"We are shutting down the two New York offices for Fannie and Freddie as a result of Letitia James' corrupt and dangerous business practices in the state,"
"We'll still employ New York residents, and we'll still continue to do mortgage loans in New York, of course. But we are going to eliminate our physical presence. And to the extent that we have leases, we are going to be subleasing those,"
"defend the rights of New Yorkers and the rule of law."
FHFA will permanently close the physical New York offices of Fannie Mae and Freddie Mac in response to Attorney General Letitia James' corrupt and dangerous business practices. The FHFA will continue employing New York residents and making mortgage loans in New York while eliminating its physical presence and subleasing any leases. A public announcement was scheduled for Thursday. The FHFA oversees Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System. The closure follows a DOJ investigation into James' personal mortgages after FHFA chief Bill Pulte sent a criminal referral, and follows James' history of legal challenges against former President Trump.
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