Fannie Mae Preferred S (FNMAS)

[NewJerichoMan]

More Fannie, Freddie disclosures possible after U.S. court ruling

A new federal appeals court decision could clear the way for the U.S. government to turn over many documents sought by investors suing over its 2012 decision to seize the profits of mortgage giants Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK).

The Federal Circuit Court of Appeals on Monday said a lower court judge mostly acted within her discretion in ordering the disclosure to Fairholme Funds and other investors of 56 documents, which had been sampled from roughly 12,000 that the government withheld on privilege grounds.

Writing for a three-judge panel, Circuit Judge Kathleen O'Malley said eight of the documents could be withheld on the basis of either presidential privilege, or privilege of the deliberative process.

http://www.reuters.com/article/us-fanniemae-freddiemac-lawsuit-idUSKBN15E2AS


56 subsets of documents, 48 just got freed (potentially), pending US's appeal, if there is one.