U.S. Circuit Court of Appeals Prohibits Judicial Review Against FHFA in Fannie Mae, Freddie Mac
U.S. Circuit Court of Appeals has concluded to bar judicial review against the Federal Housing Finance Agency of two mortgage lenders after 2008 crisis.
Tags: Fannie Mae
The US regulators announced that they would allow Freddie Mac and Fannie Mae to eliminate debt balances for several borrowers whose loan worth more than their assets. The debt reduction plan would serve as a final chance for earnestly delinquent debtors to save their homes from foreclosure.
A judge ruled that the Securities and Exchange Commission could take Daniel Mudd to trial over hiding Fannie Mae's exposure to risky loans. Mudd previously appealed to have the trial dismissed over lack of evidence.
The U.S. Securities and Exchange Commission has reached a settlement with two former Fannie Mae (FNMA.OB) executives in one of its biggest lawsuits tied to the financial crisis, and the two men agreed as part of the deal to cooperate with the SEC in its case against former Chief Executive Daniel Mudd.
More News
