Notice: wp_add_inline_script was called incorrectly. Do not pass <script> tags to wp_add_inline_script(). Please see Debugging in WordPress for more information. (This message was added in version 4.5.0.) in /home/home1inv/public_html/wp-includes/functions.php on line 4773
Call Me!: 419-77-STACY

Please enter your username or email address. You will receive a link to create a new password via email.

Morgan Stanley Eighth Bank to Peace With FHFA

After alleged misrepresentation of bad securities sold to Fannie Mae and
Freddie Mac, Morgan Stanley announced a $1.25 billion agreement in
principle with the Federal Housing Finance Agency (FHFA), according to
an SEC filing.
In connection with the settlement, the company announced it is
recording a $150 million addition to its fourth-quarter legal reserves.
Last year, the agency reported that they were able to recover
approximately $8 billion in settlements from seven other banks looking
to clear their name. The banks were accused of “material omissions” in
mortgage-backed security sales, which added up to tremendous losses
for Fannie and Freddie.
The agreement remains subject to final approvals by both parties.


Leave a Comment