Gunning For WaMu, Cuomo Subpoenas Mac And Mae

Law360, New York (November 7, 2007, 12:00 AM EST) -- New York Attorney General Andrew M. Cuomo has roped the U.S.'s two largest mortgage financiers, Fannie Mae and Freddie Mac, into his investigation of allegedly inflated mortgage appraisals at Washington Mutual Inc.

Cuomo has issued subpoenas under the Martin Act compelling information on the two financiers' purchases of mortgages and mortgage-backed securities, including those from WaMu, as well as details of their due diligence practices, the attorney general's office announced Wednesday.

Cuomo's office also disclosed that the two companies agreed to retain an attorney general-approved Independent...
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