Justices Could Create 'Rush To Federal Court' In Fannie Case

Law360, Minneapolis (November 14, 2016, 8:17 PM EST) -- With the U.S. Supreme Court poised to decide whether Fannie Mae can be sued in both state and federal court, experts in real estate law say that a ruling for the government-sponsored enterprise could pave the way for thousands of mortgage cases to be heard in federal court.

After hearing oral arguments in Lightfoot v. Cendant Mortgage Corp. last week, the nation's high court is considering a narrow question of how Fannie Mae’s decades-old congressional charter should be interpreted.

At issue is a 1954 amendment that...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.