Summit County, Ohio files lawsuit against mortgage buyer Freddie Mac

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Summit County, Ohio files lawsuit against mortgage buyer Freddie Mac

Summit County, Ohio files lawsuit against mortgage buyer Freddie Mac

OHIO-

Summit County filed a lawsuit Tuesday against Freddie Mac, claiming the government-sponsored company failed to pay fees and transfer taxes on more than 3,500 real estate transactions over a six-year period.

The Virginia-based mortgage buyer, also known as the Federal Home Loan Mortgage Corp., committed fraud by claiming it was a government entity and exempt from making those payments, the suit says.

“The reality is Freddie Mac is a federally chartered, private corporation and they should have been paying these fees and taxes,” Assistant Prosecutor Joe Fantozzi said.

The suit covers 2002 through 2008, when the Ohio Department of Taxation ruled that Freddie Mac and Fannie Mae, also known as the Federal National Mortgage Association, weren’t exempt. The companies began paying in 2009, officials said.

[OHIO.com]

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