Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 12/20/2011 list has been posted.
These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!
I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.
The U.S. Securities and Exchange Commission on Friday charged six former top executives of Fannie Mae and Freddie Mac, including their former chief executives, with securities fraud, alleging they misled investors about the extent of the mortgage giants’ exposure to higher-risk subprime loans.
Fannie Mae, known officially as the Federal National Mortgage Association, and Freddie Mac, officially the Federal Home Loan Mortgage Corp., both entered into non-prosecution agreements with the commission, each agreeing to accept responsibility for their conduct without admitting or denying liability. Both government-sponsored enterprises also agreed to cooperate with the commission’s actions against the former executives.
“Fannie Mae and Freddie Mac executives told the world that their subprime exposure was substantially smaller than it really was,” said Robert Khuzami, director of the SEC’s enforcement division, in a statement. “These material misstatements occurred during a time of acute investor interest in financial institutions’ exposure to subprime loans, and misled the market about the amount of risk on the company’s books.”
The lawsuits, filed in a federal district court in New York City, allege that the six former executives “caused the federal mortgage firms to materially misstate their holdings of subprime mortgage loans in periodic and other filings with the Commission, public statements, investor calls, and media interviews.” The suit against the former Fannie Mae executives also allege they underreported the firm’s exposure to Alt-A loans. The former Fannie Mae executives allegedly committed these actions between December 2006 and August 2008, while the former Freddie Mac executives allegedly committed them between March 2007 and August 2008.