The U.S. Securities and Exchange Commission on Friday charged six former top executives of Fannie Mae and Freddie Mac, including their former chief executives, with securities fraud, alleging they misled investors about the extent of the mortgage giants’ exposure to higher-risk subprime loans.

In two separate lawsuits, the SEC filed charges against three former Fannie Mae executives: former CEO Daniel H. Mudd; former chief risk officer Enrico Dallavecchia; and former executive vice president of Fannie Mae’s single-family mortgage business Thomas A. Lund; and three former Freddie Mac executives: former chairman of the board and CEO Richard F. Syron; former executive vice president and chief business officer Patricia L. Cook; and former executive vice president for the single-family guarantee business Donald J. Bisenius.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top