Fannie Mae, Freddie Mac to close NY offices over AG Letitia James' 'corrupt and dangerous business practices': report

The offices of Fannie Mae and Freddie Mac are set to shutter their New York offices over Attorney General Letitia James' "corrupt and dangerous business practices."

A source in the Federal Housing Finance Agency (FHFA), which oversees government-sponsored enterprises such as Fannie Mae and Freddie Mac, told Fox News, "We are shutting down the two New York offices for Fannie and Freddie as a result of Letitia James' corrupt and dangerous business practices in the state."

"We'll still employ New York residents, and we'll still continue to do mortgage loans in New York, of course. But we are going to eliminate our physical presence. And to the extent that we have leases, we are going to be subleasing those," the source added.