Gov’t Report: Fannie Knew of ‘Robo-signing’ in ’03
But did not act to stop them, a government watchdog says.
Palm Coast, FL – October 4, 2011
Mortgage giant Fannie Mae knew about allegations of improper foreclosure practices by law firms in 2003 but did not act to stop them, a government watchdog says.
Similar allegations are the subject of a probe by state attorneys general into how lenders and law firms ignored proper procedures to handle a crush of foreclosure paperwork.
An unnamed shareholder warned Fannie Mae of alleged foreclosure abuses in 2003, the inspector general for the agency that regulates Fannie says in a report being released Tuesday.
Full Story >>>> The Florida Times Union
Toby’s Commentary: Why am I not surprised?
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