2012-11-30chicagotribune.com

``The FHFA, which regulates Fannie and Freddie, last year sued 18 banks over the housing finance giants' losses on more than $200 billion in mortgage-backed securities. The lawsuits accuse the banks of misrepresenting the quality of the loans underlying the securities and violating U.S. securities laws.

The banks have denied the regulator's allegations and argued they should be dismissed. Among the arguments by the defendants is a contention that the lawsuits were filed after the statute of limitations had expired.''


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