Fannie, Freddie Exempt From NJ Transfer Taxes, Judge Rules

Law360, New York (April 30, 2013, 2:19 PM EDT) -- A New Jersey federal judge on Tuesday dismissed a putative class action launched by Cape May County, N.J., alleging that Fannie Mae and Freddie Mac failed to pay transfer taxes on foreclosures in multiple states, agreeing that federal law exempts the mortgage giants from all taxation.

U.S. District Judge Robert B. Kugler issued a brief one-page order Tuesday granting a motion from Fannie Mae, Freddie Mac and their conservator, the Federal Housing Finance Agency, to dismiss the putative class action alleging the government-backed mortgage giants failed...
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