Fannie Mae is staying on the offensive against Wall Street.
Fannie Mae is reportedly suing nine banks for a total of about $800 million over alleged manipulation of the benchmark London interbank offered rate (Libor), the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks. Continue reading →
And how does this LIBOR scam affect the American homeowners and foreclosures? Prominent Hawaii foreclosure defense attorney said this, “raises questions about whether Libor Rates charged to many borrowers were all contrived.” Continue reading →