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Settlement Said to Be Near for Fannie and Freddie, Comes at an Awkward Time

Settlement Said to Be Near for Fannie and Freddie, Comes at an Awkward Time


POT MEETS KETTLE…

Lets guess they neither ADMIT nor DENY…as it always goes.

But hmmm…

“a settlement would represent the most significant acknowledgement yet … they [GSEs] played a central role”

Deal Time-

Regulators are nearing a settlement with Fannie Mae and Freddie Mac over whether the mortgage finance giants adequately disclosed their exposure to risky subprime loans, bringing to a close a three-year investigation.

The proposed agreement with the Securities and Exchange Commission, under the terms being discussed, would include no monetary penalty or admission of fraud, according to several people briefed on the case. But a settlement would represent the most significant acknowledgement yet by the mortgage companies that they played a central role in the housing boom and bust.

[NEW YORK TIMES]

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