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.

The high court decision could impact how other independent federal agencies — such as the Federal Housing Finance Agency — operate.

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.

In each case, Chief Judge Margaret Sweeney’s decision hinged on whether the plaintiffs were pursuing direct or derivative claims.

Ronald McCord, the former president of First Mortgage, faces 24 counts of bank fraud, money laundering and making a false statement.

Industry stakeholders believe this is a sign the GSEs are on track to undergo their long-expected public offerings.

A Florida lawyer is charged with swindling distressed borrowers out of their homes, and then filing fraudulent bankruptcy petitions to prevent the GSEs from executing lawful foreclosures.

In two separate cases filed by GSE shareholders against the government, the Court of Federal Claims meted out different results.

Milbank has won a one-year, $3 million contract from the FHFA to provide legal services related to ending the conservatorships.