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Judge shoots down FHFA bid to limit discovery, keep docs secret

Housing Wire

July 21, 2014, By Trey Garrison

 

Judge Margaret Sweeney handed Fairholme Funds a huge victory late last week when she ruled in favor of broad access in discovery to FHFA records going back years, rather than the narrow period in 2012 that the FHFA wanted to limit discovery to.

Sweeney also slapped down the argument from the FHFA that the court lacked authority, reminding the agency that it is not above the law. Fairholme Funds serves as the point of entry for Investors Unite and other GSE shareholders suing the FHFA.

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