Fannie Mae (FNMA)

[obiterdictum]

Risks in this move would be federal judge does not accept to hand the questions upward.

The request is well within requirements for certification for sending and receiving. If the questions are not to be certified, the reason or reasons for that will be given by the federal judge. In examination of the reasons given, evidence and understanding of the judge's neutrality will become readily apparent.

Or, if yes, the state supreme courts strikes them down, and that would be that.

Yes.

So both VA and DE courts have to decide?

If both VA and DE high courts accept, each Supreme Court will decide answers to the questions. However, if one court accepts certification and the other does not, then only one applicable decision would be made.

and if/could they disagree on interpretation?

Upon acceptance, there is a possibility of the answers coming from the two courts being:

Yes, Yes
Yes, No
No, No.

The statistical likelihood of each that would include all factors necessary (state judges and their predispositions, previous cases, previous federal certifications, etc.) is unknown here, so nothing intelligible can be said. The Plaintiffs' attorney would have a much better idea of this.

And then there's the old 'But HERA says we can do whatever we want' number.

HERA 2008 provides that the FHFA can be subject to suit. The interpretation that HERA 2008 allows unrestricted administrative and financial behavior is merely an interpretation that has many counter interpretations. The cases will not be decided by an interpretation of HERA 2008, legal precedent, and court and judicial rules. The cases also will be decided in conjunction with the convincing presentation of factual evidence.