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Banks to Pay $1.3 Billion Mortgage Settlement to Freddie Mac

HeadlineOct 03, 2013

The mortgage giant Freddie Mac has reached new settlements with three large banks for the sale of toxic mortgages. Wells Fargo, Citigroup and SunTrust Banks will pay a combined $1.3 billion to resolve claims around misrepresenting the quality of home loans that were bundled into securities.

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