Fannie Mae-No Politics (FNMA)

[rosen62]

delaware law is moot because HERA supercedes

HERA expressly preserved FF as private companies, shareholders owned.

HERA did not change the corporations' governing Delaware/Virginia laws.

HERA only transferred the authority to use those powers already in existence from the corps to the FHFA as conservator.

HERA does supersede. But HERA points to Fannie Mae and Freddie Mac certificates of designations whereby they have chosen to be governed by Delaware and Virginia law respectively.

So HERA points to State Law for the purpose of the internal affairs of both companies.

When Fannie and Freddie enter into a contract with Treasury, that has to be governed by State Law as per HERA. Yes? No?