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Wednesday, November 07, 2007

NY AG Subpoenas Fannie Mae, Freddie Mac

by Calculated Risk on 11/07/2007 12:25:00 PM

From Bloomberg: Cuomo Subpoenas Fannie Mae, Freddie Mac, on Washington Mutual

New York Attorney General Andrew Cuomo subpoenaed Fannie Mae and Freddie Mac ... seeking information on loans they bought from banks including Washington Mutual Inc.

Cuomo said he uncovered a ``pattern of collusion'' in appraisals on Washington Mutual loans. ...
The subpoenas also seek information on the due diligence practices of Fannie Mae and Freddie Mac and their valuations of appraisals.