On the issue of FHFA’s constitutionality, the court ruled for the plaintiffs. But rather than invalidate the net worth sweep, the court struck the “for-cause” provision from HERA.
Last summer’s blockbuster ruling from the Court of Appeals was a mixed bag for both plaintiffs and defendants. The long-expected appeal of that decision promises more of the same.
Director Mark Calabria’s decision to reverse former acting Director Joseph Otting’s reversal of a Mel Watt-era decision to defend the constitutionality of the FHFA structure catches GSE observers by surprise.
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