(Reuters) - Morgan Stanley (MS) said it would pay $1.25 billion to the U.S. regulator for Fannie Mae (FNMA) and Freddie Mac (FMCC) to settle a lawsuit related to the sale of mortgage-backed securities. The Wall Street bank will add $150 million to its legal reserves as a result of the settlement with the Federal Housing Finance Agency, Morgan Stanley disclosed in a regulatory filing on Tuesday. A Federal Housing Finance Agency (FHFA) spokeswoman declined to comment, except to confirm the settlement. The FHFA in January said it had recouped nearly $8 billion through settlements with financial institutions it sued in 2011 over allegedly false and misleading statements relating to some $200 billion in mortgage-backed securities sold to Fannie and Freddie.
via Business News - Yahoo Finance http://ift.tt/1nR6c9q
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