Violation Tracker Individual Record

Company: 
Federal Home Loan Mortgage Corporation (Freddie Mac)
Penalty: 
$50,000,000
Year: 
2007
Date: 
September 27, 2007
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Federal Home Loan Mortgage Corporation (Freddie Mac) agreed to pay $50 million to settle allegations of securities fraud in connection with improper earnings management beginning as early as 1998 and lasting into 2002.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Virginia
Ownership Structure of Parent: 
government-sponsored
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
secondary mortgage market
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.