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Volume 14 - Number 16

August 8, 2014

FHFA, Goldman Talking Deal After Judge Rules in Part For Agency

It could cost Goldman Sachs between $800 million and $1.25 billion to resolve government claims that it sold faulty mortgage-backed securities to Fannie Mae and Freddie Mac leading up to the financial crisis, according to recent reports. Goldman Sachs is currently negotiating with the Federal Housing Finance Agency, which has recovered approximately $16.1 billion in agreements with other banks with respect to legacy MBS sold to the GSEs.In September 2011, the FHFA filed 18 separate lawsuits against some of the nation’s biggest banks, accusing them of misrepresenting some $180 billion in toxic subprime MBS.

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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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