Goldman Sachs in $3.15B settlement with feds

Posted online August 25, 2014 | 6:49 am

Goldman Sachs has agreed to pay $3.15 billion to repurchase mortgage-backed securities from Fannie Mae and Freddie Mac to settle accusations that it misstated the quality of the investments.

According to Fortune, the settlement with the Federal Housing Finance Agency on Friday puts a $1.2 billion premium on the value of mortgage-backed securities.

Goldman is buying back securities sold to Fannie Mae and Freddie Mac 2005-2007.

Read more from Fortune.

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