Specifically, FHFA cannot produce agency documents and other materials unless production has been permitted by the Director of FHFA. These regulations require that anyrequesting party, including the Debtor, abide by the procedures set forth for requesting any suchinformation, which the Debtor has not done. The Debtor cannot by-pass this process for requesting documents from a federal agency.8.
The relief sought in this 2004 Motion runs in direct conflict with FHFA’sdisclosure regulations and the policies in place to protect the limited resources of the governmentagency and tax-payers in seeking this type of disclosure.
In 2008, Congress, through HERA, merged the Office of Federal HousingEnterprise Oversight (“OFHEO”) and the Federal Housing Finance Board to form the newFHFA, a new, independent federal regulatory agency.
HERA, 12 U.S.C. § 4511,
Inre Fed. Home Loan Mortgage Corp. Derivative Litig.
, 643 F. Supp. 2d 790 (E.D. Va. 2009). Inabolishing the OFHEO, HERA left intact the regulations enacted by the OFHEO, which continueto be enforceable by FHFA until they are replaced or modified.
HERA §§ 1301(f) and1302(a)-(b).10.
FHFA is the federal financial-institution regulatory agency responsible for overseeing the safety, soundness, and prudential operation of Freddie Mac. It is charged withensuring that Freddie Mac operates in a safe and sound manner and otherwise complies withHERA. 12 U.S.C. § 4513(a). In connection with section 4513, which sets out these duties andauthorities of FHFA, Regulation 1703,
., of the Code of Federal Regulations, prescribes the procedures to be followed with respect to release of information in legal proceedings, such asthis matter, to which FHFA is not a party.
Case 3:12-bk-04524-JAF Doc 176 Filed 10/12/12 Page 3 of 11