U.S. Bancorp Reaches $53M Settlement with Freddie Mac

By Sarah Todd December 10, 2013, 5:51 p.m. EST 1 Min Read

Consumer banking

PNC Reaches $89 Million Settlement with Freddie Mac

PNC Financial Services Group (PNC) in Pittsburgh has agreed to pay $89 million to Freddie Mac in order to resolve repurchase obligations on loans sold to the government-sponsored entity.

By Sarah Todd

December 6
Consumer banking

Fifth Third to Pay Freddie Mac $25M for Mortgage Repurchase Claims

Fifth Third Bancorp (FITB) in Cincinnati has agreed to pay $25 million to Freddie Mac to resolve mortgage repurchase claims.

By Sarah Todd

November 25

U.S. Bancorp (USB) in Minneapolis has agreed to pay $53 million to Freddie Mac to resolve mortgage-repurchase obligations.

The payment will cover loans sold to the government-sponsored entity between 2000 and 2008, according to a U.S. Bancorp press release Tuesday.

The $361 billion-asset U.S. Bancorp had set aside the full settlement cost in its reserves as of Sept. 30, according to the release.

PNC Financial Services Group (PNC) agreed last week to pay Freddie Mac $89 million to repurchase obligations on loans sold during the same time period. Fifth Third Bancorp (FITB) reached a $25 million agreement with Freddie Mac in November.

Sarah Todd

Deputy Editor, BankThink

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