UBS Reaches Settlement with the FHFA

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On July 25, the FHFA announced that it had settled its claims against UBS AG concerning mortgage-backed securities that UBS sold to Fannie Mae and Freddie Mac between 2004 and 2007. UBS agreed to pay a total of $885 million. The settlement covers federal and state securities claims concerning 33 separate RMBS securitizations that FHFA asserted against UBS in four separate lawsuits filed in 2011. The settlement also provides that the FHFA will not bring putback claims in connection with certain other securities covered by the agreement. UBS did not admit any liability in connection with the settlement. Release and Agreement.

Topics:  Fannie Mae, FHFA, Freddie Mac, RMBS, UBS

Published In: Business Torts Updates, Finance & Banking Updates, Insurance 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.

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