6 Fannie Mae and Freddie Mac Top Executives Charged with Securities Fraud

6 Fannie Mae and Freddie Mac Top Executives Charged with Securities Fraud

The U.S. Securities and Exchange Commission on Friday charged 6 six Fannie Mae and Freddie Mac former top executives, including their former chief executives, with securities fraud. The U.S Securities and Exchange Commission allege that the 6 former executives misled investors about the extent of the their exposure to higher-risk subprime loans.

Fannie Mae, known officially as the Federal National Mortgage Association, and Freddie Mac, officially the Federal Home Loan Mortgage Corp., both entered into non-prosecution agreements with the commission. Each agreed to accept responsibility for their conduct without admitting or denying liability. Both government-sponsored enterprises also agreed to cooperate with the commission's actions against the former executives.

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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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