Britta Rivera Venture

CHICAGO REAL ESTATE NEWS & MORE

2011: FANNIE MAE & FREDDIE MAC FILES LAWSUIT AGAINST LARGE FINANCIAL INSTITUTIONS

Just when we thought the housing crisis disputes were over, a huge lawsuit is now brewing. It was reported that the federal agency overseeing Fannie Mae and Freddie Mac has just filed lawsuits against 17 major financial institutions.

The lawsuits were filed in an attempt to recover losses from risky mortgage investments revealed during the housing crisis. The lawsuit names many of the largest Wall Street and financial firms including; Citigroup, Goldman Sachs, Bank of America and JP Morgan Chase.

This shake-up comes years after the start of the market slump, so this late filing may be a surprise to many. It will be interesting to see the outcome and it’s good to see someone will hopefully pay for this mess.

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September 3, 2011 - Posted by | Uncategorized | , , , , , , , ,

1 Comment »

  1. […] 2011: Fannie Mae & Freddie Mac Files Lawsuit Against Large Financial Institutions (brittariveraventure.wordpress.com) […]

    Pingback by Fannie Mae and Freddie Mac Massive Refinancing Program to Be Proposed – Will This Fix the Housing Market? « John Murphy Reports | September 7, 2011 | Reply


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