Radatz v. Federal National Mortgage Ass'n

{¶ 1} In this appeal, we address whether a cease-and-desist order issued by the Federal Housing Finance Agency (“FHFA”) to defendant-appellant, Federal National Mortgage Association (“Fannie Mae”), divested the trial court of subject-matter jurisdiction over the class action of plaintiff-appellee, Rebekah R. Radatz, for statutory damages against Fannie Mae under R.C. 5301.36(C). We agree with the holding of the Eighth District Court of Appeals that the cease- and-desist order did not preclude the trial court from exercising jurisdiction under 12 U.S.C. 4635(b), the federal statute governing…