Fannie, Freddie Should Face Local Taxation, 3rd Circ. Told

Law360, Philadelphia (January 22, 2014, 2:37 PM EST) -- Fannie Mae and Freddie Mac’s federal charters should not bar the housing giants from paying transfer taxes on foreclosed properties, an attorney representing a handful of county governments in Pennsylvania and New Jersey told the Third Circuit during oral arguments on Wednesday.

An attorney for the counties told a three-judge panel that Fannie and Freddie could not rely on language in their congressionally approved charters exempting them from all state and local taxation to avoid paying real estate transfer taxes because it was not a valid...
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