Fifth Third and Freddie resolve mortgage repurchase claims

|About: Fifth Third Bancorp (FITB)|By:, SA News Editor

After paid claim credits and other adjustments, Fifth Third (FITB) will pay $25M in cash to Freddie Mac (FMCC) to resolve certain repurchase claims on mortgages originated and sold prior to Jan. 1, 2009. The bank's rep and warranty reserves are "fully sufficient" to cover the payment amount.