Lightfoot v. Cendant Mortg. Corp.
Supreme Court of the United States
1Opinion of the CourtJustice Sotomayor
The corporate charter of the Federal National Mortgage Association, known as Fannie Mae, authorizes Fannie Mae "to sue and to be sued, and to complain and to defend, in any court of competent jurisdiction, State or Federal." 12 U.S.C. § 1723a(a). This case presents the question whether this sue-and-be-sued clause grants federal district courts jurisdiction over cases involving Fannie Mae. We hold that it does not.
I
A
During the Great Depression, the Federal Government worked to stabilize and strengthen the residential mortgage market. Among other things, it took steps to increase liquidity…
2Cases cited29 opinions
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- Pennoyer v. NeffSupreme Court of the United States · 1878
- Osborn v. Bank of United StatesSupreme Court of the United States · 1824
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