FHFA, GSEs Not Government Actors Subject To Due Process Claims, Panel Rules

Mealey's (June 10, 2021, 1:44 PM EDT) -- BOSTON — A federal district court did not err in dismissing borrowers’ class claims for violation of their constitutional right to due process against government-sponsored agencies (GSEs) Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corp. (Freddie Mac), as well as the Federal Housing Finance Agency (FHFA) over the defendants’ handling of nonjudicial foreclosures of the borrowers’ properties because those entities are not government actors subject to the borrowers’ due process claims, a First Circuit U.S. Court of Appeals panel ruled in affirming on June 8....