Fannie Mae-No Politics (FNMA)

[Donotunderstand]

?
I thought some one cleared this up with the distinction

Conservator acting as conservator - and in norms - has a ton and then more capacity/authority to do what they want (and all is kosher and 4617 or whatever is a stop sign)

Conservator acting as conservator - but ULTRA VIRES - can be reviewed by a court and 4617 is not a stop sign

I do not think SCOTUS ruled on this specifically - but said GOV followed rules in setting up the NWS and FHFA is within the norm
(although a breach of an equity contract is pursuable)

??