Federal mortgage giant Fannie Mae was told in 2006 about faulty court documents filed by Florida foreclosure attorneys acting on its behalf but did nothing to correct the practices, an inspector general found.
A report issued Friday by the Federal Housing Finance Agency Office of Inspector General said an outside law firm Fannie Mae hired to investigate allegations of wrongdoing confirmed “unlawful” practices and stated that foreclosure attorneys were sacrificing accuracy for speed by filing false documents.
After learning of the attorney misconduct in 2006, Fannie Mae failed to make any improvements in its oversight of the firms.
via Fannie Mae ignored robo-signing abuses in Florida foreclosures, investigation finds.