Fannie Mae; Freddie Mac; California; subpoena - latimes.com
The subpoenas ask the government-controlled finance companies to answer a series of questions about their activities in California, including their roles as landlords who own thousands of foreclosed properties. The attorney general's office is also seeking details of Fannie and Freddie's mortgage-servicing and home-repossession practices, according to a person familiar with the matter.
In addition, investigators want to learn more about the companies' purchases and sponsorship of securities holding "toxic mortgages" in the Golden State, said the person, who was not authorized to speak on the matter and requested anonymity.
Must be nice having an attorney general (Kamala Harris) who dares to take on these behemoths. She is resisting Obama administration pressure to sign off on the ridiculous multi-state slap on the wrist settlement with the big banks that have committed millions of cases of mortgage fraud and perjury from coast to coast.