Fannie Mae ignored misconduct
Headline News
Mortgage giant Fannie Mae knew about allegations of improper foreclosure practices by law firms in 2003 but did not act to stop them, a government watchdog says.
Similar allegations are the subject of a probe by state attorneys general into how lenders and law firms ignored proper procedures to handle a crush of foreclosure paperwork.
An unnamed shareholder warned Fannie Mae of alleged foreclosure abuses in 2003, the inspector general for the agency that regulates Fannie says in a report being released Tuesday.
Fannie Mae responded by hiring a law firm to investigate the claims in 2005. The law firm reported in 2006 that it had found foreclosure attorneys in Florida "routinely filing false pleadings and affidavits."
Fannie officials said they told a government official about the law firm's findings in 2006. That unnamed official, who now works for Fannie's regulator, the Federal Housing Finance Agency, said he couldn't recall the conversation, the report says.
Fannie began using a network of attorneys in 1997 to help handle foreclosures, evictions and bankruptcies. In 2008, the network grew to 140 law firms. And the number of foreclosures in Fannie's portfolio reached historic highs. Foreclosures more than doubled from 2007 to 2008. They grew 50% in 2009.
Related listings
-
SC attorney general, treasurer clash on lawyers
Headline News 09/15/2011South Carolina's treasurer and attorney general are clashing over a plan to use law firms to review state pension fund investments for fraud and underscoring a soured relationship for top Republicans. Attorney General Alan Wilson said Wednesday that ...
-
Former Kansas AG Six joins Missouri law firm
Headline News 09/15/2011Former Kansas Attorney General Steve Six has joined a law firm in Kansas City, Mo., as a partner. The firm of Stueve Siegel Hanson LLP announced Wednesday that Six will work in its commercial litigation, public client and personal injury practices. S...
-
Calif. gay marriage ban faces next legal hurdle
Headline News 09/06/2011California's same-sex marriage ban faces its next legal test Tuesday when the state's highest court attempts to shed light on whether the voter-approved measure's backers have legal authority to appeal the federal ruling that overturned Proposition 8...
Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.