What have we been saying for at least 8 years?! Now, add this little tidbit. The HERA Act, which governs FHFA, was created by Congress AGAINST the constitutional balance of powers specifically eliminating the judicial branch. If you don’t think this was by intentional design – think again.
Just like the CFPB, judicial review is specifically exempted. Without the balance of powers, agency directors can become more powerful than the President & Congress. It begins the slippery slope to deteriorating our LIBERTY.
Congress has given Cart Blanche to the banks to steal our properties through the process of securitization/rehypothecation and MERS by the very entities involved in the creation of the overt corruption. And you can’t sue them unless you want to sue the government. How miraculously convenient?!
(BREAKING NEWS, OP-ED) —
For those of you who might have missed this Memorandum and Order out of Rhode Island (whose courts typically favor the banks and their servicers), you may wish to read this 19-page ruling:
The FHFA attempted to get a judgment on the pleadings, which the court denied! While this isn’t much of a setback, it does make clear a few potential misconceptions about Fannie Mae, Freddie Mac, the FHFA, the FDIC and the mortgage loan servicers who deal with these entities:
THE BUCK STOPS WHERE?
(1) Following the subprime mortgage crisis, Congress passed the Housing and Economic Recovery Act, which created the FHFA (Federal Housing Finance Agency), giving it the power to supervise and regulate Fannie Mae and Freddie Mac (the government-sponsored entities, or GSEs). The FHFA pretty much has complete control…
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