FHFA resolves 6 of 18 RMBS suits against big banks

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Washington, DC – The Federal Housing finance agency (fhfa), as conservator of Freddie Mac, today announced a settlement for $99.5 million with RBS Securities, Inc. (RBS). The settlement resolves claims against RBS in FHFA v.

FHFA resolves 6 of 18 RMBS suits against big banks The settlement resolves part of the tab as the US’s biggest bank proceeds with negotiations with the government over a broader pact to resolve mortgage-related violations. The larger (.0 billion) of the two settlements relates to $33.8 billion.

FHFA resolves 6 of 18 RMBS suits against big banks The FHFA has served as Fannie Mae and Freddie Mac’s conservator since their $187 billion taxpayer bailout in 2008. It filed suits against 18 banks over losses suffered by Fannie Mae and Freddie Mac on more than $130 billion worth of mortgage-backed securities.

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Citigroup Inc., et al., the FHFA reviewed 1,851 loan files in the CMLTI. among the largest sellers of mortgage loans sold to the Trusts, originating. the DOJ filed suit against Bank of America for defrauding investors in connection with the sale.. 18, 2012), U.S. Bank, N.A., as trustee filed an action against.

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Fannie Mae Loan Numbers and You After more than two years of filing lawsuits against 18 major financial institutions, the FHFA has recovered approximately $8 billion for taxpayers. FHFA Recovers $8B from rmbs settlements home

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The FHFA filed RMBS-related lawsuits against 18 financial institutions. The settlement with RBS is the 17th – and one of the largest – in the litigation, with one case having gone to trial. Analysts at Jefferies said the settlement was $1 billion more than they had been expecting, although it is largely covered by existing provisions.

Bank of America also announced that it entered into an agreement to resolve a 2010 lawsuit brought by the New York Attorney General (NYAG) against Bank of America and certain former executives.