unwinding its $1.75 trillion mortgage portfolio? – Urban Institute |
| It’s Been Eight-And-A-Half Years Since The Fannie/Freddie Bailout And We Still Have No Idea What’s Going To Happen To Them – DealBreaker |
| Hensarling says he shares Crapo’s optimism that Fannie/Freddie reform can be done this year… via @josephlawler – Twitter |
| HR 1694 $FNMA $FMCC Open Records Act passes. 425-0 via @investcorrectly – Twitter |
| Rep. Cook Votes to Make Fannie Mae and Freddie Mac More Transparent – highlandnews.net |
| Plaintiff Outlines Plan for Potential Fannie/Freddie Settlement – ctfn.news Subscription required for access, however you can request a trial. |
| Republicans increasingly optimistic about housing finance reform – American Banker Subscription required for access. |
| Hensarling to move Dodd-Frank replacement next week, eyes Fannie and Freddie – Washington Examiner |
| Wednesday April 26th 2017 |
| New filing in the Pagliara v. Fannie Mae case, click here to view. Peter Chapman writes, “FHFA and Fannie Mae filed their reply in support of their motion to dismiss or for substitution today, maintaining that Fannie Mae is not a Delaware corporation and the Delaware Chancery Court has no jurisdiction over Fannie Mae. FHFA and Fannie Mae say the District of Columbia is the only venue in which there is general jurisdiction over Fannie Mae, but that’s not really important because HERA says that FHFA now stands in Mr. Pagliara’s shoes.” |
| New filing in the Robinson case, click here to view. Peter Chapman writes, “Ms. Robinson filed her reply brief in the Sixth Circuit today. Ms. Robinson again urges the Sixth Circuit to adopt Judge Brown’s reasoning in her dissenting opinion in Perry v. Mnuchin, and looks to the Sixth Circuit to issue a ruling saying that the permissive language in sec. 4617(b) of HERA is more mandatory than FHFA and Treasury think and sec. 4617(f) of HERA is less of a sweeping ouster of the Judicial Branch than FHFA and Treasury want it to be. Ms. Robinson encourages the Sixth Circuit to rule in her favor and tell FHFA and Treasury that the Net Worth Sweep, while perhaps clever, is plainly wrong.” |
| Bloomberg: Watch Treasury Secretary Steven Mnuchin discusses tax reform – Periscope Mr. Mnuchin discusses the GSEs at 14:21. |
| Housing finance overhaul may be finally in the cards, Mnuchin says – MarketWatch |
| BankThink A GSE risk we can no longer ignore: Doing nothing – American Banker |
| Fannie And Freddie Have Huge Upside, Says Highly-Regarded Value Investor – Seeking Alpha |
| ICBA Vs. MBA Housing Reform Options For Fannie And Freddie – Seeking Alpha |
| Senate Banking Chair Crapo expects a GSE hearing next month… via @Zachary – Twitter |
| Is The MBA’s GSE Reform Proposal ‘The One’? – mortgageorb.com |
| NAHREP backs MBA on GSE reform recommendations – mpamag.com |
| Community bankers roll out alternate GSE plan – Scotsman Guide |
| Another Plan Emerges for Fannie/Freddie Reform – Mortgage News Daily |
| Short Takes: More GSE Reform Plans / Fannie-Freddie Speculators May Make Out After All… – Inside Mortgage Finance |
| H.R. 1694 – Fannie and Freddie Open Records Act of 2017 is being discussed on Thursday (or Friday) of this week – majorityleader.gov |
| A Legislative Proposal to Create Hope… from GOP Financial Services – Youtube Peter Wallison speaks about the GSEs around 34 minutes. |
| Rep. Gwen Moore (D-Wis.) says Fannie and Freddie were scammed into purchasing bad loans via @DoddFrankUpdate – Twitter |
| Tuesday April 25th 2017 |
| Narrowing the Differences – Howard on Mortgage Finance |
| ICBA White Paper Lays Out Principles for Housing-Finance Reform – icba.org |
| ICBA Principles for GSE Reform and a Way Forward – icba.org This is the ICBA White Paper on Housing Finance Reform. |
| Community Bankers Plan Offers Sound Roadmap for GSE Reform – Investors Unite |
| Community bankers call for Fannie, Freddie to be released from government – Washington Examiner |
| Community bankers: GSE reform should keep what works and just fix the problems – HousingWire |
| ICBA Calls for Delay of Single Security Until GSEs are Recapitalized and Released from Conservatorship – Inside Mortgage Finance |
| Fannie Mae close to launching larger student loan refi program: Sources – HousingWire |
| Housing Finance at a Glance April 2017 – urban.org |
| Tilson Q1 Letter: Fannie And Freddie “could appreciate 4-10 times” But Risks Remain High – Valuewalk |
| Monday April 24th 2017 |
| New filing in the Perry case, click here to view. Peter Chapman writes, “The D.C. Circuit granted Treasury’s request to file its response by June 2.” |
| Mortgage Bankers Plan is Too Complex, Too Reliant on Congress – Investors Unite |
| MBA Mortgage Plan Markup by Josh Rosner – files.acrobat.com |
| Investors Unite Criticizes Parts of MBA’s GSE Plan – Inside Mortgage Finance |
| When Will Fannie And Freddie Get Labeled As SIFIs? – Seeking Alpha |
| House committee considers bill to open records at Fannie Mae and Freddie Mac – HousingWire |
| Pershing Square European Investor Meeting Presentation – ValueWalk GSEs start on page 50. |
| The Many Facets Of Mae And Mac – Benzinga |
| The Fed has a problem after the biggest bond-buying binge in history – Business Insider |
| Mnuchin says Fannie-Freddie overhaul ‘very important’ – mpamag.com |
| MBA rolls out GSE reform plan – Scotsman Guide |
| Sunday April 23rd 2017 |
| Did Mnuchin Just Say Fannie? Buy, Buy – Seeking Alpha |
| Same-o, Same-o, MBA True Colors – Bill Maloni’s GSE Blog |
| Saturday April 22nd 2017 |
| New filing in the Perry case, click here to view. Peter Chapman writes, “With the consent of the Institutional and Class Plaintiffs, the government asks the D.C. Circuit to extend the deadline to respond to the rehearing petitions to June 2.” |
| It will take a recession to jumpstart GSE reform – Scotsman Guide |
| Press Briefing by Secretary of Treasury Steve Mnuchin on Financial Services Executive Order and Memoranda – whitehouse.gov Perform a word search for ‘GSE’ to find a GSE related question answered by Secretary Mnuchin. |
| Friday April 21st 2017 |
| New filing in the Pagliara v. Fannie Mae case, click here to view. |
| 2nd filing in the Pagliara v. Fannie Mae case, click here to view. Peter Chapman writes, “Mr. Pagliara delivered a corrected brief to the Delaware Chancery Court today. The corrected brief provides the Court with a better description of the procedural posture in Goldstein v. F.D.I.C., 2012 WL 1819284 (D. Md. May 16, 2012). That better description of the Goldstein case doesn’t alter Mr. Pagliara’s position in any way.” |
| Rafferty Capital’s Bove Notes ‘Potential Game Changer’ for Fannie Mae (FNMA) – Street Insider |
| Fannie-Freddie Overhaul Is ‘Very Important’ Goal, Mnuchin Says – Bloomberg |
| House Rules Cmte to Meet on Fannie, Freddie Open Records Bill via @pgray41 – Twitter |
| Veep Economist Calabria Hints at No Official Plan for Fannie/Freddie Yet – Inside Mortgage Finance |
| NAHREP stands behind Mortgage Banker Association proposition for GSE reform – HousingWire |
| Thursday April 20th 2017 |
| Creating a Sustainable, More Vibrant Secondary Mortgage Market – mba.org Link to the MBA GSE Reform Paper (direct download) |
| Housing reform group heads to Capitol Hill – CNBC Video Featuring David Stevens, President of the Mortgage Bankers Association |
| Now is the time — Make housing reform a priority – HousingWire Also by David Stevens |
| @JoshRosner says the MBA Mortgage’s GSE reform proposal doesn’t work – Twitter |
| Mortgage bankers launch new plan for reforming Fannie and Freddie – Washington Examiner |
| MBA to Congress: Here’s the roadmap you need to tackle GSE reform – HousingWire |
| Fannie-Freddie Plan Would Create Utilities, Add Competitors – Bloomberg |
| Does the MBA’s GSE reform plan finally address a key roadblock? – HousingWire |
| Fannie And Freddie Finally Wake Up – Seeking Alpha |
| Mnuchin says he’s ‘very focused’ on housing reform… via @SallyPancakes – Twitter |
| U.S. Fed buys $6.4 billion of mortgage bonds, sells $1 billion – Reuters |
| Morgan Stanley Treasurer Celeste Mellet Brown to Leave for Fannie Mae – WSJ Subscription required for full access. |
| Wednesday April 19th 2017 |
| New filing in the Pagliara v. Fannie Mae case, click here to view. Peter Chapman writes, ‘”There is no merit to any of Fannie Mae’s dismissal arguments,” Mr. Pagliara tells the Delaware Chancery Court in a brief filed today. Mr. Pagliara points out that Fannie Mae volunteered to be treated as a Delaware corporation in 2002 — way before conservatorship. Mr. Pagliara debunks the argument the argument that he’s attempting to “restrain or affect” FHFA’s powers as a conservator. Mr. Pagliara tells the Court his request is proper because he wants to obtain factual information solely in Fannie Mae’s possession about how the company in which he is a shareholder was raped and in order to have intelligent conversations with fellow shareholders about how to restructure Fannie Mae.’ |
| Filing in the Future Income Payments v. the CFPB case. Click here to view. This lawsuit does not involve the GSEs. However, I will post court filings related to the CFPB lawsuits. If a court finds that the CFPB is unconstitutionally structured because it is an independent agency headed by a single director, it could affect the structure of the FHFA. |
| GOP Senator Gets Rich Blocking Obamacare Repeals – Infowars |
| GSE Rehab: Rule Of Law Timeline Vs. Administrative Timeline – Seeking Alpha by Glen Bradford |
| Fannie And Freddie: An Unconstitutionally Structured FHFA And Voiding Net Worth Sweep – Seeking Alpha |
| Do Or Die Time For Freddie And Fannie Shareholders? – Seeking Alpha |
| Unfinished Business: Reform of Mortgage Market, Part II – LBM Journal |
| Putin Pins Housing Hopes on Mortgage Factory Modeled on U.S. – Bloomberg |
| GSEs ramp up risk sharing to mixed reviews – Scotsman Guide |
| 03/20/2017 – Moody’s Report: Reform of Fannie Mae and Freddie Mac Has Potential to Reshape US Mortgage Markets – Google Drive |
| Tuesday April 18th 2017 |
| New filing in the Perry case, click here to view. Peter Chapman writes, “The D.C. Circuit has directed Treasury, FHFA, Fanne and Freddie — if they want to — to file responses within the next 15 to the Institutional and Class Plaintiffs’ rehearing request on the limited topic about GSE shareholders’ expectations.” |
| 2nd filing in the Perry case, click here to view. Peter Chapman writes, “Prof. Macey’s counsel filed a notice withdrawing his appearance last week.” |
| GSE Reform: Looking At Sector-Specific Outcomes – Seeking Alpha |
| Short Takes: Randy Quarles, the Fed and the GSEs / What Role?… – Inside Mortgage Finance |
| Moody’s Plots Possible Path For GSE Reform – ValueWalk |
| Is the great Chinese Fannie and Freddie selloff finally over? – The Real Deal |
| Monday April 17th 2017 |
| New filings in the Jacobs and Hindes case, click here to view. Peter Chapman writes, “Treasury filed its motion to dismiss Messrs. Jacobs and Hindes’ amended complaint today. A copy of Treasury’s motion is (linked above) and, because voluminous exhibits are annexed, a copy of Treasury’s opening brief is posted at http://bankrupt.com/misc/15-00708-0066.pdf In addition to HERA’s purported obstacles to shareholder litigation, our government now raises a new sovereign immunity defense, and stakes out a position that Delaware and Virginia are inapplicable. Besides, Treasury tells Judge Sleet, Judges Lamberth and Reade have already published decisions in the government’s favor, so it would be much easier to place a rubber stamp on what they’ve decided.” |
| Additional filings in the Jacobs and Hindes case, click here to view. Peter Chapman writes, “FHFA, Fannie and Freddie filed their motion to dismiss Messrs. Jacobs and Hindes’ amended complaint today. A copy of FHFA, Fannie and Freddie’s motion is (linked above) and, because voluminous exhibits are annexed, a copy of their opening brief is posted at http://bankrupt.com/misc/15-00708-0068.pdf The trio stands on its tried and true arguments to date: HERA blocks shareholder litigation, FHFA stands in shareholders’ shoes, no conflict of interest exception exists, and federal law trumps any state law.” |
| Ruling On CFPB Could Upend Controversial Net Worth Sweep via @timpagliara – Twitter Originally posted on 4/14. However, now you can read the article without a subscription. |
| Trump picks housing finance reform advocate Scott Garrett to lead Ex-Im Bank – HousingWire |
| Fannie Mae Keeping Its Outlook Steady – The MReport |
| All GSEs; DJT, mostly, gets time off – Bill Maloni’s GSE Blog |
| Saturday April 15th 2017 |
| Going Concern Or Not Irrelevant To FHFA’s Nondelegation Doctrine Perspective – Seeking Alpha by Glen Bradford |
| Friday April 14th 2017 |
| New filing in the Fairholme case, click here to view. Peter Chapman writes, “Mr. Sammons resurfaced today, telling Judge Sweeney that she should allow him to file his amicus brief challenging the Court of Federal Claims’ constitutionality because that’s what, Mr. Sammons says, the Federal Circuit told Judge Sweeney to do.” |
| More Questions About Corker’s Obsession with Fannie and Freddie – Investors Unite |
| The Story Of Buffett, Munger and Freddie Mac – ValueWalk |
| Reorganizing the Executive Branch: We Need Your Input! – whitehouse.gov Send in your thoughts about the FHFA under the heading ‘SELECT OTHER AGENCIES, BOARDS AND COMMISSIONS’ |
| FHFA details progress in credit risk transfer program – doddfrankupdate.com |
| FSR Submits Letter to Senate Banking Committee Leadership Outlining Proposals to Spur Economic Growth – Press Release Point |
| Ruling On CFPB Could Upend Controversial Net Worth Sweep – law360.com Subscription required for full access. |
| 10/17/2015 – Corker says on CNBC to short GSE stock – iqmediacorp.com Start at 00:59. |
| Thursday April 13th 2017 |
| New filing in the Fairholme case, click here to view. Peter Chapman writes, “Judge Sweeney granted the government the 43-day extension it requested, and added some additional comments in her order (linked above) saying that she will also take a dim view of any further delay beyond the end of May.” |
| New filing in the Collins case, click here to view. Peter Chapman writes, ‘”A brief filed by another government agency in unrelated litigation in another court does not constitute authority,” FHFA tells Judge Atlas in a [myopic] Response filed this afternoon, adding that FHFA doesn’t see the inconsistency the Collins Plaintiffs see. I’m personally surprised by FHFA’s possible concession to GSE shareholders that there’s been no “adjudication of their rights” in extraordinarily vague language that would be incredibly hard to locate using any keyword search scheme appearing in the last sentence on page 2 of FHFA’s Response filed today.’ |
| New filings in the Saxton case. Entry of Appearance (Doc. 6) Entry of Appearance (Doc. 7) Entry of Appearance (Doc. 8) Entry of Appearance (Doc. 9) Entry of Appearance (Doc. 10) Entry of Appearance (Doc. 11) Entry of Appearance (Doc. 12) Appellants’ Statement of Issues (Doc. 13) Peter Chapman writes, “Chuck Cooper, David Thompson, Peter Patterson, and Brian Barnes at Cooper & Kirk entered their appearances (Docs. 6 though 9); Alexander Johnson at Brown Winnick entered his appearance (Doc. 10); Gerard Sinzdak at the DoJ entered his appearance (Doc. 11); and Dirk Phillips at Arnold & Porter entered his appearance (Doc. 12) in the Eighth Circuit this week. Additionally, the Saxton Plaintiffs files their Statement of Issues (Doc. 13) yesterday placing four questions before the Eighth Circuit for review.” |
| Obamacare Corruption: Senator Caught Shorting Stocks He Demonized – Infowars |
| Fannie Mae (FNMA) and Freddie Mac (FMCC): Don’t Sleep on Some of the Circuit Court Appeals – Invest Correctly |
| Investors Unite Podcast Ep. 3 R Street Institute Senior Fellow Alex Pollock on Housing Finance Reform – blogtalkradio.com |
| The 2008 Housing Crisis – Center for American Progress There is a section titled ‘Fannie Mae and Freddie Mac did not cause the crisis’ |
| Fannie Mae sells $1.62 billion in re-performing loans to Credit Suisse subsidiary – HousingWire |
| FHFA Reports Drops In Refinances – DS News |
| Wednesday April 12th 2017 |
| New filing in the Robinson case, click here to view. Peter Chapman writes, “Treasury filed its brief this afternoon in the Sixth Circuit opposing Ms. Robinson’s challenge of the Net Worth Sweep. Treasury points the Sixth Circuit panel to HERA’s anti-injunction and shareholder succession provision as reasons to reject Ms. Robinson’s appeal, and argues that Treasury did nothing improper when it entered into the Third Amendment.” |
| 2nd filing in the Robinson case, click here to view. Peter Chapman writes, “FHFA filed its brief this evening in the Sixth Circuit opposing Ms. Robinson’s challenge of the Net Worth Sweep. FHFA tells the Sixth Circuit stands on its tried and true “HERA says nobody can sue us” position, and is dismissive of Ms. Robinson’s other arguments. FHFA urges the Sixth Circuit to affirm Chief Judge Caldwell’s decision dismissing Ms. Robinson’s lawsuit.” |
| DeMarco Makes His Work for Too Big to Fail Banks Official – Investors Unite |
| Exclusive: Obamacare To Self-Destruct – If Trump Obeys Law – Infowars |
| Still a Better Deal: Selling ‘Conforming’ Jumbos to Fannie and Freddie. But for How Long? – Inside Mortgage Finance |
| Republicans propose drastic overhaul of Dodd-Frank and CFPB – HousingWire “The new CHOICE Act 2.0 cuts a lot of those proposed changes, and instead, the FHFA director would be removable at will by the president…” |
| NLIHC 2017 Advocates Guide – nlihc.org Housing Finance Reform is discussed on pages 99 and 100 (3-11 and 3-12). |
| Investment Banker Craig Phillips is Treasury’s ‘Point Person’ on GSE Reform – Inside Mortgage Finance |
| We’re Bullish on a Housing Recovery – Morningstar A brief GSE mention. |
| Trump About To Kneecap Obamacare Life Support? Threatens To Tomahawk Illegal GSE Sweeps – ZeroHedge |
| Tuesday April 11th 2017 |
| New filing in the Fairholme case, click here to view. |
| 2nd filing in the Fairholme case, click here to view. Peter Chapman writes, “The government wants 43 additional days to comply with Judge Sweeney’s instructions to turn documents improperly withheld over to Fairholme. The government says it’s reviewed nearly half of the documents in the past six weeks and will start releasing them to Fairholme on Apr. 14. Fairholme tells Judge Sweeney it doesn’t object to the 43-day extension, but would take a dim view of any delay beyond the end of May.” |
| ‘Net worth sweep’ and Obamacare’s endless bailouts – American Thinker |
| Fannie Mae (FNMA) and Freddie Mac (FMCC): Hindes and Jacobs Rests On One Paragraph of Delaware Law – Invest Correctly |
| NAR Supports Sanford/Sherman G-fee Bill – National Association of Realtors |
| Treasury Backs Away from Supporting Current FHFA Structure – Inside Mortgage Finance |
| Former Fannie, Freddie regulator Ed DeMarco named to industry group – Washington Examiner |
| President Can Remove Head Of Federal Housing Regulator Under New Draft Of Hensarling Bill-Document – ehoza.org |
| House GOP Dodd-Frank replacement expected this month – Washington Examiner “Under the updated legislation, the director of the Federal Housing Finance Agency also would be removable at the president’s will.” |
| Monday April 10th 2017 |
| New filing in the Collins case, click here to view. Peter Chapman writes, “The Collins Plaintiffs delivered a copy of a brief filed by the Department of Justice in Laccetti v. SEC, No. 16-1368 (D.C. Cir.), on Mar. 31, 2017, that they say directly contradicts FHFA’s position that says the Third Amendment would stand if FHFA were unconstitutionally organized. The Collins Plaintiffs tell Judge Atlas that the Department of Justice explains that while the agency action might not be immediately nullified, an unconstitutionally organized agency’s final decision would not be insulated from judicial review and should be reviewed by a validly constituted tribunal.” |
| Obamacare & GSEs- Key Players Trading Hats – Scribd By Josh Rosner |
| Shock: GOP Senator Behind Obamacare Looting Scheme – Infowars |
| Bad News/Good News for President Trump – Bill Maloni’s GSE Blog |
| If Perry Majority Is Correct, Then FHFA Director Watt Is King George, And Fannie Mae And Freddie Mac Shareholders Are Serfs – Seeking Alpha |
| Friday April 7th 2017 |
| The Man in Charge of Fixing Fannie and Freddie Knows Them All Too Well – NY Times By Gretchen Morgenson |
| Congress may have finally found a bipartisan fix to Fannie and Freddie – The Hill |
| Phony Obamacare Attack Aimed at Luring Conservatives to Support a Hedge Fund Windfall – Breitbart |
| @JoshRosner claims the Breitbart story is full of falsity & baseless claims – Twitter |
| What We’re Hearing: …When Fannie Mae Earned More Money than the Roman Empire – Inside Mortgage Finance |
| @DonaldJTrumpJr retweeted this tweet with video of Tucker Carlson and Josh Rosner – Twitter |
| Thursday April 6th 2017 |
| New filing in the Fairholme case, click here to view. |
| 2nd filing in the Fairholme case, click here to view. Peter Chapman writes, “Our government is resisting paying Fairholme’s expenses to prosecute its motion to compel. In a reply filed today, our government tells Judge Sweeney that withholding documents from Fairholme was substantially justified and the amount Fairholme seeks far exceeds the range of reason.” |
| New filing in the Robinson case, click here to view. Peter Chapman writes, “Mark Stern at the Dept. of Justice entered his appearance in the Robinson appeal pending in the Sixth Circuit on behalf of the Treasury Dept.” |
| New filing in the Saxton case, click here to view. |
| 2nd filing in the Saxton case, click here to view. Peter Chapman writes, “Abby Wright at the Dept. of Justice entered her appearance in the Saxton appeal pending in the Eighth Circuit on behalf of the Treasury Dept., Matthew McDermott at Belin McCormick entered his appearance as local counsel for FHFA.” |
| Why Fannie Mae, Freddie Mac Recapitalization Could Take Much Longer Than Expected – Benzinga |
| Access to Protected Information in Fairholme v. U.S. – glenbradford.com |
| Fannie/Freddie Securitizations Tumbled 27 Percent in 1Q17, but March Showed Promise – Inside Mortgage Finance |
| Trump Administration’s Housing Conundrum – collingwoodllc.com |
| Wednesday April 5th 2017 |
| New filings in the Saxton case. Peter Chapman writes, “The Eighth Circuit received the Saxton Plaintiffs’ appeal and the Clerk has assigned No. 17-1727 to the proceeding. The Clerk sent and instructional letter (Doc. 1) to the parties yesterday, docketed the record (Doc. 2) received from the District Court, and entered a scheduling order (Doc. 3) directing the parties’ attention to these outside briefing deadlines: May 24, 2017 — Saxton Plaintiffs to file Opening Brief; June 23, 2017 — FHFA and Treasury to file Opening Briefs; and July 7, 2017 — Saxton Plaintiffs to file Reply Brief.” |
| New filings in the Pagliara v. Fannie Mae case. Letter to the Court Exhibit 1 Exhibit 2 Peter Chapman writes, “Fannie Mae sent a letter to Vice Chancellor Tamika-Montgomery today taking issue with Mr. Pagliara’s descriptions and characterizations of prior proceedings and applicable law, and indicating that, if its motion to dismiss or substitute is denied, Fannie Mae intends to challenge the breadth of Mr. Pagliara’s inspection request. Copies of the documents delivered to Vice Chancellor Tamika-Montgomery today are (linked above).” |
| Additional filings in the Pagliara v. Fannie Mae case. Peter Chapman writes, “More documents were delivered to Vice Chancellor Tamika-Montgomery this afternoon: Doc. 39 — Jeffrey Kilduff’s motion to appear pro hac vice; Doc. 40 — Mr. Kilduff’s certification; . Doc. 41 — Mr. Kilduff’s proposed order; Doc. 42 — Michael Walsh’s motion to appear pro hac vice; Doc. 43 — Mr. Walsh’s certification; Doc. 44 — Mr. Walsh’s proposed order; Doc. 45 — A modified scheduling order directing that: * Mr. Pagliara must file his Answering Brief by Apr. 18; * Fannie Mae must file its Reply Brief by Apr. 26; and * the Court will hold a hearing at 10:00 a.m. on May 2 in Wilmington;” |
| Panel Explores New Credit Scoring Models – Mortgage News Daily |
| Tuesday April 4th 2017 |
| New filings in the Pagliara v. Fannie Mae case. Peter Chapman writes, “Mr. Pagliara delivered four documents to Vice Chancellor Montgomery-Reeves today: Doc. 32 — Mr. Pagliara’s opposition to delaying the May 1 trial date; Doc. 33 — copies of some e-mail correspondence among the lawyers; Doc. 34 — a proposed scheduling order maintaining the May 1 trial date; and Doc. 35 — a cover letter transmitting today’s filings to the Vice Chancellor’s chambers” |
| New filing in the Fairholme case (Sammons Appeal), click here to view. Peter Chapman writes, “The government opposes Mr. Sammons’ attempt to question the U.S. Court of Federal Claims’ constitutionally, and urges Judge Sweeney to reject Mr. Sammons’ renewed attempt to interject himself into this case.” |
| Ruling in Perry Capital Appeal Shackles Fannie Mae/Freddie Mac Shareholders – National Legal and Policy Center |
| Congress Still Won’t Stop Obamacare Looting Scheme – Infowars |
| Fannie Mae & Freddie Mac: Why FNMA Stock & FMCC Stock Are A Buy Right Now! – BNL Finance |
| Freddie Mac Prices Largest STACR Deal to Date – Market Wired |
| Josh Rosner discusses the GSEs on Tucker Carlson via @Pitty_M8kr – Twitter |
| Monday April 3rd 2017 |
| New filings in the Pagliara v. Fannie Mae case. Peter Chapman writes, “Fannie Mae and FHFA delivered nine documents to the Delaware Chancery Court today: Doc. 23 — Fannie Mae and FHFA’s Motion to Dismiss or Substitute; Doc. 24 — a proposed order granting the motion to dismiss or substitute; Doc. 25 — Fannie Mae and FHFA’s Brief in Support of their motion to dismiss or substitute, arguing that (i) Fannie Mae isn’t a Delaware corporation the Delaware courts have no jurisdiction, (ii) FHFA stands in Fanne Mae shareholders’ shoes, (iii) HERA blocks all litigation FHFA doesn’t like, and (iv) Mr. Pagliara hasn’t stated a proper purpose for the records he wants to see; Doc. 26 — a certificate of compliance with mechanical details; Doc. 27 — a certificate of service; Doc. 28 — a collection of documents in support of Fannie Mae and FHFA’s Brief; Doc. 29 — a motion asking the court to rule on Fannie Mae and FHFA’s motion to dismiss or substitute before convening a trial on May 1; Doc. 30 — a proposed scheduling order; and Doc. 31 — a cover letter to Vice Chancellor Montgomery-Reeves transmitting that half-inch stack of paper to his chambers.” |
| New filing in the Collins case, click here to view. Peter Chapman writes, “Judge Atlas entered an order this afternoon extending the deadline for the parties to submit a discovery and case management plan to June 12, and rescheduling the initial conference for 11:30 a.m. on June 19, 2017.” |
| 2nd filing in the Collins case, click here to view. Peter Chapman writes, “FHFA responded to the Collins Plaintiffs’ filing urging Judge Atlas to follow Judge Brown’s dissent in Perry v. Mnuchin. FHFA tells Judge Atlas she shouldn’t because Judge Brown misreads HERA. HERA, FHFA stresses, insulates FHFA from litigation it doesn’t like.” |
| 3rd filing in the Collins case, click here to view. Peter Chapman writes, “FHFA filed its reply in support of its cross-motion for summary judgment on the constitutionality of FHFA’s organizational structure. FHFA recycles its arguments that (A) even if the Collins Plaintiffs prevailed, the Net Worth Sweep would continue and (B) the Congress knew what it was doing and was acting properly when it organized FHFA under HERA.” |
| New filing in the Saxton case, click here to view. Peter Chapman writes, “The Saxton Plaintiffs filed their Notice of Appeal indicating their intention to ask the U.S. Court of Appeals of the Eighth Circuit to review Judge Reade’s decision dismissing their lawsuit.” |
| GSE Abuse and Presidential Agony – Bill Maloni’s GSE Blog |
| Short Takes: Fixing the GSEs: A Slam Dunk? / ‘Abundant’ Bipartisan Agreement? Huh? / How Rep. Jeb Gets There… – Inside Mortgage Finance |
| What’s next for U.S. housing finance? – rstreet.org |
| Daily Treasury Statement – fms.treas.gov The GSE dividend payment is shown. |
| Q&A With MBA’s David Stevens – GoRion |
| Sunday April 2nd 2017 |
| Obamacare Implosion Now? Since Obama Siphoned GSE Dividends To Prop Up, Can Trump Simply Halt 1st Qtr Sweep? – ibankcoin.com |
| Saturday April 1st 2017 |
| Kudlow: Trump and Congress need a win – and they can get it by cutting corporate taxes – CNBC “No new Fannie Mae or Freddie Mac. No government directors. Keep it all in the private sector.” |