Citigroup Inc (NYSE:C) has reached a $395 million settlement with Freddie Mac/Federal Home Loan Mortgage Corp (OTCBB:FMCC) regarding 3.7 million mortgages that it sold to Freddie Mac through 2012. Citigroup Inc (NYSE:C) previously settled a similar claim with Fannie Mae/Federal National Mortgage Association (OTCBB:FNMA) for $968 million last July, reports Jonathan Stempel for Reuters.
Agreement with Freddie Mac marks another important milestone
“Today’s agreement with Freddie Mac/Federal Home Loan Mortgage Corp (OTCBB:FMCC) marks another important milestone in successfully resolving Citi’s remaining legacy mortgage issues,” said CitiMortgage CEO Jane Fraser.
When banks...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
