Court-Appointed Amicus Curiae Weighs In On FHFA Constitutionality Appeal

Mealey's (November 12, 2020, 9:43 AM EST) -- WASHINGTON, D.C. — In an Oct. 16 brief, a court-appointed amicus curiae tells the U.S. Supreme Court that it should reverse a federal appellate court’s finding that the structure of the Federal Housing Finance Agency (FHFA) is unconstitutional but failed to set aside the FHFA’s adoption of a net worth sweep as conservator of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac) based on recent Supreme Court precedent because the appellate court’s finding is “opposite” of the Supreme Court’s ruling “in a critical respect” (Patrick J. Collins, et al. v. Steven T. Mnuchin, et al., No. 19-422, and Steven T. Mnuchin, et al. v. Patrick J. Collins, et al., No. 19-563, U.S. Sup.)....