Ohio county sues Fannie, Freddie over taxes
The headquarters of Fannie Mae are seen October 21, 2010 in Washington, DC.
Photographer: (Photo by Win McNamee/Getty Images)
Copyright Getty Images
Posted: 07/25/2012
DAYTON, Ohio - County officials in southwest Ohio have filed a class action lawsuit against two mortgage giants they say owe millions in unpaid taxes.
Montgomery County filed a federal lawsuit Wednesday that says Fannie Mae and Freddie Mac wrongfully claimed various exemptions to avoid paying transfer taxes to state counties.
Transfer taxes are owed to a county when a deed is recorded. The lawsuit claims the companies didn't pay transfer taxes involving banks that foreclosed on homes and new homeowners. Officials say both companies filed for exemptions as government entities and other inapplicable exemptions for an unspecified time.
The lawsuit involves most state counties. Summit County has filed an individual case.
A Fannie Mae representative says the company cannot comment on pending litigation. A Freddie Mac representative could not be immediately reached.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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