FHFA Suits Put Fannie, Freddie Under Microscope

Law360, New York (September 6, 2011, 7:36 PM EDT) -- The federal agency overseeing Fannie Mae and Freddie Mac will face tough questions about what the two mortgage giants knew about the quality of mortgage-backed securities in its quest to recover billions of dollars lost in those investments from the banks that issued and underwrote them, observers say.

The Federal Housing Finance Agency slammed Bank of America Corp., Goldman Sachs & Co. and a host of others on Friday, filing 17 complaints in New York and Connecticut federal courts, as well as the New York Supreme...
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