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Prominent Foreclosure Firm Settles Fannie Mae Fraud Charges - Latest News


Prominent Foreclosure Firm Settles Fannie Mae Fraud Charges

Geoffrey Berman, U.S. attorney for the Southern District of New York (Photo: John Taggart/Bloomberg) The prominent foreclosure law firm Rosicki, Rosicki & Associates has reached a settlement with the ... read more

Bank of America sued for alleged mortgage fraud

Those mortgages were purchased by government-backed mortgage finance firms Fannie Mae and Freddie Mac, resulting in over $1 billion in losses for taxpayers and countless foreclosures ... Fargo over mo... read more

Franklin Raines to pay $24.7 million to settle Fannie Mae lawsuit

WASHINGTON — Former Fannie Mae chief Franklin Raines ... and prominent Washington figure who was President Clinton's budget director, is relinquishing company stock options, proceeds from stock sales ... read more

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Treasury Plan to Wind Down Fannie and Freddie

But the plan doesn't specify how to overhaul or eliminate Fannie Mae and Freddie ... from Freddie Mac's 2007 settlement of accounting fraud charges and criticism of high executive pay to ongoing pract... read more


Mortgage fraud culture has its walk of the stars

CHICAGO – Hardly a day goes by without a settlement between a bank and a U.S. government agency or regulator. The latest one is between Bank of America and the government-backed mortgage underwriter F... read more

Sarasota author suing biggest U.S. bank over foreclosure

Wall Street firms — targeted in reams of ... of who actually owned the mortgage when the foreclosure began: Washington Mutual, Chase Bank, or the Federal National Mortgage Corp., better known as Fanni... read more

The Hustle Continues: Why the Feds Haven’t Nailed the Big Banks

Underlings told their superiors at Countrywide about the substandard quality of what were supposed to be prime loans, but the firm ignored the warnings and sold 17,611 of them to mortgage giants Fanni... read more

HSBC settles U.S. fraud charges over foreclosure fees

which oversees Fannie Mae, said in a statement. HSBC spokesman Rob Sherman said the bank is pleased to settle. "Since 2010, we have taken steps to enhance oversight of foreclosure law firms, and put i... read more

The Top Five Bank Bailouts We Never Heard About

In 2010, economist Dean Baker and others argued that Fannie Mae and ... a massive case of fraud, and the DoJ had internal memos and emails to prove it — certainly enough evidence to bring criminal cha... read more

What the BoA Settlement Means for the Bank – and for Banking

Fannie Mae ... extent that Bank of America’s activities contributed to the [overall economic] crisis, many more people were indirectly harmed, and the settlement cannot help them.” To achieve more per... read more

The Fall of Fannie Mae

Franklin Delano Raines is a prominent Democrat ... Consider the circumstances. Falcon was Fannie's regulator and had leveled serious charges, amounting to fraud, against Fannie Mae. Most CEOs would ha... read more



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