Fannie Mae-No Politics (FNMA)

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Countrywide found guilty in U.S. mortgage suit
Wed, Oct 23 · BAC

A federal jury has found Bank of America's (BAC -2.1%) Countrywide unit liable for defrauding Fannie Mae (FNMA +22%) and Freddie Mac (FMCC +19.4%) by selling them thousands of defective mortgages.
The judge will determine the amount of the penalty - the U.S. has requested $848M, the gross loss to the GSEs as calculated by its expert witness.
The suit centered on Countrywide's HSSL - High Speed Swim Lane - program instituted in August 2007, says the government, to keep the music playing as the property market was falling apart.