Thirteen major financial institutions have agreed to pay a combined $337 million to settle an antitrust lawsuit accusing their trading desks of engaging in a price-fixing scheme for Fannie and Freddie debt.
One Freddie shareholder quipped: "It sounds like something their advisors would have recommended – to improve proforma [earnings] going into a capital raise."
A court ruling last week means plaintiffs can't seek compensation for their direct losses, but can pursue their lawsuits as shareholders representing Fannie Mae and Freddie Mac.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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