Federal National Mortgage Association
Recent News About Federal National Mortgage Association
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Appeals panel: Chicago can tax people who buy homes from Fannie Mae, Freddie Mac
Chicago City Hall can tax home sales involving Fannie Mae or Freddie Mac because they are not really federal agencies, a state appeals panel has ruled. -
Illinois appeals court: Chicago can’t bill Fannie Mae for demolition of Englewood building
A state appeals court has denited the city of Chicago's bid to charge federal mortgage lender Fannie Mae for the cost of demolishing a South Side building the lending company did not own when it was torn down. -
Chicago can't collect real estate transfer tax from buyers of homes sold by Fannie, Freddie, judge says
The city of Chicago should not be allowed to sidestep laws barring cities from collecting taxes on real estate sold by federal mortgage lending giants Fannie Mae and Freddie Mac by simply passing on the tax bills to those buying the properties from Fannie and Freddie, a federal judge has ruled. -
Class action demands Chicago refund all property transfer taxes charged to buyers of Fannie Mae foreclosures
A woman who bought a home last year in Chicago’s Ravenswood neighborhood believes the city improperly charged her taxes on her purchase of the formerly foreclosed property from Fannie Mae, and she has filed a class action to demand the city pay her back, as well as perhaps thousands of others who have paid real estate transfer taxes to the city for property they, too, purchased from either of the federal mortgage giants. -
Condo foreclosure doesn't eliminate new owners' obligations to pay past owners' association fees, IL Supreme Court says
The Illinois Supreme Court has ruled unpaid condominium association assessments are not erased through foreclosure, unless the new owner forks over their first post-purchase assessment payment on time, otherwise they have to pick up the tab. The high court’s decision was delivered Dec. 3 by Justice Thomas Kilbride, with the rest of the court concurring. -
Wood Dale residents say Seterus, Fannie Mae cheated them into foreclosure, wrongly took their home
Two Wood Dale residents have sued Fannie Mae, alleging the federal mortgage agency was in cahoots with a private home loan servicing company to hoodwink them into surrendering their house to foreclosure, under the guise they were late on loan payments. -
Fannie Mae: Chicago can't collect transfer taxes on foreclosed properties sold by federal agencies
Fannie Mae, the federally-controlled largest provider of funding for mortgage loans in the country, has sued the city of Chicago in federal court to ask a judge to halt the city’s efforts to collect real estate transfer taxes on the residential properties the agency sells. On Oct. 15, the Federal National Mortgage Association, commonly known as Fannie Mae, and the Federal Housing Finance Agency, the federal agency which oversees Fannie, filed its complaint in federal court in Chicago against