RBS to pay $5.5B in FHFA mortgage-bond settlement

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FHFA in $5.5B Settlement With RBS Posted on Thursday, July 13, 2017 by Judy Cobb Royal Bank of Scotland Group PLC said Wednesday it has agreed a usd5.50 billion settlement with the US Federal Housing Finance Agency over claims the lender mis-sold residential mortgage-backed securities.

NEW YORK (Reuters) – A U.S. appeals court appeared unlikely on Friday to overturn an order requiring Nomura Holdings Inc <8604.T> and Royal Bank of Scotland Group Plc <RBS.L> to pay $839 million.

Royal Bank (RBS) Nears Mortgage Bond Settlement with FHFA. The deal is expected to cost $4.5 billion (3.5 billion) to the bank. However, it would still be in talks of settlement with the U.S. Department of Justice and the cost is expected to be higher than that with FHFA.

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Under the settlement, RBS does not admit fault, the NCUA said in a statement. The settlement comes on top of a prior deal in 2015 in which RBS agreed to pay $129.6 million. dollar lawsuit by the.

Royal Bank of Scotland in $5.5B settlement over US mortgages FILE – This is a Thursday, Jan. 26, 2017 file photo of People as they walk past one of the headquarters buildings showing the logo of.

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 · Per the settlement, the banks were ordered to pay $839 million for misrepresentation of documents in selling of mortgage-backed securities. Notably, both banks were accused by the Federal Housing Finance Agency’s (FHFA) of providing fraudulent details regarding mortgages sold to the government-backed mortgage financiers, Federal National Mortgage Association (FNMA) and Federal.

Royal Bank of Scotland is to pay $5.5 billion to U.S. regulators to settle the second of three major investigations into claims it missold $32 billion of toxic mortgage-backed securities in the.

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The settlement comes as RBS continues to seek to resolve a U.S. Justice Department investigation into its sales of mortgage-backed securities before the financial crisis. In July, RBS agreed to pay $5.

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 · On July 12, 2017, the Federal housing finance agency (“fhfa“), as conservator of Fannie Mae and Freddie Mac, announced it had reached a settlement with Royal Bank of Scotland Group plc, related companies and specifically named individuals (collectively, “RBS”) for $5.5 billion. The settlement resolves all claims in the lawsuit FHFA v.