Wells Fargo settles Fannie Mae repurchase claims for $541M | South Salem NY Homes

Wells Fargo will pay Fannie Mae $541 million to settle allegations that many of the mortgages it originated and sold to the mortgage giant before 2009 included false representations and warranties.  When $50 million in loans that Wells Fargo has already repurchased are included, the settlement totals $591 million, Fannie Mae said.

Source: fanniemae.com. – See more at: http://www.inman.com/wire/wells-fargo-settles-fannie-mae-repurchase-claims-for-541m/?utm_source=20131231&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.35G8mGgb.dpuf