FHFA Reaches $99.5 Million Settlement With RBS Securities Over MBS

Jun 20, 2014

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.

About the author

NationalMortgageProfessional.com

Link copied

Published

Jun 20, 2014

Industry News

Bill Pulte Trump’s Pick For FHFA Director

The founder and CEO of private equity firm, Pulte Capital Partners, LLC, will oversee plans to end GSE conservatorship

In a Thursday post on his social media network Truth Social, President-elect Donald Trump announced his plan to nominate Bill Pulte as director of the Federal Housing Finance Agency (FHFA). "Bill needs no formal introduction to the Great Citizens of our Country,” Trump w...

Tech

Road To 2030 In Mortgage: ‘Velocity Of Decision-Making Is Moving Fast’

Borrowers could be qualified ‘in minutes,’ and large staffs made redundant by AI, mortgage exec says

It’s a good time to “read the tea leaves” in the mortgage industry because the next five years are likely to bring big changes – and the pace of change is only accelerating, disrupted by forces like artificial intelligence (AI) and automation. So noted Rick Roque, corpo...