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Volume 14 - Number 5

March 7, 2014

Societe Generale Latest Defendant To Settle FHFA MBS Litigation

Yet another defendant in the Federal Housing Finance Agency’s massive litigation effort against some of the nation’s largest lenders for bad mortgage-backed securities sales to Fannie Mae and Freddie Mac has settled. The FHFA announced last week that Societe Generale has agreed to pay $122 million to settle a suit by the Finance Agency regarding non-agency MBS purchased by the two GSEs during 2006.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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