FHFA Announces $885 Million Settlement With Credit Suisse

Categorized | STOP FORECLOSURE FRAUD

FHFA Announces $885 Million Settlement With Credit Suisse

FHFA Announces $885 Million Settlement With Credit Suisse

For Immediate Release

Contact: Stefanie Johnson (202) 649-3030

March 21, 2014

Corinne Russell (202) 649-3032

FHFA Announces $885 Million Settlement
With Credit Suisse

Washington, DC – The Federal Housing Finance Agency (FHFA), as conservator of Fannie
Mae and Freddie Mac, today announced it has reached a settlement with Credit Suisse, related
companies and specifically named individuals for $885 million. The settlement resolves all
claims in the lawsuit FHFA v. Credit Suisse, et al. as well as all claims against the Credit Suisse
defendant in FHFA v. Ally Financial Inc., et al. alleging violations of federal and state securities
laws in connection with private-label mortgage-backed securities (PLS) purchased by Fannie
Mae and Freddie Mac during 2005-2007.
Under the terms of the agreement, Credit Suisse will pay approximately $234 million to Fannie
Mae and approximately $651 million to Freddie Mac and certain claims against Credit Suisse
related to the securities involved will be released. This is the ninth settlement FHFA has
announced in relation to the 18 PLS lawsuits the agency filed in 2011.
Settlement agreement follows (confidential exhibit omitted).

###

FULL 31 PAGE SETTLEMENT BELOW

Down Load PDF of This Case

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8690 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives