Freddie Scores $1.3B Repurchase Settlement, Expect More to Come
October 11, 2013
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.