lightfoot
et
al
cendant
mortgage
dba
phh
mortgage
et
argued
november
decided
january
federal
national
mortgage
association
fannie
mae
federally
chartered
corporation
participates
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mortgage
market
statute
fannie
mae
power
sue
sued
complain
defend
competent
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state
federal
petitioners
beverly
ann
daughter
crystal
lightfoot
filed
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state
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sale
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mae
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clause
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later
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circuit
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nat
red
cross
read
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rule
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charter
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charters
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readers
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washington
typographical
formal
errors
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corrections
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goes
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crystal
monique
lightfoot
et
cendant
mortgage
ration
dba
phh
mortgage
et
al
writ
certiorari
appeals
ninth
circuit
january
justice
sotomayor
delivered
opinion
corporate
charter
federal
national
mortgage
association
known
fannie
mae
authorizes
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mae
sue
sued
complain
defend
competent
jurisdiction
state
federal
case
presents
question
whether
clause
grants
federal
district
courts
jurisdiction
cases
involving
fannie
mae
hold
great
depression
federal
government
worked
stabilize
strengthen
residential
mortgage
market
among
things
took
steps
increase
liquidity
reasonably
available
funding
mortgage
market
efforts
included
creation
federal
home
loan
banks
provide
credit
member
institutions
finance
affordable
housing
economic
development
projects
federal
housing
administration
fha
insures
residential
mortgages
see
dept
housing
urban
development
background
history
federal
national
mortgage
association
also
part
efforts
title
iii
national
housing
act
act
authorized
administrator
newly
created
fha
establish
national
mortgage
associations
purchase
sell
certain
first
mortgages
first
liens
borrow
money
purposes
stat
associations
endowed
certain
powers
including
power
sue
sued
complain
defend
law
equity
state
federal
fha
administrator
exercised
authority
chartered
federal
national
mortgage
association
avoiding
mouthful
acronym
fnma
went
fannie
mae
see
washington
post
july
times
mar
originally
chartered
fannie
mae
wholly
owned
federal
government
three
objectives
establish
market
first
mortgages
covering
new
housing
construction
facilitate
construction
financing
economically
sound
rental
housing
projects
make
bonds
issued
available
investors
fed
nat
mortgage
assn
information
regarding
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assn
circular
fannie
mae
rechartered
housing
act
act
stat
longer
wholly
government
owned
fannie
mae
mixed
ownership
private
shareholders
held
common
stock
department
treasury
held
preferred
stock
act
required
secretary
treasury
allow
fannie
mae
repurchase
stock
see
expected
fannie
mae
repurchase
preferred
stock
legislation
enacted
turn
fannie
mae
private
stockholders
fannie
mae
duties
carried
privately
owned
privately
financed
corporation
along
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changes
act
replaced
fannie
mae
initial
set
powers
detailed
list
revised
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give
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mae
power
sue
sued
complain
defend
competent
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federal
fannie
mae
became
fully
privately
owned
relinquished
part
portfolio
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spinoff
government
national
mortgage
association
known
ginnie
mae
see
housing
urban
development
act
act
stat
fannie
mae
continue
operate
secondary
market
operations
became
private
corporation
ginnie
mae
remain
ed
government
took
special
assistance
functions
management
liquidating
functions
ibid
ginnie
mae
received
set
powers
fannie
mae
see
see
also
act
stat
minor
revisions
general
structure
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place
fannie
mae
continues
participate
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mortgage
market
purchases
mortgages
meet
eligibility
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packages
securities
sells
securities
investors
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mortgage
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led
fannie
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beverly
ann
refinanced
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cendant
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cendant
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fannie
mae
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mortgage
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make
payments
pursued
forbearance
arrangement
cendant
agreement
materialized
home
entered
foreclosure
around
time
cendant
repurchased
mortgage
fannie
mae
meet
fannie
mae
credit
standards
stave
foreclosure
daughter
crystal
lightfoot
pursued
bankruptcy
transferred
property
efforts
failed
home
sold
trustee
sale
two
took
courts
try
undo
foreclosure
sale
two
unsuccessful
federal
suits
pair
filed
suit
state
alleged
deficiencies
refinancing
foreclosure
sale
home
entitled
relief
fannie
mae
claims
defendants
relevant
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mae
removed
case
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permits
defendant
remove
state
federal
civil
action
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district
courts
original
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relied
clause
basis
jurisdiction
district
denied
motion
remand
case
state
district
dismissed
claims
fannie
mae
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series
motions
rulings
appeals
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issue
district
entered
final
judgment
lightfoot
immediately
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rule
civil
procedure
alleging
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app
district
denied
motion
ninth
circuit
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case
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fed
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circuit
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ordered
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mae
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divided
panel
affirmed
district
judgment
majority
relied
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nat
red
cross
read
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clause
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charter
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bank
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securities
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ed
secretary
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garner
reading
law
two
cases
speak
question
second
set
cases
addresses
provisions
authorizing
suit
violation
statute
one
arose
fair
labor
standards
act
authorizes
employees
sue
violations
act
competent
jurisdiction
stat
description
facts
stated
urisdiction
action
conferred
williams
jacksonville
terminal
brief
ambiguous
statement
settle
meaning
thus
settle
meaning
phrase
competent
jurisdiction
cases
set
dealt
housing
rent
act
enacted
statute
permitted
suit
federal
state
territorial
competent
jurisdiction
stat
courts
read
confer
jurisdiction
instead
assessed
jurisdiction
jurisdiction
statute
see
schuman
greenberg
supp
nj
collecting
cases
time
statute
carried
requirement
ed
cases
dismissed
remanded
state
lack
federal
jurisdiction
congress
later
amended
permit
suit
federal
competent
jurisdiction
regardless
amount
involved
defense
production
act
amendments
stat
congress
elimination
requirement
suggests
anything
understood
competent
jurisdiction
read
require
outside
source
jurisdiction
third
set
cases
interpreted
provisions
making
federal
jurisdiction
certain
causes
action
exclusive
brief
respondents
cases
confirm
provisions
require
suit
brought
federal
courts
discuss
basis
federal
jurisdiction
sum
none
cases
fannie
mae
relies
suggest
congress
surveyed
jurisprudential
landscape
necessarily
concluded
courts
already
settled
question
whether
clause
containing
phrase
competent
jurisdiction
confers
jurisdiction
federal
courts
fannie
mae
ends
appeal
congressional
purpose
accurately
lack
congressional
purpose
argues
original
clause
enacted
granted
jurisdiction
federal
courts
indication
congress
wanted
change
status
quo
addition
competent
jurisdiction
phrase
discussed
carries
clear
meaning
means
current
clause
confer
jurisdiction
indication
whether
meaning
understood
change
act
required
fannie
mae
next
points
sibling
rival
federal
home
loan
mortgage
corporation
known
freddie
mac
two
share
parallel
authority
compete
secondary
mortgage
market
compare
fannie
mae
freddie
mac
suits
involving
freddie
mac
may
brought
federal
see
sue
sued
complain
defend
state
federal
providing
freddie
mac
federal
agency
civil
actions
freddie
mac
party
arise
federal
law
freddie
mac
may
remove
cases
federal
district
trial
fannie
mae
argues
good
reason
think
congress
gave
freddie
mac
fuller
access
federal
courts
leaving
aside
clear
textual
indications
suggesting
congress
plausible
reason
exist
freddie
mac
clause
related
jurisdictional
provisions
enacted
freddie
mac
corporation
see
emergency
home
finance
act
stat
fannie
mae
hand
already
transitioned
privately
owned
corporation
fannie
mae
argument
front
moreover
contains
deeper
flaw
doors
federal
remain
open
fannie
mae
diversity
jurisdiction
fannie
mae
provides
reason
think
cases
involving
claims
access
federal
courts
gives
freddie
mac
unintended
competitive
advantage
fannie
mae
congress
wanted
avoid
indeed
usual
assumption
state
courts
task
adjudicating
laws
cf
gulf
offshore
mobil
oil
iv
judgment
ninth
circuit
reversed
ordered
footnotes
legislative
history
act
provides
reason
question
fannie
mae
premise
congress
view
status
quo
act
debate
provision
senator
logan
asked
senator
bulkley
chair
subcommittee
authority
bill
original
clause
senator
bulkley
explained
merely
conferred
capacity
sue
sued
confe
right
go
federal
otherwise
exist
cong
rec