Court Dismisses Two Suits On Fannie Mae, Freddie Mac Profits

Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) investors suffered a major blow. They lost their legal challenge to a change in the mortgage giants’ 2008 bailouts that sent nearly all their profits to the U.S. Treasury. The U.S. faces almost 20 federal actions brought by investors who claim they’ve been barred from participating in the post-bailout profits earned by the mortgage giants. Dismissal of two lawsuits On Tuesday, a judge in the U.S. District Court for the District of Columbia dismissed claims brought against the federal government and U.S. officials by…