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Hundreds of home owners and renters led by the Right to The City Los Angeles, Alliance of Californians for Community Empowerment and Occupy Los Angeles marched through the streets of Pasadena yesterday armed with buckets and brooms to the regional headquarters of Fannie Mae to “clean house.” The protesters, many of whom have faced foreclosure or have been evicted due to foreclosure, are asking for financial reforms and accountability from Fannie Mae and Freddie Mac which own close to 60% of the mortgages in the U.S.

Fannie Mae was established in 1938, to help improve home ownership after the Great Depression, but during the housing boom of the early 2000s, it became more interested in improving shareholder bottom lines by investing in risky subprime loans. After receiving close to $200 billion dollars in bailout money from the US Government, the company finally declared a profit in May 2012 with a quarterly net income of $2.7 billion dollars.

Yet, even as Fannie Mae is in the black, homeowners who have dealt with the aftermath of their questionable loan practices have not been able to obtain permanent loan modifications and one in three home owners nationwide still faces the possibility of foreclosure. Fannie Mae has illegally denied people living in foreclosed buildings money to relocate, and rather than allowing those who have been foreclosed upon to buy back their homes at face value, they have sold those properties to hedge funds.

Uprising correspondent Leonardo Alannis filed a special report from the protests.