FHFA Wants Fannie, Freddie To Wrap Up Mortgage Cases

Law360, New York (November 26, 2013, 1:02 PM EST) -- The Federal Housing Finance Agency on Monday instructed Fannie Mae and Freddie Mac to complete their review of pre-financial crisis mortgage purchases and wrap up their claims against the banks that sold them, an effort that has already resulted in over $18 billion in recoveries.

In a progress report of its strategic plan for reforming Fannie Mae and Freddie Mac’s operations, the FHFA said that completing the representations and warranties reviews of mortgages the two firms purchased prior to the financial crisis was vital to "restore...
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