Federal Home Loan Mortgage Corp in conjunction with Fannie Mae enters into settlement with Deutsche Bank

Friday, 20 Dec 2013 09:30am EST 

Federal Home Loan Mortgage Corp:Says in conjunction with Fannie Mae and FHFA, has entered into an agreement with Deutsche Bank Securities, Inc. and certain affiliated entities.Says in order to settle claims related to investments by Freddie Mac and Fannie Mae in certain residential non-agency mortgage-related securities.Says the agreement will settle litigation previously initiated by FHFA against Deutsche Bank and also certain repurchase obligations with respect to the loans in these securities.Says Deutsche Bank will make a total payment of $1.925 bln, of which about $1.628 billion is expected to be paid to Freddie Mac and will be reflected in the company's fourth quarter results. 

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