Replies to post #393964 on Fannie Mae-No Politics (FNMA)

[obiterdictum]

Obit: Is this the governments definition of conservator. It is what I have always used to define it.

https://www.treasury.gov/press-center/press-releases/Documents/fhfa_consrv_faq_090708hp1128.pdf

This a FHFA FAQ giving a simplified, non-legal version of the FHFA conservator and conservatorship (the FAQ is without legal force). It is meant to convey the general idea of a conservator and conservatorship and to ease the concerns arising over the implementation of the GSE conservatorships. If this is used as a definition, all will be mislead by its seeming innocuousness. Ideally, this is what a FHFA conservator and conservatorships should be. But, this is not what is or is what is occurring in fact.

The applicable definition and explanation used in the various court cases is partially but not wholly composed what is on this FAQ, though aspects of the FAQ is referred to by some Plaintiffs in factual background sections.

The applicable definitions of conservator and conservatorship is found in HERA 2008 and in the related statutory definitions found in the laws upon which HERA is based. These are given below.

Source:
US Court of Appeals - Perry Opinion
http://gselinks.com/Court_Filings/Perry/14-5243-1662090.pdf

For statutory definitions of Conservator see:

HERA 2008 - see section SEC. 1367(b)
https://www.govtrack.us/congress/bills/110/hr3221/text

The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) - see section 212
https://www.gpo.gov/fdsys/pkg/STATUTE-103/pdf/STATUTE-103-Pg183.pdf

Federal Deposit Insurance Act (FDIA) - see section 11
https://www.fdic.gov/regulations/laws/rules/1000-100.html

The Resolution of Systemically Important Financial Institutions: Lessons from Fannie and Freddie
https://object.cato.org/sites/cato.org/files/pubs/pdf/working-paper-25_1.pdf