Citigroup agrees to $395M settlement with Freddie over mortgages

09/26/2013 | Reuters · Bloomberg

Citigroup has reached a $395 million deal with Freddie Mac to settle claims involving 3.7 million loans the bank sold to the government-sponsored enterprise from 2000 to 2012. The settlement follows a similar deal with Fannie Mae for $968 million, reached in July. "Today's agreement with Freddie Mac marks another important milestone in successfully resolving Citi's remaining legacy mortgage issues," said Jane Fraser, CEO of CitiMortgage.

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