Former Fannie CEO Refuses to Settle, Argues to Drop Case
February 5, 2016
The former CEO of Fannie Mae is not backing down in his defense that he did nothing wrong in a lawsuit stemming from the Securities and Exchange Commission accusing him of hiding faulty mortgages during the housing crisis. Daniel Mudd is one of three Fannie executives against whom the SEC brought civil fraud charges in 2011. The other two, Thomas Lund, former single family mortgages vice president, and Enrico Dallavechia, a risk officer, settled in September of last year. The court ordered Dallavechia to pay the Treasury $25,000, and Lund was ordered to pay $10,000.But Mudd maintains his innocence and refuses to settle. Last week his lawyer argued in court...