Fifth Third Bancorp resolved outstanding repurchase claims with Freddie Mac over soured mortgages this week.

It’s one of several repurchase claims cases settled by the government-sponsored enterprises in recent weeks. Fifth Third said it will pay Freddie $25 million to resolve claims that the lender is required to buy back soured mortgages that it sold off to the GSEs.

The bank noted that it has the necessary reserves to cover the settlement.

The deal relates back to loans Fifth Third originated and sold off to Freddie prior to Jan. 1, 2009.

Most Popular Articles

Realtors expect these to be the 10 hottest housing markets for the next 3-5 years

Here are the 10 housing markets that the National Association of Realtors expects to the hottest in the nation in the next three to five years.

Dec 11, 2019 By

Latest Articles

Gateway First Bank makes two key hires

Gateway First Bank made back-to-back announcements this week regarding two key hires. The bank welcomed Joell Maddox as director of treasury services and Thomas Ramm joined as chief investment officer.

Dec 12, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please