Freddie Mac and Fifth Third Bancorp Reach Settlement Agreement

more+
less-
more+
less-

On November 25, Fifth Third Bancorp announced a $25 million settlement agreement with Freddie Mac related to mortgages sold by the bank prior to January 1, 2009. Per the agreement, Fifth Third Bancorp agreed to repurchase all nonconforming loans it sold to Freddie Mac, including those not identified in repurchase demands. Press Release.

Topics:  Freddie Mac, Loans, Mortgages, Settlement

Published In: Business Torts Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Orrick - Structured Finance Group | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »