Wells Fargo and Fannie Mae Agree to $540 Million-Plus Repurchase Settlement – NMP
Regulation and Compliance
Industry News

Wells Fargo and Fannie Mae Agree to $540 Million-Plus Repurchase Settlement

Dec 30, 2013

On the heels of an $8 million-plus settlement with Flagstar Banks, Fannie Mae has reached another agreement, this time with Wells Fargo & Company, that resolves substantially all repurchase liabilities related to loans sold to Fannie Mae that were originated prior to Jan. 1, 2009. The $591 million agreement was adjusted for credits related to certain prior repurchases, resulting in a one-time cash payment to Fannie Mae of approximately $541 million. At Sept. 30 2013, Wells Fargo had fully accrued for the cost of the agreement.  
About the author
NationalMortgageProfessional.com
Link copied
Published
Dec 30, 2013
Get the NMP Daily
Opinion
Homeownership Is Increasingly Elusive for Gen Z

CHLA calls for changes to condo financing, manufactured housing loans, and down payment assistance to revive the first-time homebuyer market

Last April, the Community Home Lenders of America (CHLA) released its Gen Z Homeownership White Paper. The paper painted a somewhat alarming picture of the unprecedented challenges families and individuals in their 20s and 30s face in achieving the American dream of homeowne...

Continue reading
Operations
HUD Renews Social Security Data-Sharing Framework for FHA Loans

The 18-month agreement takes effect Dec. 3 and covers identity verification for borrowers and non-borrowing spouses, including responses when identifying information fails to match federal records

The Federal Housing Administration is preparing to implement a new data-sharing agreement with the Social Security Administration on Dec. 3, allowing HUD to verify identifying information for borrowers applying for FHA-insured mortgages.The agreement, detailed in a Nov. 3 Fe...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Regulation and Compliance
California Approves $25B Homebuyer Loan Program, Targeting New Construction

Proposition 37 could open new purchase lending opportunities, but financing costs and borrower qualification will determine its reach

Regulation and Compliance
Nov 11, 2026
When AI Takes Action: New Federal Framework Raises Questions

New federal banking guidance examines the risks of autonomous AI, from borrower communications to servicing transactions, with a focus on human oversight and accountability

Regulation and Compliance
Nov 10, 2026
States Tighten Mortgage Rules For Home Equity Investments

Massachusetts, Maine, and Illinois are expanding oversight of home equity financing

Regulation and Compliance
Nov 09, 2026
West Capital LO Challenges Contractor Status, Required Fees

A former originator alleges unpaid overtime, recurring tech charges, and company restrictions that he says undermine his independent-contractor status

Regulation and Compliance
Nov 06, 2026
CFPB Closes 40% Of Investigations, Keeps Mortgage Enforcement In Focus

The federal watchdog closed thousands of supervisory and investigative matters as it narrowed oversight

Regulation and Compliance
Nov 05, 2026
Midterms Loom With Mortgage Policy Changes Already In Motion

As voters head to the polls Tuesday, Washington is weighing changes to refinancing costs, loan pricing, and lending regulations

Regulation and Compliance
Nov 02, 2026