Ingham County, MI to begin collecting taxes from mortgage giants Freddie Mac, Fannie Mae

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Ingham County, MI to begin collecting taxes from mortgage giants Freddie Mac, Fannie Mae

Ingham County, MI to begin collecting taxes from mortgage giants Freddie Mac, Fannie Mae

M Live-

Ingham County officials expect to see tens of thousands of dollars in new revenue as they begin collecting taxes from two of the nation’s largest mortgage lenders.

Ingham County Register of Deeds Cutris Hertel Jr. said he will begin requiring Fannie Mae and Freddie Mac to pay full transfer taxes on all property transfers in which they are the seller.

The two companies had claimed to be exempt from paying taxes upon filing new deeds, saying they were government entities.

But a recent court ruling found the lenders were private entities, Hertel said.

“We’ve been telling them along the way they need to pay on these, but we haven’t had the legal backing until the Oakland County case was decided,” Hertel said.

[M LIVE]

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