Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

BofA, Citigroup Lose Bid to Dismiss FHFA Mortgage Suits

Bank of America Corp. and Citigroup Inc. are among banks that lost bids to dismiss lawsuits filed by the Federal Housing Finance Agency over mortgage bonds sold to Fannie Mae and Freddie Mac.

U.S. District Judge Denise Cote in Manhattan denied requests by the banks, along with Credit Suisse Group AG and HSBC Holdings Plc, to throw out the cases, according to decisions filed today.

The banks are among more than a dozen financial institutions, including JPMorgan Chase & Co., UBS AG and Goldman Sachs Group Inc., that were sued by the FHFA last year over losses on about $200 billion in mortgage securities sold to mortgage finance companies Fannie Mae and Freddie Mac.

Cote previously ruled that cases against other banks could proceed. In today’s decisions, she said she was adopting the reasoning of the earlier rulings.

Lawrence Grayson, a spokesman for Charlotte, North Carolina-based Bank of America, and Citigroup spokeswoman Danielle Romero-Apsilos declined to comment on the rulings. Representatives of HSBC and Credit Suisse didn’t immediately respond to e-mails seeking comment on the rulings.

The cases are Federal Housing Finance Agency v. Bank of America Corp., 11-06195; Federal Housing Finance Agency v. Citigroup Inc., 11-06196; Federal Housing Finance Agency v. Credit Suisse Holdings (USA) Inc., 11-06200; Federal Housing Finance Agency v. HSBC North America Holdings Inc., 11-06189, U.S. District Court, Southern District of New York (Manhattan).

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.