October 10, 2013Statement by Bradley Lerman, Executive Vice President and General Counsel, on Resolution Agreement with SunTrust
"Fannie Mae's agreement with SunTrust is another sign of progress in addressing outstanding issues so that the housing market can continue to strengthen. This agreement resolves repurchase issues and compensates taxpayers fairly, allowing Fannie Mae and SunTrust to move forward with an even stronger relationship.
As we've previously disclosed, we expect to complete reviews on legacy loans for potential repurchase by the end of 2013. Our agreement with SunTrust complements our previous agreements with Bank of America, Citi and other business partners to resolve repurchase requests and other matters."