WASHINGTON (AP) — The Supreme Court has ruled that the structure of the agency that oversees mortgage giants Fannie Mae and Freddie Mac violates separation of powers principles in the Constitution. The justices on Wednesday sent the case involving Federal Housing Finance Agency back to a lower court for additional proceedings. That agency oversees Fannie Mae and Freddie Mac and was created during the 2008 financial crisis. White House press secretary Jen Psaki says the president will nominate a new head of the Federal Housing Finance Agency after the Supreme Court decision, but she isn’t giving a timeline.
