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vincen71

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vincen71

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Wednesday, 09/25/2013 4:32:02 PM

Wednesday, September 25, 2013 4:32:02 PM

Post# of 46005
Citi settles with Freddie Mac for $395M over mortgages
04:30 PM ET · FMCC.OB

The settlement covers breaches of reps and warranties on 3.7M mortgages sold to Freddie Mac (FMCC.OB) between 2000 and 2012. Citigroup (C) will pay Freddie $395M, all of which is covered in the bank's existing mortgage repurchase reserves.
The agreement covers potential future origination-related claims on the Included Loans, but does not end Citi's liability as far as servicing or other obligations.
Press release.
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