Archive for December, 2010

Freddie Mac: Fighting “Fraud” or “Crying Wolf”?

Freddie Mac: Fighting “Fraud” or “Crying Wolf”?

Freddie Mac is once again lumping legitimate resale transactions in with the fraudulent ones in order to deflect accountability for its massive loan losses due to buying loans it had to know were bogus. The Freddie Mac web site has a new article dated September 27, 2010 rehashing old issues. This time it’s titled “Fighting Back Against Mortgage Fraud” and has a real, named author in Ed Haldeman, the CEO of Freddie Mac.