FHFA in $5.5B Settlement With RBS – NMP Skip to main content

FHFA in $5.5B Settlement With RBS

Jul 12, 2017
Anow, creator of software for real estate appraisal offices, has announced that it has forged a partnership with the National Association of Appraisers (NAA)

The Federal Housing Finance Agency (FHFA) has reached a $5.5 billion agreement with Royal Bank of Scotland Group (RBS) that settles charges that the financial institution allegedly violated federal and state securities laws in connection with its private-label residential mortgage-backed securities trusts that were purchased by Fannie Mae and Freddie Mac between 2005 and 2007. 
 
Under the terms of the agreement, RBS will pay approximately $4.525 billion to Freddie Mac and approximately $975 million to Fannie Mae, while certain claims against Royal Bank of Scotland related to the securities involved will be released. The bank is not required to offer an admission of guilt as part of this settlement.
 
The FHFA added that this case represents its 17th settlement against financial services companies in connection to alleged violations of various statutory provisions governing the mortgage finance industry.


 
About the author
Published
Jul 12, 2017
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

UAD 3.6 Deadline Is Monday. Are Brokers Ready?

Wholesale lenders have adopted different rules for appraisal transfers, loan product changes, and reporting formats, adding complications for brokers and appraisers ahead of the Nov. 2 mandate

Friday Harbor Expands AI Appraisal Reviews As UAD 3.6 Deadline Nears

The new capability adds more than 350 automated checks as lenders prepare for the November 2 mandate

Oct 27, 2026
The Hidden Cost Of Appraisal Uncertainty

As home equity lending grows, lenders need a better way to resolve conflicting property evidence before it creates costly setbacks