01/02/2014
Washington, D.C. – The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has recovered nearly $8 billion on behalf of taxpayers in 2013 through settlements with financial institutions that sold private-label securities (PLS) to Fannie Mae and Freddie Mac between 2005 and 2007. FHFA sued 18 financial institutions in 2011 alleging securities law violations, and in some cases, fraud.
Attached to this news release is a list of the settlements.
Links to 2011 news releases on PLS litigation:
FHFA Sues 17 Firms to Recover Losses to Fannie Mae and Freddie Mac
FHFA Sues UBS to Recover Losses to Fannie Mae and Freddie Mac
Contacts:
Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030