SEC charges ex-Fannie, Freddie CEOs with fraud
WASHINGTON (AP) — The Securities and Exchange Commission on Friday brought civil fraud charges against six former top executives at Fannie Mae and Freddie Mac, saying they misled investors about risky subprime loans the mortgage giants held when the housing bubble burst. Those charged include the agencies’ two former CEOs, Fannie’s Daniel Mudd and Freddie’s Richard Syron. They are the highest-profile individuals to be charged in connection wit...
Nevada tops nation in foreclosures for 59th month
LAS VEGAS (AP) — Nevada has posted the nation’s highest state foreclosure rate for the 59th straight month in November even while analysts say a new state law passed in October is keeping activity artificially low. For the second month in a row, the slowdown kept Las Vegas out of its former spot as foreclosure rate capital in the U.S. The city stands at No. 6. Data released Thursday by RealtyTrac Inc. shows 6,512 Nevada housing units saw a for...