The lawsuit brought by fair housing organizations focused on Fannie Mae’s maintenance and marketing of its real estate-owned properties, that is, homes acquired through foreclosure.
Biden’s FHFA nominee Sandra Thompson has made it clear that the agency can’t end the conservatorships without help from the Departments of Treasury and Justice and, most importantly, Congress itself.
Plaintiffs in Collins v. Yellen promptly informed the Fifth Circuit Court of Appeals of the former president’s recent letter to Sen. Rand Paul, R-KY, possibly forestalling a decision by the court.
Even though the Supreme Court issued its decision in the Collins case two months ago, lawyers for both the shareholders and the government prepare to make many of the same arguments again before the Fifth Circuit.
Changes to Fannie’s loan agreements allow the company to more closely monitor compliance with OFAC rules and anti-money laundering and anti-corruption statutes.
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