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Fox seeks probe of Fannie Mae. (Rep. Jon D. Fox; Federal National Mortgage Association)
WASHINGTON, D.C. - U.S. Rep. Jon D. Fox (R-Montgomery County) has asked two federal agencies to conduct separate investigations into actions by a government-chartered corporation that put a Bala Cynwyd, Pa., mortgage company out of business without giving its owner a reason.
The U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury this week responded to Fox's request by promising to look into Federal National Mortgage Association's unannounced raid of Peoples Mortgage Co.'s office in May 1991 and its permanent suspension of the $2 million company's contract to sell and service mortgages, Fox said.
Jan Friis, Fox's chief of staff, said Fox was prepared to ask for civil and even criminal sanctions against FNMA employees involved in the Peoples Mortgage case if results of the …
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