Fannie Mae-No Politics (FNMA)

[FOFreddie]

Here are the two issues before the 5th Circuit in Collins on Sept 8th

1. Whether Plaintiffs are entitled to a mandatory injunction commanding FHFA and Treasury to wipe out Treasury’s nearly $300 billion liquidation preferences, based on a theory that the unconstitutional removal restriction impeded a former Presidential Administration from pursuing financial reforms that Plaintiffs hypothesize might have included such a step.

2. Whether Plaintiffs’ newly added claims under the Appropriations Clause are foreclosed, either because they are beyond the scope of the limited remand that governed the district court proceedings or outside the statute of limitations. If not, whether the funding mechanism Congress enacted for FHFA— consisting of financial assessments on regulated entities—comports with the Appropriations Clause, and whether any alleged violation would provide a basis to Case: 22-20632 Document: 49 Page: 15 Date Filed: 04/03/2023 4 US 173061234v18 vacate the Third Amendment when neither the money for Treasury’s infusions to the Enterprises nor the money for the Enterprises’ dividends to Treasury come from the funding mechanism alleged to be unconstitutional

https://www.glenbradford.com/2023/04/fnma-fanniegate-1280/