Skip to main content

Flagstar to Pay Freddie Mac $8.9 Million for Mortgage Repurchase Obligations

Dec 30, 2013

Flagstar Bancorp Inc. has announced that it has entered into an agreement with Freddie Mac to resolve substantially all of the repurchase requests and obligations associated with loans originated between Jan. 1, 2000 and Dec. 31, 2008 and sold to Freddie Mac. The total resolution amount is $10.8 million, but after paid claim credits and other adjustments, the bank will pay $8.9 million to Freddie Mac. The amount of Flagstar's current representation and warranty reserve specific to the loans covered by the agreement is sufficient to cover the payment amount. "This agreement is another positive step for Flagstar in further reducing the company's risk profile while supporting improved performance," said Alessandro DiNello, Flagstar's president and CEO. "We believe that our accomplishments in 2013 have positioned Flagstar for sustainable long-term growth in 2014 and beyond."
About the author
Published
Dec 30, 2013
Taking Fannie And Freddie Public A Good Move Or Not: NMP Readers Respond

Survey returns mixed, polarized results from respondents — along with significant uncertainty

5 Questions On Potential Changes To Fannie And Freddie

Polunsky Beitel Green Principal Marty Green talks changes at the GSEs and impacts they could have on housing and mortgage

Housing, Economic Leaders Embrace New Digital Opportunities

It’s Crypto Week at the Capitol, with some getting ready for breakthrough regulations that could change financial services

Some Question Lenders’ And Others’ Readiness To Use VantageScore 4.0

Following FHFA announcement Tuesday, doubts arise regarding potential changes that may be needed to move to VantageScore credit scoring

HUD Freezes Foreclosures On FHA Mortgages In Texas Flood Zone

Kerr County homeowners among hardest hit in disaster that’s claimed more than 100 lives

Jul 09, 2025
Fannie, Freddie Now Allow Lenders To Use VantageScore 4.0

Lenders will keep tri-merge credit scoring model; what this shift means