4 Fannie Mae Staffers Placed On Administrative Leave Pending Investigation

Four Fannie Mae staffers have been placed on administrative leave while federal investigators probe a series of foreclosed apartments the enterprise sold.

Details were thin, but WSJ reports the probe seems to hone in on a single deal involving the government-owned company’s bulk sale of distressed apartment buildings to a New York developer.

Law enforcement officials met with senior Fannie Mae managers last week in a series of voluntary meetings about the matter.

“The investigation is limited in scope and we are cooperating fully with FHFA and the OIG [Office of the Inspector General],” a Fannie spokesperson told WSJ. “Consistent with our usual practice, we placed employees on administrative leave pending the outcome of the review.”

Fannie Staffers on Leave Pending Probe [WSJ]