Fannie Mae-No Politics (FNMA)

[TheFinalCD]

HUGE NEW$$$$$$$$$$$$$$$$ OUT!!!!!!!!!! Fannie Mae Wins $66M In Fraud Suit Against NY Mortgage Co.



New York (June 24, 2013, 8:21 PM ET) -- A New York federal judge on Friday awarded Fannie Mae nearly $66 million in a constructive fraud case alleging principals in a now-defunct Brooklyn-based mortgage company created a scheme where they collected Fannie Mae payments after borrowers had paid off their loans.

Samuel Pinter, who co-founded Olympia Mortgage Corp. in 1986, and his brother Leib Pinter were ordered by U.S. District Judge Nina Gershon to pay various amounts that together cannot exceed $44.8 million plus prejudgment interest for contract damages the Federal National Mortgage Association says...

http://www.law360.com/securities/articles/452389/fannie-mae-wins-66m-in-fraud-suit-against-ny-mortgage-co-


Fannie Mae Regulator Sues the World
http://blogs.wsj.com/deals/2011/09/02/fannie-mae-regulator-sues-the-world/

As expected, the regulator overseeing Fannie Mae and Freddie Mac today sued many of the country’s biggest banks, claiming the government-owned entities were duped into buying tens of billions of dollars in mortgage securities that went south.

In a news release, the FHFA detailed the banks it is suing. And its filings also detail the amount of mortgage securities Fannie and/or Freddie purchased that these banks sold, underwritten or otherwise were involved in.

Ally Financial (ex-GMAC), $6 billion

Bank of America Corp., $6 billion

Barclays Bank, $4.9 billion

Citigroup, $3.5 billion

Countrywide, $26.6 billion

Credit Suisse Holdings USA, $14.1 billion

Deutsche Bank, $14.2 billion

First Horizon National, $883 million

General Electric, $549 million

Goldman Sachs, $11.1 billion

HSBC North America, $6.2 billion

J.P. Morgan Chase, $33 billion

Merrill Lynch/First Franklin Financial, $24.853 billion

Morgan Stanley, $10.58 billion

Nomura Holding America Inc., $2 billion

Royal Bank of Scotland Group, $30.4 billion

Societe Generale, $1.3 billion

Check out the FHFA’s handy link to all the lawsuits here.
http://www.fhfa.gov/Default.aspx?Page=110