High Court Finds Clause Did Not Confer Federal Jurisdiction For Fannie Mae

(January 20, 2017, 1:41 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Jan. 18 reversed a decision granting judgment for the Federal National Mortgage Association (Fannie Mae) on claims related to a property foreclosure, finding that the sue-and-be-sued clause in a federal charter does not expressly confer jurisdiction on federal courts (Crystal Monique Lightfoot, et al. v. Cendant Mortgage Corporation, et al., No. 14-1055, U.S. Sup.; 2017 U.S. LEXIS 785)....

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