Shareholders are appealing a federal judge’s decision last week to toss out their legal challenge to the federal government’s siphoning off of Fannie Mae and Freddie Mac profits, and a legal expert says they could be helped out by what comes out in discovery in other investor lawsuits. Speaking during a conference call sponsored by Investors Unite, New York School of Law Professor Richard Epstein – who does not own stock in the government-sponsored enterprises – blasted the “misguided” ruling by Judge Royce Lamberth of the U.S. District Court for the District of Columbia. He characterized it as an overly generous interpretation of the Housing and Economic Recovery Act of 2008 in favor of the Treasury Department and the Federal Housing Finance Agency. “Although the government claimed to be looking out for the shareholders, it ended up...

One GSE source close to the CSP project noted that Yanoti was one of the platform’s “leaders,” but cautioned that “there are others as well.”

Affordable housing advocates are continuing their full-court press against the head of the Federal Housing Finance Agency, demanding that the FHFA greenlight financing for the dormant National Housing Trust Fund after a setback in federal court. U.S. District Court Judge Marcia Cooke of the Southern District of Florida last week dismissed a lawsuit brought by the National Low Income Housing Coalition on the grounds that the NLIHC lacks standing to sue the FHFA. Cooke also found that the court does not have jurisdiction over the decisions of the agency. The coalition filed...

Is it that the FHFA doesn't want to take a stand on g-fees because it fears alienating the industry?

New York Law School professor Richard Epstein took issue with Judge Lamberth’s ruling that HERA doesn’t take away any “cognizable property rights.”

Are Fannie Mae and Freddie Mac executives just wage slaves? And is there something wrong with that?

In other servicing-related auctions, The Prestwick Group is working on three bulk deals and three flow transactions.

Quick question: What’s the difference between student loan debt and mortgage debt? One is impossible to extinguish by going through bankruptcy.

IMT also found that in 3Q, seven of the top 15 sellers to Fannie and Freddie were nonbanks.

Among our findings, a few things stand out, including the ascension of PennyMac to the number two position among Ginnie Mae issuers.