May 21, 2018 / 8:00 PM / 2 years ago

Homeowners may sue Fannie Mae over foreclosure reporting - ruling

Housing finance giant Fannie Mae must face a proposed class action accusing it of violating California and federal law by falsely reporting that consumers’ homes were foreclosed on, a federal judge in San Francisco ruled.

In a decision on Friday, U.S. District Judge William Orrick said the consumers had plausibly alleged that Fannie Mae willfully violated the U.S. Fair Credit Reporting Act (FCRA) and a comparable California law by failing to assure the accuracy of reports it provided to lenders.

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