Fannie Mae-No Politics (FNMA)

[Patswil]

Goldman to Pay $3.15 Billion to Settle Mortgage Claims-link

The bank said on Friday that it had agreed to buy back $3.15 billion in mortgage bonds from Fannie Mae and Freddie Mac to end a lawsuit filed in 2011 by the Federal Housing Finance Agency, the federal regulator that oversees the two mortgage companies. The agency had accused Goldman of unloading low-quality mortgage bonds onto Fannie Mae and Freddie Mac in the run-up to the financial crisis. It estimates that Goldman is paying $1.2 billion more than the bonds are now worth.

http://dealbook.nytimes.com/2014/08/22/goldman-to-pay-3-15-billion-to-settle-mortgage-claims/?_php=true&_type=blogs&partner=yahoofinance&_r=0