Citigroup Reaches $1B RMBS Deal With Investors

Law360, Los Angeles (April 07, 2014, 9:41 PM ET) -- Citigroup Inc. said Monday that it has agreed to pay more than $1 billion to 18 institutional investors who sought to have the bank repurchase mortgage loans sold into the trusts.

Under the $1.13 billion deal, Citigroup will make a binding offer to the trustees of 68 Citigroup-sponsored residential mortgage-backed securities trusts that issued a total of $59.4 billion in RMBS. The 68 trusts covered by the agreement represent all of the trusts established by Citigroup's legacy securities and banking business from 2005 to 2008 to...
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