FHFA Reaches $99.5 Million Settlement With RBS Securities Over MBS
The Federal Housing Finance Agency (FHFA), as conservator of Freddie Mac, announced a settlement for $99.5 million with RBS Securities Inc. (RBS). The settlement resolves claims against RBS in FHFA v. Ally Financial Inc. in the Southern District of New York, alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities purchased by Freddie Mac during 2005-2007. A separate lawsuit involving RBS is not affected by this settlement, FHFA v. The Royal Bank of Scotland Group.
This is the 15th settlement related to the 18 PLS lawsuits FHFA filed in 2011. FHFA remains committed to satisfactory resolution of the remaining actions.
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