Fannie Mae, Freddie Mac Seen Dodging Billions in Write-Offs

Fannie Mae and Freddie Mac are ignoring billions of dollars in potential losses on delinquent loans as they take three years to adopt a new accounting system, a government auditor said in a letter made public today.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Fannie-Freddie-Seen-Dodging-Billions-Write-Offs-1038263-1.html

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