Fannie, Freddie to finish sorting out loan disputes by year end

WASHINGTON Thu Oct 24, 2013 3:29pm EDT

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WASHINGTON Oct 24 (Reuters) - Disputes between financial institutions and government-run mortgage finance sources Fannie Mae and Freddie Mac on loans made before the financial crisis are on track to be settled by the end of the year, the firms' regulator said on Thursday.

"We've been making progress on getting the claims resolved and settled," the Federal Housing Finance Agency's acting director, Edward DeMarco, told reporters. The firms are sorting through delinquent loans for signs of any violations of the representations and warranties.

DeMarco also said lenders will get at least six months' notice before the government reduces the limit on the size of loans that Fannie Mae and Freddie Mac can back.

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