April 7- Citigroup Inc said it would pay $1.12 billion in cash to settle legacy securities and other claims and incur a related charge of $100 million in the first quarter. Citi has offered the settlement to the 68 Citi- sponsored mortgage securitization trusts that participated in the $59.4 billion residential mortgage-backed securities.» Read More
Fannie Mae and Freddie Mac will form a joint venture for securitizing home loans that could end up replacing the two government-controlled mortgage finance giants.
Some of the world’s biggest banks are trying to extend the principles of securitization to the plain-vanilla world of trade finance – a market worth an estimated $10 trillion a year – as concern mounts that regulatory changes could constrain a key lubricant of the global economy. The Financial Times reports.