$FNMA #FANNIEGATE Mr. Pagliara wants action, not further delay.

Chief Judge Reade entered an Order this afternoon granting the government's motion to stay proceedings in Saxton v. FHFA until the MDL Panel makes its decision about whether to transfer and consolidate cases challenging the Net Worth Sweep.  A copy of that Order is attached to this e-mail message.

If FHFA files its reply with the MDL Panel by Apr. 13, as it has represented to Chief Judge Reade that it will, the JPMDL should be able to make a decision following its next bi-monthly hearing in Chicago on May 26.15-00047-0079

AuthorizedReprintTCR20160405

Mr. Pagliara, FHFA and Freddie agreed today:

-- that Mr. Pagliara will file his objection to Freddie and FHFA's Motion to Stay (Doc. 10) by Apr. 20, 2016; and 16-00337-0017 -- that a hearing on the Motion to Stay will be held on May 5, 2016; and

-- to ask Magistrate Anderson for his stamp of approval on this schedule.

A copy of the parties' Joint Motion making this request is attached to this e-mail message.

Mr. Pagliara filed his opposition to Freddie Mac's request to extend its deadline to respond to the Virginia lawsuit, and a copy of that objection is attached to this e-mail message.  Mr. Pagliara wants action, not further delay.  Mr. Pagliara's lawyers at Hogan Lovells don't see transfer and consolidation of all cases challenging the Third Amendment as a foregone conclusion.16-00337-0016