Plaintiffs in a New York class-action say Fannie and four other defendants systematically overcalculate the interest charged to borrowers during foreclosure proceedings.
Even if lawmakers can’t agree on how or whether to release the GSEs from conservatorship, there are incremental steps they can take, according to former FHFA Director Mark Calabria.
Freddie Mac failed to win a complete summary judgment against an insurer who declined to pay claims related to a 2008 SEC investigation. The judge’s ruling makes it more likely the case goes to trial and discovery.
AXIS Insurance became the second entity to settle in a Freddie lawsuit alleging that some D&O insurance providers refused to properly reimburse the GSE for legal expenses incurred during the 2008 crisis.
Although a Republican victory in November might revive efforts to release the GSEs from conservatorship, this would likely be a multi-year effort, according to the former FHFA director.
Housing finance aficionados may doubt Fannie and Freddie will ever exit conservatorship, but that doesn’t stop them from telling you what that exit would look like.
Despite the added cost and delay, Hamish Hume said it was advantageous for the plaintiffs’ team to have to hold a second trial after the first one ended in a hung jury.
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