General Electric Co (GE.N) has agreed to settle a federal agency’s lawsuit accusing it of misleading Freddie Mac into buying $549 million of mortgage-backed securities, the Federal Housing Finance Agency said on Wednesday.
The settlement is the first to result from a series of lawsuits the FHFA filed against Wall Street banks in 2011 in its role as conservator for Fannie Mae and Freddie Mac.
Terms of the accord were not announced.
[REUTERS]© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.