Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
W S
Lending / The Ticker

First Horizon settles reps and warrants claim with Freddie Mac

Recently settled with Fannie Mae

money zipper
/ Print / Reprints /
| Share More
/ Text Size+

First Horizon National Corp. entered a definitive resolution agreement with Freddie Mac over the loan repurchases process.

The agreement between the two entities follows a recent agreement between Fannie Mae and First Horizon in the fourth quarter 2013.

According to a Compass Point report, the agreement settles all representation and warranty claims related to loans sold from 2000 to 2008.

Although the amount was not disclosed, First Horizon released an additional $30 million of mortgage repurchase reserves in the fourth quarter, from the previously disclosed $195 million.

It also increased the pending litigation reserve related to $60.5 million from $21.1 million, and lowered its total estimated potential liability from outstanding litigation to $180 million from $242 million in the third quarter of 2013.

Recent Articles by Brena Swanson

Comments powered by Disqus