Housing-finance watchers are gearing up for December when the Supreme Court will hear oral arguments challenging the government’s net worth sweep of Fannie Mae and Freddie Mac profits.
The Supreme Court is likely to give the president the power to replace the FHFA director for any reason, much like it did in the Seila Law v. CFPB case, according to Cowen analyst Jaret Seiberg.
Time is of the essence if FHFA Director Mark Calabria wants Fannie and Freddie irrevocably out of conservatorship before a possible change in administrations in November.
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