An appellate court overturned a ruling that supported a 2012 government decision to sweep all Fannie Mae and Freddie Mac profits to the Treasury Department.
WASHINGTON—Investors in Fannie Mae and Freddie Mac notched a win in their yearslong challenge to the U.S. sweep of nearly all of the mortgage-finance giants’ profits, a victory in their fight for gains from the companies’ return to profitability.
An appellate court on Friday overturned a ruling that supported a government decision in 2012 to sweep all the mortgage-finance giants’ profits to the Treasury Department. The Fifth Circuit Court of Appeals in New Orleans said the investors can now pursue their claims at a trial court.
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