Goldman to Pay $3.15 Billion to Settle Mortgage Cl
Post# of 1629
Posted On: 08/22/2014 10:07:45 PM
Goldman to Pay $3.15 Billion to Settle Mortgage Claims-link
The bank said on Friday that it had agreed to buy back $3.15 billion in mortgage bonds from Fannie Mae and Freddie Mac to end a lawsuit filed in 2011 by the Federal Housing Finance Agency, the federal regulator that oversees the two mortgage companies. The agency had accused Goldman of unloading low-quality mortgage bonds onto Fannie Mae and Freddie Mac in the run-up to the financial crisis. It estimates that Goldman is paying $1.2 billion more than the bonds are now worth.
http://dealbook.nytimes.com/2014/08/22/goldma...e&_r=0
The bank said on Friday that it had agreed to buy back $3.15 billion in mortgage bonds from Fannie Mae and Freddie Mac to end a lawsuit filed in 2011 by the Federal Housing Finance Agency, the federal regulator that oversees the two mortgage companies. The agency had accused Goldman of unloading low-quality mortgage bonds onto Fannie Mae and Freddie Mac in the run-up to the financial crisis. It estimates that Goldman is paying $1.2 billion more than the bonds are now worth.
http://dealbook.nytimes.com/2014/08/22/goldma...e&_r=0
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