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Meisner: Oakland County Wins Landmark Lawsuit Against Fannie Mae and Freddie Mac

Decision Means Millions for Oakland County Taxpayers

Public Date: March 23, 2012
Contact: Andy Meisner
Phone Number: 248-858-0624

Pontiac, Michigan -- Oakland County Treasurer Andy Meisner announced today that his first-in-the-nation lawsuit against Fannie Mae and Freddie Mac to recover millions of unpaid real estate transfer taxes was victorious in United States Federal District Court.  The ruling by Judge Roberts is attached. 

Order Granting Plaintiffs' Motion for Summary Judgment and Denying Defindants' Motion for Summary Judgment

"Some suggested that Oakland County suing mortgage giants Fannie Mae and Freddie Mac was a David versus Goliath matchup, and that we had no chance at recovering millions of dollars for Oakland County Taxpayers," said Oakland County Treasurer Andy Meisner.  "Today, we have proven them wrong, achieving a major victory and taking one step toward helping our County recover the property values we've lost as a result of the foreclosure crisis."

"The foreclosure crisis has cost Oakland County $14 billion in taxable value.  As County Treasurer I have been doing everything within my power to bolster our property values and hold those responsible for the foreclosure crisis accountable.  Today, Fannie and Freddie got the message that we're serious."