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Article: NEW YORK ATTORNEY GENERAL CUOMO SENDS LETTERS OF NOTICE AND DEMAND TO FREDDIE MAC, FANNIE MAE

Article from:
US Fed News Service, Including US State News
Article date:
November 7, 2007
Copyright

The New York State Attorney General issued the following news release:

Attorney General Andrew M. Cuomo today announced his office has sent Letters of Notice and Demand, providing notice of the issuance of Martin Act subpoenas and a demand for an Independent Examiner, to the nation's two largest financiers of home mortgages, Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE). Cuomo also announced that Fannie Mae and Freddie Mac have agreed to the demand to retain an Independent Examiner, subject to the Attorney General's approval, to conduct a total review of all Washington Mutual (NYSE: WM) appraisals and mortgages purchased by the companies.

The Martin Act subpoenas sent by Cuomo seek ...

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