"These material misstatements occurred during a time of acute investor interest in financial institutions' exposure to subprime loans, and misled the market about the amount of risk on the company's books.
"Fannie Mae and Freddie Mac executives told the world that their subprime exposure was substantially smaller than it really was," said Robert Khuzami, Director of the SEC's Enforcement Division. Bisenius - in a separate complaint filed in the same court. Cook, and former Executive Vice President for the Single Family Guarantee business Donald J. Syron, former Executive Vice President and Chief Business Officer Patricia L. The SEC also charged three former Freddie Mac executives - former Chairman of the Board and CEO Richard F. District Court for the Southern District of New York. Lund - were named in the SEC's complaint filed in U.S. Mudd, former Chief Risk Officer Enrico Dallavecchia, and former Executive Vice President of Fannie Mae's Single Family Mortgage business, Thomas A. Three former Fannie Mae executives - former Chief Executive Officer Daniel H. Treasury, the role of the Federal Housing Finance Agency as conservator of each company, and the costs that may be imposed on U.S. In entering into these Agreements, the Commission considered the unique circumstances presented by the companies' current status, including the financial support provided to the companies by the U.S. Each also agreed to cooperate with the Commission's litigation against the former executives.
Non-Prosecution Agreement - Freddie Macįannie Mae and Freddie Mac each entered into a Non-Prosecution Agreement with the Commission in which each company agreed to accept responsibility for its conduct and not dispute, contest, or contradict the contents of an agreed-upon Statement of Facts without admitting nor denying liability.
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