Citigroup has reportedly agreed to pay $395 million to Freddie Mac to settle claims that it sold roughly 3.7 million potentially faulty mortgages to the housing finance company from 2000 to 2012.
According to a Reuters report, the settlement also covers potential future claims arising from the loans.
In July, Citigroup agreed to pay $968 million to Fannie Mae to settle similar claims.
Jane Fraser, CEO of CitiMortgage, said in a statement that the settlement ‘marks another important milestone in successfully resolving Citi's remaining legacy mortgage issues.’
For more, check out the Reuters report.