Fannie Mae-No Politics (FNMA)

[big-yank]

In very simple terms, a writ of mandamus stops a case in progress before a verdict is rendered so a point of law can be considered. In this case, that point concerns which court should be hearing the Fairholme case. The petitioner, Mr. Sammons, claims that the law requires a lower court with elected judges, not judges appointed by the government, to hear the Fairholme case.

The writ stops the original court process before any decision can be reached until the point of law raised in the mandamus is ruled on by an appeals court. This can be a matter of a few weeks or many months depending on how things play out in court.

Now the outspoken Fannie Mae M/B Law Review Panel can tell you all the reasons why I am wrong for my explanation.

JMHO.