Tagged: fannie mae

Oakland County officials hope their lawsuit against Fannie Mae and Freddie Mac goes to the U.S. Supreme Court.

The Oakland and Genessee County treasurers are both suing Fannie and Freddie because they didn’t pay millions in so-called “transfer taxes” on a number of real estate deals.

The mortgage giants have claimed that under federal law, they’re exempt from those state and local taxes because they’re government agencies.

A Wayne county man is facing criminal charges for allegedly defrauding federal real estate giants Fannie Mae and Freddie Mac.

Samer Salami, a real estate agent and broker for Fannie and Freddie,
is accused of obtaining properties they owned through Trademark
Assets--a shell company he secretly controlled--for an artificially
low price.

Salami would then turn around and sell the property to an actual,
higher bidder—pocketing the difference between the two sales, plus a
double commission.

Overall, it’s alleged Salami bilked the mortgage giants out of about
$488,000, through 22 such illegal housing sales in Wayne county.

A Detroit-based group of activists is working through the summer to help people facing foreclosure stay in their homes.

The Detroit Eviction Defense Coalition is affiliated with the Occupy Detroit movement. They held a rally Monday at the McNamara federal building to support Detroit homeowner Jennifer Britt, who faces eviction after a lengthy legal battle.