July 1, 2013 / 12:55 PM / 4 years ago

Citi to pay Fannie $968 mln for potential mortgage repurchase claims

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July 1 (Reuters) - Citigroup Inc will pay Fannie Mae $968 million to resolve potential mortgage repurchase claims for breaches of representations on loans sold to Fannie Mae between 2000 and 2012.

Citi will record a residential mortgage repurchase reserve build of $245 million in the second quarter of 2013.

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