FHFA Anti-Fraud Measures for Fannie, Freddie and Federal Home Loan Banks

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On June 18, the FHFA announced the Suspended Counterparty Program, an initiative to require Fannie Mae, Freddie Mac and the Federal Home Loan Banks to notify the FHFA whenever an individual or company with whom they do business is adjudicated to have engaged in fraud or other financial misconduct. The FHFA will determine whether the individual or company should be suspended from doing business with Fannie Mae, Freddie Mac or the Federal Home Loan Banks. The program becomes effective on August 15. FHFA Release.

Published In: Administrative Agency Updates, Business Torts Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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