FHFA Announces $110 Million Settlement With First Horizon National – NMP Skip to main content

FHFA Announces $110 Million Settlement With First Horizon National

NationalMortgageProfessional.com
Apr 30, 2014

The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, has announced a settlement for $110 million with First Horizon National Corporation, related companies and specifically named individuals. The settlement resolves claims in the lawsuit FHFA v. First Horizon National Corporation, et al. (S.D.N.Y.), alleging violations of federal and District of Columbia securities laws in connection with private-label mortgage-backed securities (MBS) purchased by Fannie Mae and Freddie Mac during 2005-2007. Pursuant to the agreement, First Horizon will pay $61.6 million to Fannie Mae and $48.4 million to Freddie Mac. This is the 14th settlement related to the 18 PLS lawsuits FHFA filed in 2011. FHFA remains committed to satisfactory resolution of the remaining actions. First Horizon CEO Bryan Jordan called the settlement with FHFA "another big step forward" in First Horizon's ongoing efforts to unwind from its former mortgage businesses.
Published
Apr 30, 2014
CFPB Alters Threshold For Exempting Loans From Special Appraisal Requirements

The 2022 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $27,200 to $28,500. 

Regulation and Compliance
Dec 02, 2021
Regulatory Review, Reformatted

The progress made to date with NMLS modernization

Regulation and Compliance
Dec 01, 2021
November Surprise: Fed May Accelerate Tapering

Chairman Powell tells Congress of concerns about inflation, COVID-19 variant’s effect on recovery.

Regulation and Compliance
Dec 01, 2021
FHFA's 2022 Conforming Loan Limit Maxes Out At Nearly $1M

Baseline limit for Fannie, Freddie increases to $647,200, but for 'high-cost areas' loan ceiling set at $970,800 for single-family homes.

Regulation and Compliance
Dec 01, 2021
Regulators Are Back In The Saddle

There’s not only a new sherriff in town, it’s a whole gang of them.

Regulation and Compliance
Nov 29, 2021
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021