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Citigroup (C) agrees to pay Fannie Mae (FNMA.OB) $968M to settle potential mortgage repurchase...

Citigroup (C) agrees to pay Fannie Mae (FNMA.OB) $968M to settle potential mortgage repurchase claims on 3.7M mortgages sold to Fannie between 2000 and 2012. The bank expects to report a mortgage repurchase reserve build of $245M in Q2. Shares +0.8% premarket. (PR)
Comments (3)
  • afortier
    , contributor
    Comments (29) | Send Message
     
    i just don't get it. citi sells and Freddy buys. both are expert in this field. i guess Freddy is run by a bunch of bozos. their main business is to purchase risk loans granted to unqualified purchaser and once they have taken the bad decision they deresponsalise themself. what a bunch on incompetent
    1 Jul 2013, 09:26 AM Reply Like
  • smdemunbrun
    , contributor
    Comments (6) | Send Message
     
    That can't be right. They could give all 3.7 M $261 M EACH !!!
    1 Jul 2013, 10:15 AM Reply Like
  • pankaj123
    , contributor
    Comments (92) | Send Message
     
    Where this money will go? legally it should go to existing share holders and not to the treasury.This is the amount of compensation to the share holders and treasury has nothing to do with it.
    1 Jul 2013, 10:43 AM Reply Like
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