Employees of Fannie Mae and Freddie Mac descended on the Florida law offices of David J. Stern seven or eight times during 2008 to scrutinize the firm’s processing of foreclosures. They made one major demand, according to a former employee.
“Pick up the speed.”
Fannie and Freddie, the wards of Washington that own more than half the nation’s mortgages, have largely avoided being scrutinized during the uproar over fast-and-loose foreclosures, Binyamin Appelbaum reports in The New York Times.
via Questions on Fannie’s and Freddie’s Oversight of Foreclosures – NYTimes.com.
