HUD Review: Fannie Mae Offices Misused

The AP reports on the Fannie way:

Mortgage giant Fannie Mae has used its regional partnership offices over the years primarily to lobby Congress instead of promoting affordable housing, the Department of Housing and Urban Development concluded after a yearlong review.

HUD opened a formal inquiry into the political activities of Fannie Mae's regional offices in July 2004 following a Wall Street Journal story that said the company used its partnership offices to funnel money into key congressional districts.


HUD, which refused to release its report to the public, said in a statement Monday that Fannie's congressional charter allows it to set up regional offices to promote affordable housing.

The scandals never end with this government favored company.