Citigroup To Pay Freddie $395M Over Mortgage Buyback Row

Law360, New York (September 25, 2013, 8:12 PM EDT) -- Citigroup Inc. has agreed to pay $395 million to Freddie Mac to resolve repurchase claims over some 3.7 million loans the bank had sold the mortgage giant from 2000 to 2012, Citigroup said Wednesday.

The bank said the amount was covered by its current mortgage repurchase reserves as of June 30, according to its statement. The announcement followed its similar deal with Fannie Mae in July in which it agreed to pay $968 million to resolve repurchase claims related to 12 years' worth of mortgages it...
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