November 07, 2022
A D.C. federal judge declared a mistrial Monday after eight jurors couldn't reach a verdict in a lawsuit brought by shareholders of Fannie Mae and Freddie Mac accusing the Federal Housing Finance Agency of improperly amending stock purchase agreements to allow the U.S. Treasury Department to sweep up the companies' net worths.
November 04, 2022
A D.C. federal jury was still deadlocked Friday after roughly 18 hours of deliberation over Fannie Mae and Freddie Mac shareholders' claims that the Federal Housing Finance Agency improperly amended stock purchase agreements to allow the U.S. Department of the Treasury to sweep up the companies' net profits.
November 02, 2022
A D.C. federal jury continued deliberating Wednesday in spite of a COVID-19 scare and request for a mistrial in Fannie Mae and Freddie Mac shareholders' lawsuit accusing the Federal Housing Finance Agency of improperly amending stock purchase agreements to allow the U.S. Department of the Treasury to sweep up the companies' net profits.
November 01, 2022
The Federal Housing Finance Agency warned a D.C. federal jury Tuesday against using hindsight to consider the reasonableness of its decision to amend Fannie Mae and Freddie Mac stock purchase agreements to let the U.S. Department of the Treasury sweep up the companies' net worths, encouraging the panel to step into officials' shoes during deliberations.
October 31, 2022
A D.C. federal jury was told Monday the Federal Housing Finance Agency's decision to amend Fannie Mae and Freddie Mac stock purchase agreements and let the U.S. Treasury sweep up the companies' net worths made their stocks essentially worthless, dashing shareholders' hopes of receiving dividends.
October 27, 2022
The Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Department of the Treasury to sweep up Fannie Mae's and Freddie Mac's net worths was reasonable because it successfully quelled market concerns over the two companies running out of money, a financial consultant told a D.C. federal jury Thursday.
October 26, 2022
Unlike his Fannie Mae counterpart, Freddie Mac's former chief financial officer believed the Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up the companies' net worths "simplified things operationally" for the home mortgage outfits, according to testimony read to a D.C. federal jury Wednesday.
October 25, 2022
Fannie Mae's former chief financial officer saw the Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up Fannie Mae's and Freddie Mac's net worths as an effort to prevent the companies from recapitalizing, according to testimony read to a D.C. federal jury Tuesday.
October 24, 2022
A financial expert told a D.C. federal jury on Monday that the Federal Housing Finance Agency's decision to amend stock purchase agreements and allow the U.S. Treasury to sweep up Fannie Mae's and Freddie Mac's net worths was "totally unprecedented" and unnecessary.
October 20, 2022
Former Federal Housing Finance Agency Director Edward DeMarco admitted to a D.C. federal jury Thursday that the agency didn't conduct any analysis or studies before allegedly improperly amending stock purchase agreements to allow the U.S. Treasury to sweep up Fannie Mae's and Freddie Mac's net worths.