Despite the real-estate downturn, former Fannie Mae head Frank Raines and his soon-to-be ex-wife, Wendy, are helping to boost luxury home sales.
This spring, news broke that former Fannie Mae head Frank Raines and Wendy, his wife of more than 25 years, were filing for divorce. In March, they put Beechwoods, their seven-bedroom, eight-bath Forest Hills Colonial on the market for $8.3 million—and hit the streets separately to home shop.
Frank Raines spent $4.9 million on a condo in the West End’s Ritz Carlton Residences. Click here to see pictures of the lavish three-bedroom, seven-bath condo, which has a private terrace with a hot tub. Across town, Wendy Raines spent $4.3 million on this five-bedroom, six-bath Colonial in Cleveland Park. Built in 1910, the house listed for $4.5 million and has a pool and elevator.
Now they need to sell Beechwoods, which is proving difficult. The palatial Colonial is still sitting, and the list price recently dropped to $7,595,000.
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Posted by: Smith, Apr 15, 2010 02:14:12 AM
Keep me posted on Frank’s career plans.
Posted by: Anna-Marie Booth, Mar 29, 2009 12:18:10 PM
You know that monkey is up to no good.
Posted by: R Parker Harrington, Mar 05, 2009 05:02:14 AM
I saw Frank in front of the house and thought he was the groundskeeper
Posted by: king_rocket, Mar 05, 2009 04:49:07 AM
I heard a rumor that Frank Raines had an affair with Barney Frank. Is this one of the reasons for the Spring divorce from his wife, Wendy, of 25 years?
Posted by: Judy Krueger, Nov 12, 2008 06:23:20 AM
What a thieving scumbag ! I hope there is a special place in Hell for him and all the other creeps involved in this mess. Somebody should be going to jail.
Posted by: carl, Sep 30, 2008 06:23:12 PM
AS OF NOW 9/29/2008, THE TAX PAYERS ARE PAYING FOR MR RAINES GRAND IDEAS
Posted by: CAROL, Sep 28, 2008 02:01:47 PM
Fannie is a publicly traded company, the people who have a beef w/ Frank & his millions are the stock holders. Your taxes are not paying Frank’s bills....
Posted by: Jenny, Jul 31, 2008 09:35:53 AM
All I can think of all the people being foreclosed on and all of the money that Frank Raines made as CEO of Fannie Mae which was set up by Congress and paid for by taxpayers was not doing it’s job helping these people.
I think it’s a disgrace that Fank Raines walks away with tens of millions in bonus compensation while many of the people who paid that money have lost homes while others are unable to make their mortgage payments.
Posted by: Tony Puca, Jul 29, 2008 01:38:26 PM
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