GSE shareholders tried to make the case that Ed DeMarco, the acting director of the Federal Housing Finance Agency at the time of the net worth sweep, was an extra-constitutional director because his three-year acting directorship lasted too long.
All House Republicans and 14 House Democrats voted to undo FHFA’s revision of GSE loan-level pricing adjustments. The bill would also require future changes to the grids to follow risk-based pricing.
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.
Changes to the models Fannie Mae uses for its Dodd-Frank Act stress tests increased the enterprise’s projected profits over the nine-quarter test period by $3.7 billion.
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.