Prior to the recent sale of the government-owned IndyMac FSB to an investor group,
Fannie Mae settled a $1 billion-plus buyback dispute with the thrift but all the parties involved are keeping the settlement secret.
Representatives from IndyMac's new owners (Dune Capital), the Federal Deposit Insurance Corp., and Fannie all confirmed that the dispute was settled but have declined to say on what terms.
A source familiar with the matter said the amount of loans Fannie wanted IndyMac to repurchase totaled about $1 billion.
Loan buyback requests typically come about when a buyer of mortgages discovers that the portfolio acquired has early payment defaults or higher-than-anticipated delinquencies.