Defendant Name: Federal Home Loan Mortgage Corporation

Defendant Type: Public Company

Document Reference: LR-22201

Document Details

Legal Case Name Non-Prosecution Agreement with Federal Home Loan Mortgage Corporation
Document Name SEC Charges Former Fannie Mae and Freddie Mac Executives with Securities Fraud
Document Date 20-Dec-2011
Document Format Civil Proceeding
Case Number NPA
Federal District Court New York, Southern District of New York
Federal District Judge Sullivan, J.
Allegation Type Issuer Reporting and Disclosure
Document Summary On December 20, 2011, the SEC announced that it charged Home Loan Mortgage Corporation and three of its former executives Richard F. Syron, Patricia Cook, and Donald Bisenius with "securities fraud, alleging they knew and approved of misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans."

Disgorgement & Penalty Information

Resolutions
Non-Prosecution Agreement

Related Documents:

2011-267-Fed Home Loan 16-Dec-2011 Press Release--Civil Action
SEC Charges Former Fannie Mae and Freddie Mac Executives with Securities Fraud: Companies Agree to Cooperate in SEC Actions
On December 16, 2011, the SEC announced that it charged six former top executives of the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac") with securities fraud, alleging they knew and approved of misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans. Fannie Mae and Freddie Mac each entered into a Non-Prosecution Agreement with the SEC in which each company agreed to accept responsibility for its conduct and not dispute, contest, or contradict the contents of an agreed-upon Statement of Facts without admitting nor denying liability. Each also agreed to cooperate with the SEC's litigation against the former executives. In entering into these Agreements, the SEC considered the unique circumstances presented by the companies' current status, including the financial support provided to the companies by the U.S. Treasury, the role of the Federal Housing Finance Agency as conservator of each company, and the costs that may be imposed on U.S. taxpayers.