One is the MERS recording fee qui tam and the other is for false claims of tax exemption made to avoid payment of transfer taxes on foreclosures taken by Fannie and Freddie. One week after Fannie was served with the NV transfer tax qui tam, the Federal Housing Finance Association ordered Freddie and Fannie to de-list from the New York Stock Exchange. Please note in the transfer tax complaint which lays out the factors the courts have looked at in determining without exception going back to the 1970’s that Fannie and Freddie are not tax-exempt for purposes of state transfer taxes. The 9th Circuit so ruled in 1996. Robert Hager, Esq. estimates the penalties and treble damages for unpaid taxes in the transfer tax case in NV to be $300 M to $500 M.
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: | bankruptcy, borrower, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, LOAN MODIFICATION, modification, quiet title, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND