May 2018
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April 2018
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March 2018
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February 2018
| Wednesday February 28th 2018 |
| A new lawsuit has been filed. Owl Creek v. U.S., click here to view. Peter Chapman writes, “Owl Creek filed a lawsuit against the government in the U.S. Court of Federal Claims late last week. Owl Creek is represented by a team of corporate restructuring lawyers led by Bruce Bennett at Jones Day. Owl Creek owned approximately $2 billion of junior preferred stock in the GSEs acquired post-conservatorship and prior to imposition of the Net Worth Sweep. Count III of the complaint, at pp. 43-44, says HERA’s succession clause imposed duties on the government to honor the GSEs’ contracts and look out for non-controlling shareholders’ interests, and the government breached those duties. Count IV of the Complaint, at pp. 44-47, says the government breached its implied-in-fact contract with Owl Creek and other junior preferred shareholders.” |
| Peter Chapman further writes, “Owl Creeks’ team of lawyers at Jones Day has requested access to non-public discovery materials, and an updated chart showing who has access to those materials is (linked here).” |
| New note in the Collins case. Peter Chapman writes, “Chief Judge Stewart and Judges Haynes and Willett are the three-judge panel who will hear argument in the Collins case before the Fifth Circuit one week from today in Fort Worth. See http://www.ca5.uscourts.gov/clerk/calendar/1803/27.cthse.htm |
| “ICBA’s @HaynieRon on GSE reform: There are modifications and reforms that need to happen…” via @ICBA – Twitter |
| Get the Housing Industry Out of the U.S. Tax Code – Bloomberg View The GSEs are not mentioned. |
| End of Watt’s Term as FHFA Director Seen as Leverage for Republicans in Congress – Inside Mortgage Finance |
| Freddie Mac Portfolio Up $2.4 Billion – The MReport |
| Fannie & Freddie Bailout Request Highlights Need for Housing Finance Reform – atr.org From February 19th. |
| Tuesday February 27th 2018 |
| New |
January 2018
| Wednesday January 31st 2018 |
| Redline Comments On Bob Corker’s GSE Bill Draft 29 – Scribd By Josh Rosner |
| Corker’s GSE Bill Raises a Host of Questions. Five or Six MBS Guarantors Need to be Up and Running For it to Work – Inside Mortgage Finance |
| “Elizabeth Warren throwing some pretty cold water on the draft Corker-Warner housing overhaul…” via @peteschroeder – Twitter |
| Housing Policy Didn’t Cause the 2007 Crash – The Wall Street Journal Subscription required for access. |
| Tim Howard comments on the Corker/Mnuchin meeting – Howard on Mortgage Finance |
| Tim Howard comments on the Draft of C-W 2.0 – Howard on Mortage Finance |
| Blog: Treasury’s Mnuchin talks GSE reform – Scotsman Guide |
| Trump speech bodes ill for banks’ D.C. priorities – American Banker |
| Mayor, Senator…Now What? – chattanoogapulse.com |
| Milken Institute White Paper: GSE duopoly must end, enabling new firms to compete with Fannie Mae (or any successors) – ValueWalk |
| Tuesday January 30th 2018 |
| New filing in the Cacciapalle case (U.S. Supreme Court), click here to view. Peter Chapman writes, “The Class Plaintiffs delivered a reply brief to the High Court today reminding the Justices that there is a split of authority among the Circuit Courts of Appeal that requires resolution.” |
| New filing in the Fairholme case (U.S. Supreme Court), click here to view. Peter Chapman writes, “Fairholme delivered a reply brief to the U.S. Supreme Court today urging the Justices to accept its appeal for review and rein in the unlimited power FHFA thinks it has under HERA.” |
| New filing in the Perry case (U.S. Supreme Court), click here to view. Peter Chapman writes, “Perry Capital delivered a reply brief to the High Court today. Perry tells the Justices that review is warranted to halt the “lawless government overreach” exemplified by the Net Worth Sweep and to prevent the |
December 2017
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November 2017
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October 2017
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September 2017
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August 2017
| Thursday August 31st 2017 |
| Fannie Mae Monthly Summary July 2017 – fanniemae.com |
| When the federal government took over Fannie Mae and Freddie Mac – The Washington Post |
| Wednesday August 30th 2017 |
| New filing in the Fairholme case, click here to view. Peter Chapman writes, “Caroline J. Anderson entered her appearance in the District Court on behalf of Treasury in Fairholme v. FHFA this morning.” |
| 2nd filing in the Fairholme case, click here to view. Peter Chapman writes, “Joel McElvain has withdrawn his appearance on behalf of Treasury in this matter.” |
| New filing in the Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations, click here to view. Peter Chapman writes, “Caroline Anderson, representing Treasury, entered her appearance in the consolidated class action proceeding this afternoon.” |
| New filing in the Arrowood case, click here to view. Peter Chapman writes, “Caroline Anderson, representing Treasury, entered her appearance in Arrowood v. Fannie Mae this afternoon.” |
| 2nd filing in the Arrowood case, click here to view. Peter Chapman writes, “Joel McElvain has withdrawn his appearance on behalf of Treasury in this matter.” |
| New filing in the Perry case, click here to view. Peter Chapman writes, “Joel McElvain has withdrawn his appearance on behalf of Treasury in this matter.” |
| Fannie and Freddie say appraisals are not always necessary – The Washington Post |
| For Sale: Freddie’s Largest RPLs – DS News |
| Tuesday August 29th 2017 |
| New filings in the Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations Notice of Appearance Notice of Appearance Notice of Appearance Peter Chapman writes, “Stacey Grigsby, Jonathan Shaw and Alexander Platt at Boies Schiller Flexner entered their appearances today in the consolidated class action proceeding before Judge Lamberth on behalf of Joseph Cacciapelle.” |
| New filing in the Rop case, click here to view. Peter Chapman writes, |