Milwaukee County will forge ahead with its tax lawsuit against Fannie Mae and Freddie Mac even while six similar cases from around the country have fizzled.
Attorneys representing all 72 Wisconsin counties in a class-action federal lawsuit against Fannie Mae and Freddie Mac are fighting to keep the case alive in the face of a request for dismissal.
The top federal prosecutor in Manhattan sued Bank of America for more than $1 billion on Wednesday for mortgage fraud against Fannie Mae and Freddie Mac during the years around the financial crisis.
Fannie Mae and Freddie Mac won the right to appeal a federal judge’s decision that they are liable for unpaid real estate transfer taxes in 82 of Michigan’s 83 counties.
A Wisconsin Counties Association committee Tuesday offered initial support for Milwaukee County’s class-action lawsuit against Fannie Mae and Freddie Mac over unpaid taxes.
Milwaukee County has taken another step toward recovering about $200,000 in unpaid taxes from Fannie Mae and Freddie Mac, but the state has not moved on the $800,000 it could be due.
Milwaukee County could miss out on at least $200,000 in real estate transfer returns if a federal lawsuit turns in favor of Fannie Mae and Freddie Mac.
