{"id":5495,"date":"2013-07-27T00:00:00","date_gmt":"2013-07-27T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/07\/ubs_to_pay_fannie_mae_and_fred"},"modified":"2022-05-05T08:32:58","modified_gmt":"2022-05-05T13:32:58","slug":"ubs-to-pay-fannie-mae-and-fred","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ubs-to-pay-fannie-mae-and-fred\/","title":{"rendered":"UBS to Pay Fannie Mae and Freddie Mac $885M to Settle RMBS Lawsuit"},"content":{"rendered":"

UBS (UBS) <\/a>will pay $885 million to settle Federal Housing Finance Agency to settle allegations that it misrepresented mortgage-backed bonds during the housing bubble. $415 million of the mortgage settlement will go to Fannie Mae, while $470 million will be paid to Freddie Mac, both government-sponsored enterprises, over the $200 million in mortgage-backed securities that were sold to them.<\/p>\n

According to FHFA, UBS misrepresented the quality of loans that were underlying residential mortgage-backed securities worth billions of dollars that Freddie Mac and Fannie Mae ended up buying. Both firms were seized in 2008 when losses from subprime mortgages brought them close to insolvency. They still are under US conservatorship.<\/p>\n

UBS is the third to settle with FHFA over RMBS allegations. Citigroup (C) <\/a>and General Electric Co. (GE) were the first.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

UBS (UBS) will pay $885 million to settle Federal Housing Finance Agency to settle allegations that it misrepresented mortgage-backed bonds during the housing bubble. $415 million of the mortgage settlement will go to Fannie Mae, while $470 million will be paid to Freddie Mac, both government-sponsored enterprises, over the $200 million in mortgage-backed securities that […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3755],"tags":[2516,2616,2517],"class_list":["post-5495","post","type-post","status-publish","format-standard","hentry","category-ubs","tag-fannie-mae","tag-fhfa","tag-freddie-mac"],"yoast_head":"\nUBS to Pay Fannie Mae and Freddie Mac $885M to Settle RMBS Lawsuit — Investor Lawyers Blog — July 27, 2013<\/title>\n<meta name=\"description\" content=\"UBS (UBS) will pay $885 million to 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