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Volume 14 - Number 1

January 10, 2014

FHFA Recovers Nearly $8 Billion From MBS Defendants in 2013

The Federal Housing Finance Agency said it recovered $7.88 billion in civil settlements in 2013 from less than half of the 18 defendants it is suing over billions of dollars in losses from toxic non-agency mortgage-backed securities sold to the GSEs before the housing crisis. Seven of the big banks made deals with Fannie Mae’s and Freddie Mac’s conservator to get out from under the massive MBS litigation effort launched by the FHFA in 2011.

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

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