Fannie Mae, Freddie Mac Sued Over Transfer-Tax Nonpayment

, Texas Lawyer


A nationwide suit on behalf of county land officials is challenging Fannie Mae and Freddie Mac's refusal to pay transfer fees on property. The suit, filed in federal court in Camden, N.J., on July 27, charges that the federally chartered finance companies "have engaged in a nationwide effort to avoid their financial obligations . . . by claiming inapplicable exemptions and depriving counties and states of sorely needed revenue."

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