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Foreclosure Defense FloridaGeneral Information

The Banks….At War With Themselves….And Their Federal Governemnt Partner……FHFA…..WOW….

They are a squirming bunch of lies and fraud….and they don’t want the full story to be told…..
Petitioners are defendants in 15 separate actions (the ” Actions”)
commenced by the Federal Housing Finance Agency (” FHFA“) as purported con-
servator for Fannie Mae and Freddie Mac (collectively, the Government Sponsored
Entities or ” GSEs”), the largest participants in the mortgage loan business. These
Actions involve statutory and common law securities claims arising from the
GSEs’ purchase of approximately $200 billion in residential mortgage-backed se-
curities (” RMBS”) sold in approximately 500 securitizations, and represent per-
haps the largest collection of securities litigations ever filed in the United States.
The District Court denied Petitioners’ motions to dismiss on the ground that
FHFA’s core allegations of” pervasive and systematic breaches” of loan underwrit-
ing guidelines were ” sufficient to render plausible FHFA’s assertion that the mort-
gage originators serially deviated from their mortgage originating standards.” (A-
129, 151-52.)
2
However, the District Court has foreclosed discovery into the
GSEs’ extensive business dealings with those same originators and types of mort-
gages during the relevant timeperiod. In so doing, the District Court has deprived
Petitioners of their right to obtain evidence that the GSEs either knew the extent to
which those mortgage originators had abandoned their guidelines or, more likely,
had concluded that originators did notmaterially deviate from the guidelines dis-
closed in Petitioners’ offering documents. The District Court has also barred dis-
covery on other important issues ““ including statute of limitations, loss causation,
the materiality of any alleged defects, the adequacy
of Petitioners’ due diligence, and justifiable reliance ““ on the grounds
that any discovery beyond the business units that purchased the secu
ritizations at issue is irrelevant and burdensome.

 

FHFA LAWSUIT