Google+
  • Ocwen35.85+0.09 +0.25%
  • Zillow158.86+13.10 +8.99%
  • Trulia56.35+2.61 +4.86%
  • NationStar32.09-0.77 -2.34%
  • CoreLogic28.17-0.59 -2.05%
  • RE/MAX28.64+0.08 +0.28%
  • Fannie Mae4.23+0.01 +0.24%
  • Freddie Mac4.18+0.01 +0.24%
  • Wells Fargo51.60+0.01 +0.02%
  • CitiMortgage50.03-0.06 -0.12%
  • Bank of America15.59-0.03 -0.19%
  • Auction.com0.00N/A N/A
  • Fidelity National Financial27.65+0.07 +0.25%
  • Black Knight Financial0.00N/A N/A
  • AUDUSD=X0.9397N/A N/A
  • USDJPY=X101.84N/A N/A
  • WP Stock Ticker
Home | Daily Dose | FHFA Announces $122 Million Settlement
Print This Post Print This Post

FHFA Announces $122 Million Settlement

The Federal Housing Finance Agency (FHFA) announced Thursday it has reached a settlement with Société Générale, related companies, and specifically named individuals. The parties have reached a settlement of $122 million, and resolved claims made in the lawsuit FHFA vs. Société Générale, et al.

Société Générale is a French multinational banking and financial services company.

The suit alleged violations of federal and state securities laws in connection with private-label mortgage-backed securities (PLS) purchased by Fannie Mae and Freddie Mac during 2006.

The FHFA currently serves as a conservator of Fannie Mae and Freddie Mac.

Société Générale will pay roughly half of the settlement to Fannie Mae and half to Freddie Mac. Certain claims against the company related to securities will be made public as part of the settlement.

The FHFA has announced eight settlements in relation to PLS lawsuits.

About Author: Colin Robins

Avatar of Colin Robins
Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News' sister site.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title="" rel=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Scroll To Top