Citigroup Pays $395 Million To Freddie Mac To Settle Mortgage Claims

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.


Please enter your comment!
Please enter your name here