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Fannie, Freddie paid $50 million in fees to Florida law firms under investigation

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stated that Fannie Mae did not oversee the quality of these attorneys'. The failure to effectively manage this operational risk has come at a cost to FHFA and the. Housing Enterprise Oversight (OFHEO) – under which it was. significant reputational risk, and legal settlements with a value of $50 million or.

Fannie Mae and Freddie Mac approved law firms included some of the worst of the worst such as New York’s Steven Baum law firm (where employees at a firm Halloween party dressed as homeless people) or Florida’s Law Offices of David Stern where employees signed tens of thousands of documents to use as proof in their own foreclosure cases.

J.P. Morgan Securities – SEC charged the firm with misleading investors in a complex. of Fannie Mae and Freddie Mac with securities fraud for misleading investors about the.. Capital One agreed to pay $3.5 million to settle the SEC's charges.. (11/28/12); St. Joe Company – SEC charged the Florida-based real estate.

 · Five years later, appraisal firms, lenders and AMCs have now collectively paid more than $50 million in unpaid overtime, together with penalties, interest and attorneys fees. Here’s a warning about a fresh related employment law issue: a new trend touching more appraisal firms and similar businessesis the classification of workers as.

 · The widespread rumors of a government bailout of Fannie Mae and Freddie Mac have already had dramatic consequences, perhaps creating a self-fulfilling prophecy. Iain Dey and Dominic Rushe, writing for

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Freddie needs help, too. The Washington Examiner’s Joseph Lawler: "Freddie Mac joined Fannie Mae Thursday morning in announcing that it would need funds from the Treasury thanks to accounting losses.

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Since the government took over Fannie Mae and Freddie Mac, taxpayers. Mae and its officials in various securities suits and government investigations. have paid $24.2 million to law firms defending three of Fannie's former top. $18 million covered fees for lawyers for Fannie Mae officials below the.

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