Freddie Mac Fights Taylor Bean's $1.6B Settlement

Law360, New York (July 12, 2011, 5:24 PM EDT) -- Freddie Mac objected on Monday to a proposed settlement in Florida that would allow Taylor Bean & Whitaker Mortgage Corp. to pay a $1.6 billion bankruptcy claim held by a subsidiary implicated alongside the defunct lender in a massive bank and securities fraud.

Freddie Mac asked a Florida bankruptcy court to refuse Taylor Bean's request for an expedited hearing on the settlement or reject it outright. The deal, reached with Bank of America NA and a creditors committee, would permit Taylor Bean to pay its wholly...
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