Wells Fargo said Wednesday it had agreed to pay $335 million to settle claims by Fannie Mae and Freddie Mac that it overstated the quality of mortgage securities it sold them.
The regulator of mortgage finance giants Fannie Mae and Freddie Mac detailed plans Monday to begin contracting their business while merging their securitization operations.
WASHINGTON — Federal Reserve policymakers viewed the US economy's outlook as particularly clouded, and some wanted to ramp up large-scale asset purchases, according to the minutes of their last meeting published Wednesday.
The United States plans to file lawsuits against more than a dozen big banks over mortgage-backed securities seen to have fueled the 2008 economic crisis, the New York Times said.
US stocks dropped sharply on Monday, while Treasury bond prices actually rose in the wake of Standard & Poor's unprecedented downgrade of the United States's credit rating.
