Group: FHFA’s Deal Will Allow MBS Defendant to Write Off Settlement
September 19, 2014
The Federal Housing Finance Agency’s most recent settlement of non-agency mortgage-backed securities lawsuit has one consumer group seeing red as it claims taxpayers will ultimately get stuck with the cost of the bank’s multi-million dollar payout. Late last week, the FHFA announced a $550 million legal deal with HSBC North American Holdings, leaving just two civil cases tied to nonprime MBS issuance still unresolved.