Mortgage finance company Fannie Mae acknowledged Tuesday that it spent more than $6,000 on a golf outing after it was seized by the government this year but said it is halting similar company- sponsored events.
Television station KTVT of Dallas-Fort Worth reported Monday night that Fannie paid for 20 golfers, including several company executives, to attend a Sept. 29 excursion in Texas. Fannie Mae, which did not dispute the report, described the event as a mortgage industry customer meeting held twice annually.
“We do regret that the activities surrounding the customer meetings in Dallas may be perceived as excessive,” company spokesman Brian Faith said in an e-mail. “We have ceased all similar activities as those associated with this event, and we regret having not done so in this case.”
