The home mortgage business gets ugly: Fannie Mae and Freddie Mac threaten board members of a watchdog group.
"FM Watch, a coalition of banking groups critical of Fannie Mae and Freddie Mac founded two years ago, says both government-sponsored secondary mortgage market companies have been threatening FM Watchs board members for their involvement with the group. ... Two FM Watch board members, Maurice Greenberg, chairman of American International Group, Inc., and Richard M. Kovacevich, president and CEO of Wells Fargo & Co., said Fannie Mae and Freddie Mac threatened to limit business with their lending firms because of their ties to FM Watch, the Wall Street Journal reported last week."
Thanks to Inman News Service
FULL STORY: Was that a threat?
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