The reports mention an announcement from the company that claims that the redundancies took place because of ethical violations that result from the “matching gifts program” by Fannie Mae, which the company Described earlier As a method for employees to “double the financial impact of their eligible donations through our Matching Gifts program up to a maximum of $ 5,000 per year.”
There were no official, public announcements regarding the dismissal on the Fannie Mae website, nor were press releases distributed to the media about the relocation. But the earlier report states that after an internal investigation Fannie Mae has established that the corresponding gift program was inappropriate by the employees who struck it.
About 400 of the dismissals took place on 3 April with a further 300 place the next day, according to the reports, in which Fannie Mae reportedly stated: “That these actions were needed to tackle irregularities discovered in his internal investigations. The company emphasized his dedication to ethical practices and accountability, according to the Technical report.
The Times of India added that “some employees would have collaborated with non-profit organizations such as such as Telugu Association of North America (Tana) to mislead companies. “
Housing handed to representatives of both the Federal Housing Financing Office (FHFA) and Fannie Mae for additional details, but did not receive an immediate response.
FHFA director Bill Pulte has made a series of radical changes in the GSE Senate. In mid -March, Pulte removed various members of the boards of directors at both Fannie Mae and Freddie MacInstall themselves as chairman of the board of both companies.
Pulte has also pointed out to the implementation of holistic assessments of remote work policy and payment schedules, but has also shown that he would not move to lower the limits of the loans at one of the GSEs. Democratic senators recently also questioned the legality of his movements on both FHFA and the GSEs.
