OTHER NEWS - Oct. 8, 1991
From Times Staff and Wire Reports
Firms Agree to Pay Freddie Mac Fines: All of the Wall Street firms accused by the Federal Home Loan Mortgage Corp. of inflating orders and falsifying information agreed to pay penalties so that they could continue to sell its securities. The firms that sell debt for the agency known as Freddie Mac had faced a deadline Monday to comply with the sanctions or drop out of the dealer group. Freddie Mac, a government-sponsored enterprise that buys mortgages from lenders and repackages them into mortgage-backed securities to sell to investors, said last week that it would impose penalties on at least 18 of the 25 firms that sell its debt.Except for Salomon Bros., the firms have not been identified.
