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Report: Bachmann Benefited From Fannie or Freddie Loan Report: Bachmann Benefited From Fannie or Freddie Loan

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Politics / CAMPAIGN 2012

Report: Bachmann Benefited From Fannie or Freddie Loan

Rep. Michele Bachmann, R-Minn.(Nicholas Kamm/AFP/Getty Images)

photo of Lindsey Boerma
July 27, 2011

Rep. Michele Bachmann, R-Minn., one of the most vocal critics of government-backed loan programs, benefited from exactly that when she took out a home loan in 2008, the Washington Post reported on Wednesday.

According to mortgage experts who reviewed her loan documents, the loan that Bachmann and her husband, Marcus, took out three years ago to help finance their new $417,000 home offered lower costs to the borrower via either Fannie Mae or Freddie Mac – both favorite punching bags for Bachmann, who has called for dismantling them.

It’s just the latest in a series of financial reports plaguing Bachmann’s presidential campaign. Recently, she and her family came under scrutiny for having accepted subsidies for both a family farm and for Bachmann & Associates counseling clinics.

 

Though her campaign declined to comment on the newfound loans, Bachmann spokesman Doug Sachtleben said in an e-mail to The Post: “The Congresswoman’s personal financial disclosures will speak for themselves.”

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