Flagstar, Fannie Mae Settles Mortgage Repurchase Obligations

(RTTNews) - Flagstar Bancorp Inc. (FBC) Wednesday said it has entered into an agreement with Fannie Mae to resolve repurchase requests and obligations associated with loans originated between January 1, 2000 and December 31, 2008, for a total resolution amount of $121.5 million.

After paid claim credits and other adjustments, the Bank will pay $93.5 million to Fannie Mae.

The agreement covers the bulk of the loans originated between January 1, 2000 and December 31, 2008 and sold to Fannie Mae, regardless of whether Fannie Mae has made a repurchase demand on any particular loan to date.