Fannie Mae, Freddie Mac Sued in Maryland for Unpaid Taxes

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Fannie Mae, Freddie Mac Sued in Maryland for Unpaid Taxes

Fannie Mae, Freddie Mac Sued in Maryland for Unpaid Taxes

Bloomberg-

Fannie Mae (FNMA) and Freddie Mac were sued for unpaid transfer taxes by a Maryland county, which argued in a federal court filing that the home-mortgage finance companies can’t claim a government exemption from property fees.

Fannie Mae and Freddie Mac aren’t qualified for the exemption because they have been federally chartered, publicly traded, private-stock corporations since March 31, 2003, according to the complaint filed by Montgomery County yesterday in U.S. District Court in Beltsville, Maryland.

The companies “are not and have not been agencies, departments or instrumentalities of the United States for any time applicable to the claims made in the action,” according to the complaint.

The complaint also names the Federal Housing Finance Agency, which took Fannie Mae and Freddie Mac (FMCC) into U.S. conservatorship in September 2008.

[BLOOMBERG]

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