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Volume 2014 - Number 28

July 18, 2014

Citigroup’s Settlement a Gain for Government, But Observers Say It’s a Setback to Recovery

The Department of Justice this week announced a $7 billion settlement with Citigroup to resolve federal and state civil claims related to legacy residential MBS. Industry attorneys are warning that such gargantuan settlements might cause lenders to pull back further, making credit far less available to borrowers and causing economic recovery to falter further. The settlement includes...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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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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