Federal Court Ruling on Mortgage Giants Likely to Slow Revamp

Bloomberg, Feb. 23, 2017–Joe Light
U.S. Treasury Secretary Steven Mnuchin’s seriousness about overhauling the nation’s $10 trillion mortgage market will soon be tested. A federal appeals court Tuesday dealt a blow to hedge funds that own Fannie Mae and Freddie Mac shares, ruling that investors weren’t entitled to billions of dollars of profits.