HSBC to pay $500M to $600M to settle FHFA's claims over crisis-era mortgage bonds

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HSBC to pay $500M to $600M to settle FHFA’s claims over crisis-era mortgage bonds

HSBC to pay $500M to $600M to settle FHFA’s claims over crisis-era mortgage bonds

T.G.I.F…Always on a Friday!


WSJ-

HSBC Holdings PLC will pay as much as $600 million to settle a U.S. housing regulator’s claims the British bank’s U.S. arm failed to disclose adequately the risks on the mortgage bonds it sold to Fannie Mae and Freddie Mac ahead of the financial crisis, people familiar with the matter said.

The pact, which may be announced as early as Friday afternoon, would add HSBC’s name to the list of large financial firms that have settled mortgage-bond lawsuits filed by the Federal Housing Finance Agency in 2011. The FHFA, which…

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