Former Fannie execs denied dismissal of subprime fraud suit

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Former fannie execs denied dismissal of subprime fraud suit Former Fannie Mae CEO to face SEC charges for subprime mortgages Ben Lane is the Editor for HousingWire.

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[Update: Article updated with status of litigation against fomer Fannie Mae ceo daniel mudd.] A 2011 lawsuit brought by the Securities and Exchange Commission against two former Fannie Mae executives over charges that the fannie execs misled investors about the quality of subprime mortgages, is over, and it ended with a whimper.

The SEC suit alleges that while Freddie Mac’s CEO and executive vice president publically stated that the company had basically no subprime exposure, the company was in fact exposed to $141.

(Reuters) – Three former senior Fannie Mae executives lost their bid to dismiss a U.S. Securities and Exchange Commission civil fraud lawsuit accusing. in selling $1.3 billion of subprime mortgage.

Former Fannie Mae CEO Daniel Mudd has urged a federal judge to dismiss a lawsuit filed against him by the Securities and Exchange Commission (SEC) accusing Mudd of shielding risky subprime loans.

as the agency launched a similar lawsuit against three ex-Fannie Mae executives, including former chief executive Daniel Mudd. U.S. District Judge Paul Crotty denied the Fannie executives’ bids to.

Law360, New York (March 29, 2013, 10:56 PM EDT) — The former Freddie Mac CEO and other erstwhile executives lost a bid Thursday to shake off a fraud suit. giant’s subprime risk. U.S. District.

Federal authorities are investigating possible fraud at General Electric Co.'s former subprime mortgage arm amid increased public pressure to hold Wall. A spokesman for the FBI declined to comment, and the Justice Department did not return telephone calls.. Other executives are contesting the suits.