UBS Exits Battle Over Fannie, Freddie MBS Losses

Law360, Los Angeles (September 6, 2013, 6:12 PM EDT) -- UBS Securities Inc. settled a dispute with the Federal Housing Finance Agency on Friday, releasing it from multidistrict litigation over allegedly shoddy mortgage-backed securities it underwrote that were purchased by Fannie Mae and Freddie Mac.

U.S. District Judge Mariana R. Pfaelzer approved an Aug. 2 motion to dismiss UBS from the sprawling litigation over residential mortgage-backed securities that went sour when the housing market fell. The terms of the settlement were not immediately available, though part of the agreement included a stipulation that the other parties...
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