Fannie and Freddie Foreclosures Must Meet Constitutional Due Process Standards

Categorized | STOP FORECLOSURE FRAUD

Fannie and Freddie Foreclosures Must Meet Constitutional Due Process Standards

Fannie and Freddie Foreclosures Must Meet Constitutional Due Process Standards

NCLC Digital Library –

A federal court’s August ruling in Sisti v. Federal Housing Finance Agency, 2018 WL 3655578 (D.R.I. Aug. 2, 2018), has the potential to revolutionize Fannie Mae and Freddie Mac foreclosure procedures in the majority of states that allow nonjudicial foreclosures. By finding Fannie and Freddie to be state actors, those entities’ foreclosure practices must meet constitutional due process standards. If followed by other courts, this may radically change Fannie and Freddie foreclosure practices in nonjudicial foreclosure states.

Fannie and Freddie Are Now Under Federal Agency Conservatorship

Sisti finds Fannie Mae and Freddie Mac to be state actors because they are under conservatorship of a federal agency. In 2008, Congress authorized the federal government to take over operation of both Fannie and Freddie, known as government sponsored enterprises (GSEs). Congress created the Federal Housing Finance Agency (FHFA) to place the GSEs in receivership or conservatorship. See 12 U.S.C. § 4617(a)(2). The GSEs have remained under the FHFA’s conservatorship ever since then. Under the conservatorship FHFA controls all aspects of the GSEs’ activities. See Leon Cty. Fla v. FHFA, 700 F.3d 1273, 1279 (11th Cir. 2012).

[NCLC]

© 2010-18 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 9048 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

2 Responses to “Fannie and Freddie Foreclosures Must Meet Constitutional Due Process Standards”

  1. Charles Reed says:

    Ginnie Mae has been acting illegally and violating Constitutional Rights with the handling of Washington Mutual Bank FHA & VA loans that Wells Fargo Bank was servicing. They could not have Wells do non-judicial foreclosures as WaMu stop existing on Sept 25, 2008!

  2. Storm says:

    It is not a win, by any stretch of the imagination the motion was denied.

    Every other court in the country that has heard that argument has ruled the opposite. Much ado about nothing.

Trackbacks/Pingbacks


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives