Mortgage giant Fannie Mae has used its regional partnership offices over the years primarily to lobby Congress instead of promoting affordable housing, the Department of Housing and Urban Development concluded after a yearlong review.
HUD opened a formal inquiry into the political activities of Fannie Mae’s regional offices in July 2004 following a Wall Street Journal story that said the company used its partnership offices to funnel money into key congressional districts.
For this complete story, please visit HUD Review: Fannie Mae Offices Misused.
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