Regulator To Hit Fannie Mae Execs With Lawsuit

Law360, New York (December 7, 2006, 12:00 AM EST) -- The Office of Federal Housing Enterprise Oversight plans to file a lawsuit against Fannie Mae chief Franklin Raines and other former executives of the mortgage giant within the next few weeks.

The OFHEO said Thursday that the organization would file the suit, which will make allegations about the executives’ role in the massive Fannie Mae accounting fraud scandal, by the end of the year.

The Office has also urged Raines and other executives to return bonuses and other compensation that they received in return for hitting...
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