Regulator “Likely” To Sue Ex-Fannie Mae Execs

Law360, New York (September 13, 2006, 12:00 AM EDT) -- Fannie Mae’s chief regulator said Wednesday that his agency, the Office of Federal Housing Enterprise Oversight (OFHEO), will probably initiate lawsuits against former Fannie Mae executives who directed the company amid its $10.6 billion accounting misdeeds.

“We will more than likely be filing litigation against them,” OFHEO Director James Lockhart said during a conference break at the American Enterprise Institute, a Washington, D.C. think tank.

Although Lockhart did not mention when the agency may file a lawsuit, he did say former chairman and chief executive Franklin...
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