FHFA Recovered $8B From Banks In 2013 MBS Settlements

Law360, New York (January 2, 2014, 3:00 PM EST) -- The Federal Housing Finance Agency on Thursday said that it had recovered nearly $8 billion in 2013 from settlements with seven large banks over financial crisis-era sales of mortgage-backed securities to Fannie Mae and Freddie Mac.

The agency, which serves as the conservator for Fannie Mae and Freddie Mac, also revealed that Citigroup Inc. paid $250 million in a May settlement and General Electric Co. agreed to a $6.25 million deal in January of last year. Both of those settlement amounts had previously been kept confidential....
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