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Home » Store » Taxable » Fannie Mae Accuses NY Mortgage Company Of Fraud, Urges Court to Appoint Receiver

Fannie Mae Accuses NY Mortgage Company Of Fraud, Urges Court to Appoint Receiver

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Fannie Mae is moving to shut down a mortgage company in New York and recover at least $44 million in funds that the government-sponsored enterprise said were illegally obtained through a fraud scheme that involved at least 260 loans. The giant GSE made headlines last week after reports surfaced that Fannie purportedly failed to notify regulators about problems it was having with First Beneficial Mortgage, a North Carolina lender that tried to perpetuate its illegal…
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