Bloomberg Law
July 12, 2017, 3:21 PM UTC

RBS to Pay $5.5 Billion in FHFA Mortgage Bond Settlement

Bloomberg Media

By Richard Partington and Stephen Morris, Bloomberg News

Royal Bank of Scotland Group Plc agreed to pay $5.5 billion to settle the second of three major U.S. mortgage-backed securities probes the government-owned lender must overcome before it can fully return to the private sector.

The accord between the British bank and the U.S. Federal Housing Finance Agency is the second-biggest the FHFA has extracted and, according to a statement, is to settle a lawsuit alleging RBS sold faulty mortgage bonds to Fannie Mae and Freddie Mac from 2005 to 2007. RBS must still reach a deal with the U.S. ...

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