Freddie Scores $1.3B Repurchase Settlement, Expect More to Come
Expect more GSE repurchase settlements in the near future, say industry insiders, following last weeks announcement by Freddie Mac that it scored a trifecta of buyback settlements with three of the countrys biggest financial institutions. Wells Fargo, Citigroup and SunTrust Mortgage will pay a combined $1.3 billion to the GSE and in exchange Freddie will with some limitations and exclusions release the companies from certain existing and future loan repurchase obligations for specific populations of loans.