Goldman Sachs Settles With FHFA For $3.15 Billion

(Jeff Sorg, OnlineEd) –  The Goldman Sachs Group, Inc. announced that Goldman, Sachs & Co. (Goldman) has reached agreements with the Federal Housing Finance Agency (FHFA) (as conservator for Fannie Mae and Freddie Mac) to resolve all federal and state securities law claims brought by FHFA with respect to residential mortgage-backed securities (RMBS) purchased by Fannie Mae and Freddie Mac over the 2005-2007 period.

Under the terms of the agreements, Goldman is repurchasing the RMBS for $3.15 billion.

Gregory K. Palm, Executive Vice President and General Counsel of The Goldman Sachs Group, Inc., stated “We are pleased to have resolved these matters.”

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This article was published on August 26, 2014. All information contained in this posting is deemed correct and current as of this date, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

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Jeff Sorg

About the Author

Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center's CDEi Designation for distance education in 2008. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.