Saticoy Bay LLC Series 9641 Christine View v. Federal National Mortgage Association

Summary

The Nevada Supreme Court affirmed the district court, holding that Fannie Mae has standing to invoke the Federal Foreclosure Bar, that the Bar implicitly preempts Nevada’s HOA foreclosure statute NRS 116.3116, and that without FHFA consent the foreclosure sale could not extinguish Fannie Mae’s deed of trust. The court based its decision on the plain‑meaning of HERA and the Supremacy Clause.