U.S. set to Sue Big Banks Over Mortgage Securities
According to Fox News, The Federal Housing Agency, which oversees U.S. mortgage giants Fannie Mae and Freddie Mac is preparing to file suit against more than a dozen big banks.
“The suits– which seek billion in compensation– allege that lenders including Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank inaccurately represented the mortgage securities they put together and sold during the housing bubble.”
This recent word of suit has affected the stock market significantly. This could possibly be one of the largest lawsuits in U.S. history if these companies are deemed responsible. The Russell Nolting Group will keep you updated as to what the outcome out this lawsuit will mean and how it will affect the St. Louis Real Estate Market.
Category : Blog &St. Louis Community Resources
