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Home » Store » Taxable » Judge Orders Fannie to Cough Up $6.5 Million to Repay Ginnie Mae in FHA Mortgage Fraud Case

Judge Orders Fannie to Cough Up $6.5 Million to Repay Ginnie Mae in FHA Mortgage Fraud Case

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A federal court judge has ordered Fannie Mae to pay $6.5 million to compensate Ginnie Mae for losses the government agency reportedly took because of a fraud scheme that Fannie discovered but kept quiet about. In an order entered last month – and only recently unsealed – the U.S. District Court for the Western District of North Carolina said that the government had established the “requisite nexus” between funds deposited into a Fannie Mae…
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