Split 5th Circuit Sends HERA Constitutionality Appeal Back To District Court

Mealey's (March 9, 2022, 1:21 PM EST) -- NEW ORLEANS — In a March 4 divided opinion, the Fifth Circuit U.S. Court of Appeals remanded a case regarding whether a third amendment to preferred stock purchase agreements (PSPAs) between the federal parties and the appointed conservator for Fannie Mae and Freddie Mac is barred by the succession and anti-injunction clauses of the Housing and Economic Recovery Act of 2008 (HERA) to a federal district court, ruling that the U.S. Supreme Court’s questions posed on remand to the appellate court were better suited to be answered first by the lower court....