WASHINGTON — A group of House Financial Services Democrats are raising questions about whether taxpayers will be fully protected under the terms of a recent settlement over poorly underwritten loans held by Fannie Mae and Freddie Mac.

In a letter to acting Federal Housing Finance Agency director Edward DeMarco, Reps. Maxine Waters, Brad Miller, Keith Ellison and Stephen Lynch asked for details surrounding the terms of a combined settlement of $3.3 billion from Bank of America Corp and Ally Financial to cover their repurchase obligations to the government-sponsored enterprises for faulty loans.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access