Ex-Freddie Mac Officials Settle SEC Suit Over Subprime Loans

April 14, 2015 9:23 PM

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Ex-Freddie Mac Officials Settle SEC Suit Over Subprime Loans

Richard Syron, the former chief executive officer of Freddie Mac, settled a Securities and Exchange Commission lawsuit claiming officials understated hundreds of billions of dollars in subprime loans held by the firm and Fannie Mae.

The accord filed in Manhattan federal court on Tuesday comes more than three years after the regulator entered into settlements with the U.S.-owned firms. Also settling are Patricia Cook, a former Freddie Mac executive vice president, and Donald Bisenius, an ex-senior vice president.

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