Citigroup To Pay Fannie Mae $968 Million

Citigroup Inc. (NYSE:C) has reached an agreement to pay $968 million to Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) to resolve potential claims over residential first-mortgage claims.

The End For Hangovers From Financial Crisis

The deal marks the end of one of the hangovers from the financial crisis for Citigroup Inc. (NYSE:C). The banking group agreed to pay $968 million to settle potential claims that it breached guarantees of loan quality on 3.7 million mortgages that were sold to the mortgage finance agency Fannie Mae / Federal National...