$FNMA #FANNIEGATE

15-01463-0034 (1)To refresh everyone's recollection, Meridian is not a GSE shareholder and does not challenge the Net Worth Sweep.  Accordingly, this litigation is tangential to on-going litigation concerning the Third Amendment.  Mr. Carney, you'll recall, saw the decision in this case as a major victory for FHFA and a setback for GSE shareholders a month ago.

Meridian has taken an appeal from Judge Cacheris' order dated Mar. 1, 2016, to the U.S. Court of Appeals for the Fourth Circuit today.  The Clerk has assigned No. 16-1384 to the proceeding.

Another copy of Judge Cacheris' opinion, now on appeal, is attached to this e-mail message.