The opinion of the court was delivered by: Honorable Claudia Wilken United States District Judge
[PROPOSED] PRELIMINARY INJUNCTION
For the reasons set forth in the Court's Order of August 26, 2011, the Motion of Sonoma
The Federal Housing Finance Agency (FHFA), without withdrawing its July 6, 2010 24 statement or its February 28, 2011 letter, shall proceed with the notice and comment process with 25 regard to those directives. Specifically, FHFA shall do the following: 26
(1) No later than 30 days after the issuance of this order, FHFA shall cause to be published 27 in the Federal Register an Advance Notice of Proposed Rulemaking relating to the statement 28 issued by FHFA on July 6, 2010 and the letter issued by FHFA on February 28, 2011 that deal with property assessed clean energy (PACE) programs. In the Advance Notice of Proposed 2 Rulemaking, FHFA shall seek comments on, among other things, whether conditions and 3 restrictions relating to the regulated entities' dealing in mortgages on properties participating in 4
The comment period shall not be less than 60 days. 6
PACE are necessary; and, if so, what specific conditions and/or restrictions may be appropriate. 5
(2) After considering any public comments received related to the Advance Notice of Proposed Rulemaking, but no later than 30 days after the close of the comment period, FHFA 8 shall cause to be published in the Federal Register a Notice of Proposed Rulemaking setting forth 9 FHFA's proposed rule relating to PACE programs. The comment period shall not be less than 30 10 days.
before April 30, 2012, FHFA shall cause to be published in the Federal Register a final rule 13 addressing whether and how Fannie Mae, Freddie Mac, and other regulated entities shall deal 14 with mortgages on properties participating in PACE programs. 15
(3) After considering any public comments received concerning the proposed rule, on or
If circumstances beyond FHFA's control prevent FHFA from meeting a deadline in this Order, FHFA may request an extension from the Court. For good cause shown, the Court may 17 grant a reasonable extension, which shall be no longer than is necessary to allow FHFA to comply 18 with its rulemaking responsibilities. FHFA shall comply with all relevant provisions of the 19 Federal Administrative Procedure Act, 5 U.S.C. section 500 et seq., that apply to substantive rule-20 making. 21
The obligations set forth in this Order shall cease to apply if FHFA formally withdraws its July 2010 statement and February 2011 letter and directs the regulated entities to retract any 23 lender letter, industry bulletin, or other guidance issued by them in response to the July 2010 24 statement or February 2011 letter. 25
26 regulator and Conservator of Fannie Mae and Freddie Mac, including without limitation, by the 27 Safety and Soundness Act or by principles of administrative law.
Nothing in this Order shall be construed to limit or modify the discretion accorded FHFA as Plaintiffs retain the right to challenge any final agency action or regulation as provided by 2 law. 3
Nothing in this Order shall relieve FHFA from its obligation to comply with the National 4 Environmental Policy Act, 42 ...