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Private-Label Securities (PLS) Actions

Our focus is to fulfill the legal responsibilities Congress assigned FHFA as conservator, and preparing the foundation
for a new, stronger housing finance system in the future.


One of the goals in the 2012 Conservatorship Scorecard was for Fannie Mae and Freddie Mac to work with FHFA to conclude litigation associated with private-label securities and whole loan repurchase claims. Fannie Mae and Freddie Mac have been working with counterparties to reach agreements to resolve certain claims related to mortgages sold to them. This initiative is designed to help Fannie Mae and Freddie Mac recover losses from origination and servicing defects that have been, or could have been, paid for by taxpayers.

FHFA continues work on lawsuits filed in 2011 against 18 financial institutions, certain of their officers and directors, and various unaffiliated lead underwriters. The suits allege violations of both federal securities and state laws in the sale of residential MBS to Fannie Mae and Freddie Mac. The complaints, filed under statutory authority granted by HERA, reflect our conclusion that Fannie Mae and Freddie Mac incurred losses because of misrepresentations and other improper actions by the firms and individuals named in the suits.

These complaints are part of our ongoing commitment as conservator to collect money due to Fannie Mae and Freddie Mac because of investments in MBS that did not conform  to representations made in offering documents and
the failure of defendants to comply with underwriting guidelines and standards. Our work has yeilded results.

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FHFA's Update on Private Label Securities Actions132967/18/2014 3:57:09 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx20993390http://www.fhfa.gov7/18/2014 3:57:09 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Announces Settlement with RBS10406/19/2014 8:16:00 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx14551940http://www.fhfa.gov6/19/2014 8:16:00 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Announces $110 Million Settlement with First Horizon National Corporation133525/19/2014 8:43:33 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx1278940http://www.fhfa.gov5/19/2014 8:43:33 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Announces $280 Million Settlement with Barclays Bank PLC132975/19/2014 8:51:37 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx24421630http://www.fhfa.gov5/19/2014 8:51:37 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Announces $9.3 Billion Settlement With Bank of America Corporation136295/19/2014 8:56:58 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx9581780http://www.fhfa.gov5/19/2014 8:56:58 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Announces $885 Million Settlement With Credit Suisse136145/19/2014 8:57:29 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx239320http://www.fhfa.gov5/19/2014 8:57:29 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Announces $122 Million Settlement With Société Générale33245/19/2014 8:57:33 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx271400http://www.fhfa.gov5/19/2014 8:57:33 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Announces $1.25 Billion Settlement With Morgan Stanley3325FHFA has reached a settlement resolving claims in the lawsuit FHFA v. Morgan Stanley, et al. which addresses claims alleging violations of securities laws/common law fraud in connection with Enterprise private-label MBS purchased between 2005 and 2007.5/19/2014 9:00:08 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx325560http://www.fhfa.gov5/19/2014 9:00:08 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Recovers Nearly $8 Billion for Taxpayers in 2013 Through Settlements3448FHFA announced it has recovered nearly $8 billion on behalf of taxpayers in 2013 through settlements with financial institutions that sold private-label securities (PLS) to Fannie Mae and Freddie Mac between 2005 and 2007.5/19/2014 9:04:49 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx232210http://www.fhfa.gov5/19/2014 9:04:49 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js
FHFA Announces $1.9 Billion Settlement With Deutsche Bank3326FHFA has reached a settlement in FHFA v. Deutsche Bank AG, et al., which addresses claims alleging violations of federal/state securities laws in connection with Enterprise-purchased private-label mortgage-backed securities (PLS) purchased 2005-2007.5/19/2014 9:07:43 PMSTS_ListItem_850http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx374570http://www.fhfa.gov5/19/2014 9:07:43 PMhtmlFalseaspx32;44;1632~sitecollection/_catalogs/masterpage/Display Templates/Search/Item_PublicAffairs.js

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