It is a difficult matter, the FHFA was constitutional when created (questionable but still) FHFA had acting and confirmed directors throughout the years, now after SCOTUS it is clear the president had the at-will removal power from the beginning, but it is now also clear the president obstructed Judicial review in 4617(f) from the beginning, the president however, does not have the right to block any of the other powers in the separation of powers.
Apart from that unconstitutional “for cause” is void-ab-initio thus illegal from the beginning, so in short the Director of the FHFA did NOT have the power granted by congress to put the companies into conservatorship
The same counts for the 3rd, the SCOTUS ruled the FHFA was allowed to implement the 3rd amendment, but if they did NOT have the power from Congress to put the entities into conservatorship, then it might be legal by HERA/SCOTUS but not per the constitution as the power was missing
So now FHFA did not have the power to put the entities into conservatorship, as absent the legislative power they could not have administering power to do so, OFHEO did not have this power for a reason, and to overcome this problem the agency needed to be independent and had to have “for cause” removal in order to be independent, so striking down will remove “for cause” and “independent” and if it strikes those there is nothing left in HERA, so I’m not sure how the FHFA will survive without giving up ALL powers added after OFHEO, The SCOTUS took the sole thing on which FHFA was allowed to operate
