FHFA May Bar Fraudsters From Fannie, Freddie Business

Law360, New York (June 18, 2012, 7:26 PM EDT) -- The regulator overseeing Fannie Mae and Freddie Mac will require the two failed mortgage giants to report any person or company they do business with that is convicted of fraud, and may bar the guilty companies from further transactions with the government-sponsored enterprises.

Fannie Mae, Freddie Mac and the Federal Home Loan Banks will begin sending the information to the Federal Housing Finance Agency on Aug. 15 under the new policy, called the Suspended Counterparty Program. The FHFA will then disseminate the information among all of...
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