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Volume 14 - Number 3

February 7, 2014

Fourth Circuit Rejects Maryland County’s GSE Tax Collection Effort

A three-judge panel of the Fourth Circuit Court of Appeals last week upheld a lower court ruling against Montgomery County, MD’s bid to collect real estate transfer taxes from Fannie Mae and Freddie Mac. The court rejected the plaintiff’s contention that the GSEs’ property sales were local in nature and outside Congress’ authority under the Commerce Clause of the U.S. Constitution.

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

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Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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