Fannie, Freddie Hit With Class Action Over Taxes

Law360, New York (June 21, 2012, 2:01 PM EDT) -- A Florida county has targeted the agency overseeing Fannie Mae and Freddie Mac with a class action aiming to collect millions of dollars in taxes allegedly evaded by the housing giants — one of possibly many lawsuits after a recent Michigan federal court ruling.

The federal complaint, filed June 15 by Hernando County Clerk Karen Nicolai, alleges Fannie and Freddie improperly claimed they were government entities exempted from a tax of 7 cents on the dollar applied to property transfers. In addition, the enterprises wrongly said...
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