Fannie & Freddie execs face lawsuits - WAOW - Newsline 9, Wausau News, Weather, Sports

Fannie & Freddie execs face lawsuits

(CNN)--Six former Fannie Mae and Freddie Mac executives face securities fraud charges.

  The Securities and Exchange Commission announced the charges today (Friday).. saying the executives misrepresenting their holdings of high-risk mortgage loans. Those facing charges include former Freddie Mac C-E-O Daniel Mudd and former Fannie Mae C-E-O Richard Syron.

  The S-E-C wants financial penalties against the six... but they did not say how much.The mortgage finance giants played a central role in the housing market fiasco by keeping the cost of mortgages lower.

  They received the biggest federal bailout of the financial crisis.

Powered by Frankly