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10637 McClemont Ave, Tujunga, Homes for Sale

cel:818.262.5446 email:800041.lead@cendant.lead Shelley Rizzotti cel:818.516.6409 email:800041.lead@cendant.lead Ewing &amp ...

Supreme Court to Hear Case Involving Where Fannie Can Be Sued

The Supreme Court agreed Tuesday to hear a case regarding a clause in Fannie Mae's corporate charter that awards jurisdiction over every case involving the government-sponsored enterprise to federal courts.

The case, Lightfoot v. Cendant Mortgage Corp., addresses a specific clause in Fannie Mae's charter, which says that the GSE can "sue and be sued, and to complain and defend, in any court of competent jurisdiction, state or federal." The case was initially brought forth by two California women, Beverly Ann Hollis-Arrington and Crystal Monique Lightfoot, after Fannie Mae initiated foreclosure proceedings against Hollis-Arrington's home.

The plaintiffs in the case had originally filed their complaint in California state court, but the case was then shifted to federal court by Fannie Mae. The district court then dismissed all claims.

A divided Ninth U.S. Circuit Court of Appeals decision from October 2014 came down in Fannie Mae's favor, saying that Fannie Mae's charter did grant jurisdiction to federal district courts by citing the decision made in the 1992 case of American Red Cross v. S.G.