Fannie Claims For Bogus IndyMac Loans Increase

Housing Wire is now reporting that Fannie Mae is trying to get $10 billion instead of the originally reported $1 billion from the FDIC. Fannie claims that IndyMac stuck them with this amount of fraudulent loans which the FDIC as the receiver is now liable for.

You may recall that I previously cited this story as a possible impediment to the sale of IndyMac. Well that sale was consummated but according to Housing Wire’s sources, the FDIC had to hold onto the disputed mortgages. At that time the reported amount in dispute was $1billion, now it is ten times that amount. This is a potential body blow to the FDIC and should cause some sharp pencils to come out and look once more at the terms of the┬ásale of IndyMac.

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