Replies to post #2579 on Fannie Mae Preferred S (FNMAS)

[Joe Stocks]

Rosen, I think you are thinking of another settlement.


3:01 AM A $10B settlement between 14 large banks and regulators over abusive foreclosure practices could reportedly be announced today after the Fed gave its approval. The central bank had held up the deal over the weekend over an extra $300M that it wanted firms to pay, but backed down when they balked. [Financials, Top Stories] 1 Comment

The BAC settlement has nothing to do with the above.

[44centsAKAchoccake]

I think the BofA setlement dollars go to Fannie. I think Freddie had previously settled their litigation so doesn't affect Freddie.

I think it is the new robosigning settlement that would send some money to certain foreclosed homeowners.