Fannie, Freddie Got $20.9 Billion From Loan Buybacks, FCIC Says
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Fannie Mae and Freddie Mac have received about two-thirds of the $34.8 billion they’ve demanded from lenders for mortgages that failed to meet quality standards, the Financial Crisis Inquiry Commission reported.
The government-sponsored enterprises got banks to buy back 167,000 home loans totaling $20.9 billion from 2007 through August of last year, the FCIC said in its final report to Congress and President Barack Obama, which was released today.