Citigroup paid $250 mln to resolve U.S. mortgage suit

WASHINGTON Thu Jan 2, 2014 11:54am EST

WASHINGTON Jan 2 (Reuters) - Citigroup Inc. paid $250 million to taxpayer-owned Fannie Mae and Freddie Mac to settle a lawsuit over soured mortgage securities, the regulator of the two housing finance firms said on Thursday.

General Electric Co. also paid $6.25 million to settle a similar suit, the Federal Housing Finance Agency said in a press release. Both Citi and GE previously settled the claims in 2013, but neither had disclosed the terms.