The Washington, D.C.-based watchdog organization Campaign for Accountability has called on the Department of Justice to investigate three former members of the Obama administration for revolving door practices related to the future of Fannie Mae and Freddie Mac.
In a Dec. 15 letter to the Justice Department, CFA Executive Director Anne Weismann asked for an investigation into the post-government activities of Mortgage Bankers Association President/CEO David Stevens, the former Assistant Secretary of Housing and Federal Housing Commissioner at HUD; Michael Berman, the former advisor to HUD Secretary Shaun Donovan; and Jim Parrott, the former adviser to Secretary Donovan.
Weismann cited a Dec. 7 New York Times article in which the three were reported to have assisted the nation's largest banks in their effort "to unseat Fannie Mae and Freddie Mac … and capture their share of the profits in the country's $5.7 trillion home loan market."
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