Tag Archives: FHFA Tries to Halt Real Estate Transfer Taxes

Joining other states considering similar moves across the country, the Illinois Department of Revenue plans to bring taxes on real estate transferred to and from mortgage giants Fannie Mae and Freddie Mac, including charges for foreclosed properties. But the Federal Housing Finance Agency (FHFA) is trying to stop such taxes. It has filed a lawsuit against Illinois to prevent the state from charging real estate transfer taxes to Fannie Mae and Freddie Mac. FHFA argues in the lawsuit that the government-sponsored enterprises should be exempt because they are under conservatorship […]