Bloomberg-
Wells Fargo & Co. (WFC) agreed to pay less than $1 billion to settle Federal Housing Finance Agency claims it sold faulty mortgage bonds to Fannie Mae and Freddie Mac, according to a person briefed on the deal.
The bank’s accord with the FHFA, which regulates the government-backed mortgage-finance firms, was subject to a confidentiality agreement, the person said, asking not to be named because of those terms. San Francisco-based Wells Fargo said in a May filing that it had settled Fannie Mae’s claims over mortgage bonds, and that the payment, which it didn’t specify, was covered by reserves.
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
Petty fine. Borrowers and damage to society at large completely ignored. Well done!
What about the Ginnie Mae fraud? All that right Ginnie Mae is in on the fraud!