RBS agrees to pay nearly $100m to settle mortgage claims

RBS branch sign

Royal Bank of Scotland agreed on Thursday to pay $99.5m to resolve a U.S. regulator's claims against the bank over Freddie Mac's purchase between 2005 and 2007 of mortgage-backed securities that later went sour.

Reuters reports that the Federal Housing Finance Agency said the accord related to litigation also naming Ally Financial, which previously settled, as a defendant.

The FHFA said it has now reached 15 settlements, totalling about $16.1bn, stemming from lawsuits it filed in 2011 to recoup losses on roughly $200bn of mortgage-backed securities purchased by Freddie Mac and Fannie Mae.

The FHFA oversees both government-controlled mortgage companies as conservator.

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RBS to pay $99.5 mln to settle some FHFA mortgage claims 

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