Fannie Mae and Freddie Mac, the home mortgage-finance companies now under government control, were accused by Miami-Dade County, Florida, of failing to pay transfer taxes when they took ownership and sold thousands of foreclosed properties, Bloomberg News reported today. Harvey Ruvin, clerk of the courts for Miami-Dade County, sued the mortgage finance companies in federal court in Miami Oct. 29 alleging that Fannie Mae and Freddie Mac improperly claimed they are exempt from paying the tax, which amounts to 60 cents per $100 of the value of single-family residences. "Fannie Mae and Freddie Mac are parties to thousands of real estate transactions, particularly here in South Florida, and they are shirking their responsibility to pay their fair share of transfer taxes," said Adam M. Schachter, a lawyer for the county.
