Report: Mortgage giant Fannie Mae knew as early as 2003 of extensive foreclosure abuses

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Report: Mortgage giant Fannie Mae knew as early as 2003 of extensive foreclosure abuses

Report: Mortgage giant Fannie Mae knew as early as 2003 of extensive foreclosure abuses

Jack Pot! Just take a look at my research from New York cases, but this only goes back to 2004. However, it still demonstrates this was an ongoing pattern with foreclosures.

Question remains will the tax payers continue to bailout these criminal acts?

Red flags sprouted even before… DEPOSITION TRANSCRIPT OF DAVID J. STERN ESQ. FROM 1/19/2000 BRYANT v. STERN

NYT-

Fannie Mae, the mortgage finance giant, learned as early as 2003 of extensive foreclosure abuses among the law firms it had hired to remove troubled borrowers from their homes. But the company did little to correct the firms’ practices, according to a report issued Tuesday.

Only after news reports in mid-2010 began to describe the dubious practices, like the routine filing of false pleadings in bankruptcy courts, did Fannie Mae’s overseer start to scrutinize the conduct. The report was critical of that overseer, the Federal Housing Finance Agency, and was prepared by the agency’s inspector general.

[NEW YORK TIMES]

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