Special <span>Supplements</span>

Special Supplements


......Much of the decision relied on a HERA prohibition on injunctive relief. The HERA

provision reads, “no court may take any action to restrain or affect the exercise of powers

or functions of the Director as a conservator or a receiver.” Congress enacted this in

2008 as to the GSEs, but it was drawn from a substantively similar provision in the

Federal Deposit Insurance Act (“FDIA”) that the FDIC uses with failed banks..... 

 Reforming Fannie Mae and Freddie Mac is a significant element of the administration’s broader reform efforts to reengineer the U.S. housing finance system, which comprises more than 15% of the country’s gross domestic product. The administration’s reform proposals will likely touch on a broad number of participants in the housing system, ranging from Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA), Ginnie Mae, the Federal Home Loan Bank (FHLB) System, the Rural Housing System (RHS), and Community Development Financial Institutions (CDFIs), to the housing processes and systems, which drive the mortgage origination, underwriting, securitization and after-market support of mortgages. 
A Closer Look at the Debate Over Principal Forgiveness at Fannie and Freddie