FHFA Announces $280 Million MBS Settlement With Barclays – NMP Skip to main content

FHFA Announces $280 Million MBS Settlement With Barclays

Apr 25, 2014

The Federal Housing Finance Agency (FHFA) has announced a settlement with Barclays Bank PLC, related companies and specifically named individuals for $280 million. The settlement resolves claims in the lawsuit FHFA v. Barclays Bank PLC, et al., as well as claims against Barclays in FHFA v. Ally Financial Inc., et al, alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac during 2005-2007.  Both cases are in the U.S. District Court for the Southern District of New York. Pursuant to the agreement, Barclays will pay $227 million to Freddie Mac and $53 million to Fannie Mae. This is the 13th settlement related to the 18 PLS lawsuits FHFA filed in 2011.  FHFA remains committed to satisfactory resolution of the remaining actions.
About the author
Published
Apr 25, 2014
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

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

States Tighten Mortgage Rules For Home Equity Investments

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

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

CFPB Closes 40% Of Investigations, Keeps Mortgage Enforcement In Focus

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

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