NEW YORK: Goldman Sachs Group Inc has agreed to pay US$3.15bil to repurchase residential mortgage-backed securities to resolve federal claims tied to the sale of the bonds to Fannie Mae and Freddie Mac.
The buyback represented a premium of about US$1.2bil and made the two US-owned mortgage-finance companies whole on the securities, the Federal Housing Finance Agency (FHFA), the firms’ government overseer, said in a statement.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!