MCLEAN, Va., Nov 18, 2009 /PRNewswire-FirstCall via COMTEX/ -- The following statement was released today by Jeffery Markowitz, Vice President of Government and Industry Relations, Freddie Mac (NYSE: <fis:ticker> FRE </fis:ticker> ) in support of the Columbus, Ohio launch of the "Loan Modification Scam Alert" campaign by a coalition of federal agencies, non-profit organizations, and Freddie Mac:
"Loan modification fraud is nothing less than a pre-meditated attack on our communities and the housing recovery. Freddie Mac is proud to support this new campaign targeting the con artists who specialize in bilking the public with empty promises of quick fixes to mortgage problems.
"Long before the housing crisis began, attacking mortgage fraud has been a top priority at Freddie Mac. That's why we produce viral videos dramatizing loan modification scams, assist the FBI and law enforcement as they investigate and prosecute fraud artists, and spent the last decade launching local Don't Borrow Trouble anti-fraud campaigns across the nation. (For more information, see freddiemac.com/avoidfraud.)
"We look forward to working with the Treasury Department, the Federal Trade Commission, the U.S. Department of Housing and Urban Development, the Columbus Housing Partnership, NeighborWorks(R) America and the other coalition members to close the door on mortgage fraud."
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.
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