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April 15, 2016 – Oral arguments presented in appeal of Lamberth ruling.
May 23, 2016 – Investors Unite launches FannieFreddieSecrets.org
June 2, 2016 – US Judicial Panel on Multidistrict Litigation rejects FHFA motion to consolidate GSE shareholder lawsuits.
June 10, 2016 – The Obama Administration officially invokes “Presidential Communications Privilege” over four documents in an attempt to obfuscate the government’s rationale in enacting the Net Worth Sweep. (Fairholme Funds v. United States, Fed. Cir. 6/10/16)
June 22, 2016 – Unsealed documents reveal that the Net Worth Sweep was contemplated for months by Treasury and Administration officials as a means of reaching the Administration’s goal of winding down the GSEs. (“Unsealed Documents – June 22, 2016,” Fannie Freddie Secrets)
July 11, 2016 – Investors Unite Survey conducted by Schoen Consulting finds that most Americans support Fannie and Freddie, and that plurality of likely voters believe that the Net Worth Sweep is a violation of shareholders’ rights. (Douglas E. Schoen, “Housing Access Polling” 7/12/16)
August 2, 2016 – Unsealed documents in the Federal Court of Claims reveal the outsized role Treasury played in governing the GSEs since the beginning of the conservatorship, in violation of HERA’s mandate that FHFA act independently. (“Unsealed Documents – August 2, 2016,” Fannie Freddie Secrets)
September 20, 2016 – Judge Sweeney issued her ruling which rejected government claims of privilege over 58 documents, which she reviewed “in camera.” (Fairholme v. United States, Fed. Cir. 9/20/16)
October 20, 2016 – Congressional Budget Office report highlights the benefits of allowing the GSEs to retain capital. (“The Effects of Increasing Fannie Mae’s and Freddie Mac’s Capital,” Congressional Budget Office, 10/20/16)
November 30, 2016 – Treasury Secretary Designate Steve Mnuchin calls ending the conservatorship a “top ten priority” for the incoming Trump Administration. (Richard Leong and Patrick Rucker, “U.S. should cede control of Fannie and Freddie: Mnuchin,” Reuters 11/30/16)
January 30, 2017 – Appeals court ruling rejecting gov’t appeal on privilege claims over 51 of 58 documents, largely upholding Judge Sweeney’s ruling from September 2016. (Fairholme v. United States, Fed. Cir. 1/30/17)