Bank of America: 'We provide all required MSR documents'

Bank of America: 'We provide all required MSR documents'

Responds to Ginnie Mae MSR transfer block

Fannie, Freddie settlements eat into PNC earnings

Earnings barely move from 4Q13

Here are 5 bold mortgage predictions from KBW

Q1 mortgage volume predicted to be $20 billion lower
W S
Investments / The Ticker

U.S. Bancorp resolves repurchase obligations with Freddie Mac

Bank agrees to make a one-time payment of $53M

money_display
/ Print / Reprints /
| Share More
/ Text Size+

Freddie Mac and U.S. Bancorp (USB) reached an agreement that ends all repurchase obligations on loans the bank sold off to the government-sponsored enterprise in the years 2000 through 2008.

U.S. Bancorp will make a one-time payment of $53 million. The payment resolves allegations that the lender sold off loans to Freddie Mac that contained misrepresentations related to representations and warranties.

U.S. Bancorp said in a press statement that it’s fully reserved for the cost of the payout.

 

Comments powered by Disqus