Fannie And Freddie Fail On Oversight of Foreclosure Contractors, Housing Agency Report Says

Fannie Mae and Freddie Mac failed to keep tabs on thousands of contractors hired to manage more than 1 million foreclosed homes, possibly exposing the mortgage giants to double billing or charging for work that was never done, according to an alarming Federal Housing Finance Agency report.

Problems identified in the report, issued by the FHFA's

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