S.E.C. Versus Fannie and Freddie

According to the New York Times, civil actions have been brought upon former Fannie Mae and Freddie Mac executives for not properly disclosing the risky mortgages they had business with prior to the mortgage meltdown. Due to Fannie and Freddie's increasing reputation of risky business practices, these claims do not help the mortgage heavyweights. Two separate complaints have been recently filed against the following previous Fannie Mae and Freddie Mac executives:

• Fannie Mae
• Chief Executive, Daniel H. Mudd
• Chief Risk Officer, Enrico Dallavecchia
• Executive Vice President, Thomas A. Lund
• Freddie Mac
• Chief Executive, Richard F. Syron
• Chief Business Officer, Patricia Cook
• Executive Vice President, Donald J. Bisenius

The S.E.C. is taking this case very serious by indicating that all people involved in the misrepresentation of risky mortgages, regardless of their position, will be held accountable. Fannie Mae is fighting back by saying that the government had approved all of their files and that these claims are inaccurate. View the public Civil Action S.E.C. versus Mudd, Dallvecchia and Lund HERE