Volume 14 - Number 4
February 21, 2014
CFC Seeks Court Sanctions Against FHFA for MBS Document Delays
Countrywide Financial, now owned by Bank of America, is asking a federal judge to sanction the Federal Housing Finance Agency and to appoint a special master to investigate what CFC says is the FHFAs noncompliance in producing Fannie Mae and Freddie Mac documents in the companys defense against the GSEs $26.6 billion MBS lawsuit. According to a motion filed earlier this month in the U.S. District Court, Central District Court of California, CFC says the FHFA is defying the courts October order to produce either in a timely manner or not at all documents from Fannies and Freddies single-family businesses.
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