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Court Approves Lehman Settlement with Freddie Mac

washingtonpost.com | February 20, 2014

By Associated Press

A U.S. Bankruptcy Court judge has approved Lehman Brothers Holdings Inc.’s $767 million settlement with Freddie Mac — an agreement that releases hundreds of millions of dollars to return to the failed investment bank’s creditors.

Freddie Mac was seeking a claim over $1.2 billion in loans that it made to Lehman before its collapse.

Lehman’s bankruptcy in 2008 was the biggest in U.S. history and helped set off the financial crisis.

As part of the agreement announced Wednesday, Freddie Mac will hand over loan information that allows Lehman to pursue claims against mortgage originators for alleged misrepresentation. The deal is similar to one struck recently between Lehman and another mortgage finance giant, Fannie Mae.

Representatives for both sides could not be reached for comment.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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