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Federal Nationalized Mortgage Association...
Let's just hope that the USA doesn't become the United Socialists of America...
PRESS RELEASES
Secretary of the Treasury Yellen, Attorney General Garland and Secretary of the Department of Housing and Urban Development Fudge Sent Letter to Governors, Mayors and State Courts Urging Use of Emergency Rental Assistance Over Eviction
August 27, 2021
WASHINGTON — Today, U.S. Secretary of the Treasury Janet L. Yellen, Attorney General of the U.S. Department of Justice Merrick B. Garland, and Secretary of the Department of Housing and Urban Development Marcia L. Fudge sent a letter to state and local government leaders addressing the eviction moratorium.
We are urging you to exercise your own authorities-as states, cities, and counties representing millions of Americans already have-to take action to prevent unnecessary evictions, including:
Enacting state and local eviction moratoriums during the remainder of the public health emergency. Six states and the District of Columbia already have eviction moratoriums in place. As the President called for, we are encouraging all other state and local governments to use their legal authorities to appropriately put in place or extend their own eviction moratoriums.
Working with state and local courts to require landlords to apply for ERA before they commence eviction proceedings. State and local governments or courts should ensure that all tenants have the opportunity to apply for rental assistance before any proceedings begin, and landlords seeking eviction should be required to apply for rental assistance first-a policy already implemented in some states and localities.
Staying eviction proceedings while an ERA application is pending. By taking this step, as some states and localities already have, courts can ensure that tenants have a fair opportunity to apply for federal aid and that unnecessary evictions are avoided. While we call on courts to stay eviction proceedings, state and local governments must also speed the delivery of rental assistance to meet courts' deadlines.
Using ERA and American Rescue Plan State and Local Fiscal Recovery Funds to support the right to counsel and eviction diversion strategies.
Tenants are more likely to avoid eviction and remain stably housed when they have access to legal representation. Legal counsel can also aid in the successful completion of ERA applications. We encourage state and local governments to use ERA and Fiscal Recovery Funds to launch right to counsel programs and invest in court navigators and diversion programs.
Helping tenants navigate the ERA application process. The Treasury Department has issued recent guidance streamlining the ERA application process, for example, by making clear that grantees can rely on self-attestation from tenants for certain eligibility requirements. State and local governments can continue to build on these efforts by removing unnecessary barriers to ERA funds."
https://nypost.com/2021/08/30/ny-landlords-threaten-to-sue-if-eviction-moratorium-extends/amp/
"these bans are unconstitutional and unlawfully place enormous burdens on property owners,”
"OTDA has been roundly criticized for slow rolling the program, opening program applications at the beginning of June for struggling tenants and landlords months after the money was allocated."
https://home.treasury.gov/news/press-releases/jy0336
"Our bottom line is this: No one should be evicted before they have the chance to apply for rental assistance, and no eviction should move forward until that application has been processed."
I like your attitude! I think the Lamberth case is going to trial, it's for breach of implied contract, the takings case also sounds promising. Collins is in the right Circuit for a possible ruling against the gubmint.
One of our fundamental problems in all these cases is (1) We are asking for something that is a big swallow and (2) Federal judges so far have had an "The King can do no wrong" attitude about their Paymasters (i.e., Uncle Suggy)...
The landlord has to agree not to evict in the future for non-payment of the rent as well as a myriad of other strings attached. I understand the life threatening conditions posed by the pandemic. The next time you rent out one of your properties don't forget to price in the risk of Eviction moratoriums as well as the risk that the take it or leave it offer from the federal government may not cover your losses.
What do you think that will do to hard working struggling American renters with less than stellar credit the next time they plan a move?
Federal government provided housing...
CCP = Chinese Communist Party
In their 10Q's the twins list delinquent mortgages by FICO score and LTVs
https://news.yahoo.com/americans-are-stuck-in-housing-limbo-173106061.html
This is EXACTLY WHY YOU DON'T NATIONALIZE PRIVATE CORPORATIONS AND STICK LANDLORDS WITH UP TO 2 YEARS OF UNPAID RENT!
The CCP is currently in anti-capitalist mode cracking down on free enterprise, JUST LIKE GOOD COMMUNISTS ARE SUPPOSE TO DO!
The US Government is making the CCP look bad as the CCP hasn't started NATIONALIZING ITS PRIVATE CORPORATIONS YET!
I guess it's just a matter of time. ...
Low FICOS and high LTVS WOULD BE A DISASTER FOR THE TWINS!
Our 5th Amendment rights have been wiped out, let's hope our 1st Amendment rights AREN'T NEXT!
When I worked for one of the twins back in the day, THEY WERE CONSISTENTLY THE TOP PRIVATE CORPORATE DONORS TO TONS OF CHARITIES!
They use to let me work 10 hours a month for any nonprofit I wanted to during work hours!
Well said GB: "This is effectively a tax on middle class home ownership. The only difference is that Fannie and Freddie are not officially government agencies. You can buy stock in them and you cannot do that for a government agency."
I sent Senator Mark Warner an email opposing this 10 YEAR TAX ON MIDDLE AMERICAN HOMEOWNERSHIP, unsurprisingly his staff NEVER RESPONDED!
Maybe I should protest in front of his million dollar townhouse in Alexandria, VA WEARING A FANNIEGATE SHIRT AND A PLACARD!
Just sounds like it's more discretionary than mandatory. Also that was the old sheriffs, there's a new pair of sheriffs in town and they haven't even picked their new office decorating yet...
Does the 4th Amendment mandate it or is it discretionary?
A perpetual option for under a buck, hmmm!
"House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) said she's working on a proposal focused on speeding up implementation of the rental assistance program, given that Congress doesn't have the votes to pass a moratorium extension.
"We are all well aware of just how critical it is to ensure that families and children across this country remain safely housed with a roof over their heads," Waters said in a statement Thursday after the court ruling. "As Congress moves forward to address this issue, I urge each of my colleagues to support my legislation and do the right thing to avoid an unnecessary public health and housing catastrophe."
https://thehill.com/policy/finance/housing/569811-eviction-ruling-puts-new-pressure-on-congress
"It would be one thing if Congress had specifically author-
ized the action that the CDC has taken. But that has not
happened. Instead, the CDC has imposed a nationwide
moratorium on evictions in reliance on a decades-old stat-
ute that authorizes it to implement measures like fumiga-
tion and pest extermination"
"Indeed, the Government’s read of §361(a) would give the
CDC a breathtaking amount of authority. It is hard to see
what measures this interpretation would place outside the
CDC’s reach, and the Government has identified no limit in
§361(a) beyond the requirement that the CDC deem a measure “necessary.” 42 U. S. C. §264(a); 42 CFR §70.2.
Could the CDC, for example, mandate free grocery delivery
to the homes of the sick or vulnerable? Require manufac-
turers to provide free computers to enable people to work
from home? Order telecommunications companies to pro-
vide free high-speed Internet service to facilitate remote
work?"
"This claim of expansive authority under §361(a) is un-
precedented. Since that provision’s enactment in 1944, no
regulation premised on it has even begun to approach the
size or scope of the eviction moratorium. And it is further
amplified by the CDC’s decision to impose criminal penal-
ties of up to a $250,000 fine and one year in jail on those
who violate the moratorium. See 86 Fed. Reg. 43252; 42
CFR §70.18(a). Section 361(a) is a wafer-thin reed on which
to rest such sweeping power."
"The equities do not justify depriving the applicants of the
District Court’s judgment in their favor. The moratorium
has put the applicants, along with millions of landlords
across the country, at risk of irreparable harm by depriving
them of rent payments with no guarantee of eventual recov-
ery. Despite the CDC’s determination that landlords
should bear a significant financial cost of the pandemic,
many landlords have modest means. And preventing them
from evicting tenants who breach their leases intrudes on
one of the most fundamental elements of property owner-
ship—the right to exclude. See Loretto v. Teleprompter
Manhattan CATV Corp., 458 U. S. 419, 435 (1982)."
"The stock agreements have always prohibited paying
down the liquidation preferences “[p]rior to termination of the [Treasury]
Commitment.” ROA.240, 249-50."
The CONCRETE LIFE PRESERVER, A DOUBLE DIGIT CREDIT CARD THAT YOU CAN NEVER PAY DOWN THE UNPAID BALANCE!!
The government's conduct here with the nws and death spiral narrative and 13 year conservatorship is OVER THE TOP!
Greed and retribution by Uncle Suggy replaced conserve and preserve.
The executive branch decided unilaterally via James Lockhart and UST to salt the Earth with their carcasses, take their profits into perpetuity, and use "replace the flawed housing finance system" as cover...
I think you need a PACER account...
https://pacer.uscourts.gov/
Power corrupts absolutely!
Good point, I don't see any legs on that one either and I can't recall whether or not Hashim Moopan tried to sell the death spiral narrative to the 9 Supremes.
At best a future US Attorney who actually understands the facts behind the nws may tell his boss that ethically he can't certify the argument in good faith.
I'm sure that the gubmint will find an attorney that will though.
There was an article written some time ago referencing this problem of gubmint attorneys certifying the death spiral as the reason for the nws. I read the letter in todays WSJ and remembered how a full blown article was done on this some time ago and thought I would share it with others on the board...
Many federal judges WERE former US Attorneys and will be sympathetic to protecting their own by simply ruling against the evil hedge fund guys/evil banksters in preliminary motions BEFORE A TRIAL EXPOSES THE BS NATURE OF THE DEATH SPIRAL NARRATIVE!
You should embrace this argument to perpetuate your long standing views...
I thought you would have sold your "free lottery tickets" by now, what's holding you back, OPTIMISM !
That the US Attorneys and hired legal counsel would argue that the reason for the nws was to prevent a death spiral IN DIRECT CONTRADICTION OF THE EVIDENCE RELEASED MADE PUBLIC YEARS AGO could be a discipline problem for these licensed attorneys.
This is from todays WSJ:
"I was struck by the blatant noncompliance by government lawyers with the strict ethical rules that bind members of our profession. This includes Attorney General Merrick Garland.
Rule 3.1 of the American Bar Association's Model Rules of Professional Conduct prohibits lawyers from bringing or defending a proceeding unless there is a basis in law or fact for doing so. Rule 11 of the Federal Rules of Civil Procedure states that by signing or submitting a pleading, an attorney certifies that it is not presented for any improper purpose, such as to "cause unnecessary delay." Rule 11 also provides a process for sanctioning violators.
President Biden (Mr. Garland's client) publicly stated he and his staff were "unable to find the legal authority" for the executive order despite checking multiple times. He also admitted he couldn't in good faith defend the order. But, the president said, "by the time it gets litigated, it will probably give additional time" for him to enforce his illegal order.
Ordinary practicing attorneys would be in grave danger of sanctions for filing a pleading knowingly unsupported by law or fact, and by admittedly filing the pleading for the purpose of delay. The U.S. attorney general should be no exception. In fact, those in power should be held to a stricter standard.
Wayne Detring
Franklin, Tenn."
This is a case ROLG found in the Delaware Chancery court that is relevant to the Lamberth case: "The law presumes that parties never accept the risk that their counterparties will exercise their contractual discretion in bad faith."
Did any long term holders really expect a conservator to salt the Earth with the carcasses of their conservatees?
Amirsaleh v. Bd. of Trade of N.Y.C., Inc., 2008 WL 4182998, at *1 (Del. Ch. Sept. 11, 2008) (Chandler, C.)
Each legal theory to describe the gubmint theft has separate elements that the Plaintiffs must prove by a preponderance of the evidence.
I'm just glad ROLG and others are sharing their latest thoughts on the posture of these cases.
One problem we have been having in court is the extraordinary deference the judges have given to Uncle Suggy, the judges are practically falling all over themselves saying, "The King can CAN DO NO WRONG!"
Unbelievably the SCOTUS just said it was okay for the government conservator to salt the earth with the carcasses of the conservatees...
Only in Amerika my friend !
Thanks Guido! And I appreciate your accounting insights over the years and your great Twitter finds as well! Keep up the great work!
Governments Response in Eviction moratorium at SCOTUS:
"The CDC has the
statutory authority to halt evictions to prevent the spread of
communicable disease; Congress has confirmed and relied on that
understanding; and the equities weigh even more strongly in favor
of allowing the moratorium to remain in place today than they did
when this Court last acted. The Court should therefore once again
deny the application to vacate the stay."
"First,
evicted renters could readily transmit COVID-19 when they “move in
with friends or family” or move to “congregate settings” such as
“transitional housing” and “domestic violence and abuse shelters.”
Ibid. Second, evicted individuals often become homeless, and
homelessness could “contribute to the further spread of COVID-19”
given “inadequate access to hygiene, sanitation facilities, health
care, and therapeutics.” Id. at 55,295. Finally, because “[t]he
virus * * * spreads very easily” and “[a]pproximately 15% of
moves [that occur each year] are interstate,” “mass evictions would
likely increase the interstate spread of COVID-19.” Id. at 55,293,
55,295."
Just in: The Biden administration has filed its response in the latest case at SCOTUS challenging the federal eviction moratorium. The administration emphasizes that the pandemic has grown much worse since the last time the justices considered the moratorium two months ago. pic.twitter.com/4b6rEg3wJP
— SCOTUSblog (@SCOTUSblog) August 23, 2021
You would think the WSJ would be all over this injustice! They own Realtor.com (https://en.m.wikipedia.org/wiki/Realtor.com) and are all over the Injustice of the Eviction moratorium and the waiver of pharmas intellectual property rights with the vaccine.
But the owner of Fox, realtor.com and the WSJ seem more interested in the advertising dollars from the TBTF banks than the largest heist by the government ever!
This guy's the victim of the government's promises as well, what did Lockhart tell us shortly after the takeover?
Painful to see. In a desperate attempt to leave Afghanistan, 3 Afghans held onto the wheels of a departing U.S. Air Force C-17. Needless to say, they fell to their deaths when the plane took off. @akhbar https://t.co/TfnVGiGXkT
— Jenan Moussa (@jenanmoussa) August 16, 2021
The Judicial Branch of government has given so much deference to both the Legislative and Executive branches, that it seems we are left with 2 branches of government instead of 3...
Nice comments. One possibility of seeing any recovery from Collins in the Fifth Circuit would be if the court were to require that the government has the burden of proof to demonstrate that the Plaintiffs were not financially harmed by the unconstitionally insulated FHFA Director....
I hear you, ESPECIALLY AFTER COLLINS! Standard operating procedure and the MODUS OPERANDI OF THE SCOTUS IS TO LET THE EXECUTIVE AND LEGISLATIVE BRANCHES DO WHATEVER THEY PLEASE...
How did America's third branch become so powerless?