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FHFA Files Lawsuits Over Securities Losses

Posted on 9/7/2011

The Federal Housing Finance Agency (FHFA) filed lawsuits on Friday, September 2, against 17 financial institutions for losses Fannie Mae and Freddie Mac incurred on nearly $200 billion in mortgage securities packaged and sold by the institutions. The suits allege that the loans underlying the securities had different and more risky characteristics than the descriptions contained in the marketing and sales materials provided to Fannie and Freddie.

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