Fannie Mae and Freddie Mac revenues ticked up in the third quarter, but an increase in net expenses cut into profits. Those expenses included damages and interest awarded to shareholders in Fairholme v. FHFA. (Includes data table.)

The GSEs’ shareholders racked up one win and one loss last week in their legal battle to overturn the net worth sweep.

Documents show FHFA entered into 36 settlement agreements between January 2019 and September 2021 to resolve employee disputes.

Even after a big win in a district court in August, Fannie Mae and Freddie Mac shareholders continue to face setbacks in other legal venues.

Key flubs by defense witnesses may have convinced the jury that the Treasury Department and FHFA had ulterior motives when they agreed to the net worth sweep.

The conservator of Fannie and Freddie argued that the testimonies of two former FHFA directors were irrelevant because they were not at the agency when the Treasury Department agreed to the net worth sweep.

Lenders have chafed at the temporary regulations put in place following the collapse of a Surfside, FL, condo in 2021, but those rules become permanent in September.

Three providers of D&O insurance refuse to pay legal costs associated with a financial crisis-era SEC investigation into Freddie underwriting and risk-management controls for troubled MBS.

By declining to hear the case of Rop v. FHFA, the Supreme Court effectively shut down shareholder hopes of ending the net worth sweep based on the constitutionality of the appointment of FHFA’s director.

Plaintiffs claim former FHFA Director Mel Watt “thwarted” former President Trump’s plan to end the net worth sweep. The government says, “What plan?”