Business Recorder - Business & Finance https://www.brecorder.com/ Business Recorder en-Us Copyright 2026 Thu, 13 Aug 2026 18:21:08 +0500 Thu, 13 Aug 2026 18:21:08 +0500 60 Fannie ex-CEO may face claims in SEC probe https://www.brecorder.com/news/6784/fannie-ex-ceo-may-face-claims-in-sec-probe <p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/pics2011/DANIEL-MUDD.jpg" width="400" height="499" />NEW YORK: Daniel Mudd, the former CEO of government-sponsored mortgage firm Fannie Mae, has received notice from US regulators that he may face claims for allegedly misleading investors about the mortgage company's exposure to subprime loans, Bloomberg said.</p> <p class="MsoPlainText">Mudd, who was ousted from Fannie Mae in 2008 and is now chief executive of hedge fund Fortress Investment Group LLC , confirmed he received a so-called Wells notice on Friday from the US Securities and Exchange Commission, and said he plans to rebut the allegations, Bloomberg said.</p> <p class="MsoPlainText">A Wells Notice is a letter from the SEC that warns people or firms the agency is considering a civil action against them.</p> <p class="MsoPlainText">Mudd could not immediately be reached for comment.</p> <p class="MsoPlainText"><Center /><b><i>Copyright Reuters, 2011</b></i><br /></center></p> NEW YORK: Daniel Mudd, the former CEO of government-sponsored mortgage firm Fannie Mae, has received notice from US regulators that he may face claims for allegedly misleading investors about the mortgage company's exposure to subprime loans, Bloomberg said.

Mudd, who was ousted from Fannie Mae in 2008 and is now chief executive of hedge fund Fortress Investment Group LLC , confirmed he received a so-called Wells notice on Friday from the US Securities and Exchange Commission, and said he plans to rebut the allegations, Bloomberg said.

A Wells Notice is a letter from the SEC that warns people or firms the agency is considering a civil action against them.

Mudd could not immediately be reached for comment.

Copyright Reuters, 2011

]]> Business & Finance https://www.brecorder.com/news/6784 Sat, 12 Mar 2011 18:18:24 +0500 none@none.com (Abdul Ahad)