It's Mid-2015 — The Repurchase Demands Continue

Law360, New York (June 25, 2015, 11:25 AM EDT) -- In the aftermath of the financial crisis, Fannie Mae and Freddie Mac aggressively demanded that Wall Street and big bank aggregators repurchase millions of defaulted and distressed loans due to purported breaches of representations, warranties and covenants. In the past few years, there have been several blockbuster settlements with the government-sponsored enterprises (GSEs), such as Citigroup's 2013 settlement with Fannie Mae in which it agreed to pay Fannie Mae $968 million to resolve existing and potential future mortgage repurchase claims on loans sold to the U.S. mortgage guarantor between 2000 and 2012. Similarly, Bank of America, Wells Fargo and JPMorgan Chase also settled with the GSEs....

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