{"id":6172,"date":"2017-07-12T14:06:52","date_gmt":"2017-07-12T19:06:52","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1667"},"modified":"2022-03-22T15:06:54","modified_gmt":"2022-03-22T20:06:54","slug":"royal-bank-scotland-settles-fhfas-mbs-securities-probe-5-5b","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/royal-bank-scotland-settles-fhfas-mbs-securities-probe-5-5b\/","title":{"rendered":"Royal Bank of Scotland Settles FHFA\u2019s MBS Securities Probe For $5.5B"},"content":{"rendered":"

\t\t\t\tThis week, Royal Bank of Scotland Group PLC (RBS) has agreed to pay the Federal Housing Finance Agency $5.5B to resolve the latter\u2019s investigation into the UK government-controlled bank\u2019s sale of toxic mortgage-backed securities to mortgage giants Freddie Mac and Fannie Mae leading up to the 2008 financial crisis. RBS has come under fire for the way it packaged and sold subprime mortgages. The violations allegedly involved private-label residential mortgage-backed securities (PLS) trusts that were purchased between 2005 and 2007.<\/p>\n

RBS will pay Freddie Mac about $4.5B and approximately $975M to Fannie Mae to resolve this RMBS fraud case. However, the bank is eligible for a $754M reimbursement according to certain indemnification agreements. <\/p>\n

RBS had previously reached, for $1.1B, separate settlements over similar MBS fraud claims that the US National Credit Union Administration had brought in Kansas and California. It remains under investigation by the US Department of Justice and several US agencies who are conducting their own mortgage-backed securities fraud probes. <\/p>\n

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

This week, Royal Bank of Scotland Group PLC (RBS) has agreed to pay the Federal Housing Finance Agency $5.5B to resolve the latter\u2019s investigation into the UK government-controlled bank\u2019s sale of toxic mortgage-backed securities to mortgage giants Freddie Mac and Fannie Mae leading up to the 2008 financial crisis. RBS has come under fire for […]<\/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":[3752,3757,4036],"tags":[2516,2841,2517,2842],"class_list":["post-6172","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-mortgagebacked-securities","category-royal-bank-of-scotland","tag-fannie-mae","tag-federal-housing-finance-agency","tag-freddie-mac","tag-residential-mortgage-backed-securities-fraud"],"yoast_head":"\nRoyal Bank of Scotland Settles FHFA\u2019s MBS Securities Probe For $5.5B — Investor Lawyers Blog — July 12, 2017<\/title>\n<meta name=\"description\" content=\"This week, Royal Bank of Scotland Group PLC (RBS) has agreed to pay the Federal Housing Finance Agency $5.5B to resolve the latter\u2019s investigation into — July 12, 2017\" \/>\n<meta name=\"robots\" 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