Volume 2014 - Number 33
September 5, 2014
FHFA’s Goldman Sachs Deal Allows Firm to Recoup Losses; FDIC Too Late to Sue Deutsche, Credit Suisse
The legal settlement between Goldman Sachs and the Federal Housing Finance Agency over soured non-agency MBS sold to Fannie Mae and Freddie Mac featured an unusual buyback of the securities by the investment bank. It leaves just three big defendants left to settle or go to trial, legal observers note. Under the terms of the settlement announced Aug. 22, Goldman is required to pay $3.15 billion to repurchase securities that were the subject of the claims in the FHFA’s lawsuit. The economic value of the settlement is estimated...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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