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Housing market: Fannie Mae was aware of abuses from the beginning

Posted on 06 October 2011

A report recently released by the FHFA and crafted by its inspector general, Steve Linick, states that Fannie Mae became aware as early on as 2003 of foreclosure malpractices perpetrated by law firms that it had employed to get distressed homeowners out of their homes. Despite this knowledge, the federal home loan financing giant did precious little to address the issue.
It took news reports in 2010 about issues like the submission of dishonest pleadings in bankruptcy courts to finally get Fannie Mae’s regulator to demonstrate any interest in holding these law firms accountable………………………………………Full Article: Source


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