Fannie Mae-No Politics (FNMA)

[955]

From Fairholme Funds, Inc. v. United States, No. 2020-1912, 2022 WL 518222 (Fed. Cir. Feb. 22, 2022):

Notably, the Supreme Court held that, because HERA authorizes the FHFA to act in the best interests of the Enterprises or itself, the agency "may aim to rehabilitate the [Enterprises] in a way that, while not in the best interests of the [Enterprises], is beneficial to the [FHFA] and, by extension, the public it serves." Collins, 141 S.Ct. at 1776; see 12 U.S.C. § 4617(b)(2)(J)(ii).

Therein lies the problem. FHFA, being a rogue agency, hasn't been beneficial to the best interests of the public it is supposed to be serving. SCOTUS is assuming here that FHFA is serving the best interests of the public when in actuality is serving the best interests of itself. Homes for all policies are detrimental to the housing industry.

Watch Judge Edith Jones of the Fifth Circuit testimony about rogue agencies run amok.

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