Flagstar Makes Final Payment Tied to Longstanding Mortgage Settlement

March 31, 2021

American Banker, Mar. 31, 2021–Jim Dobbs (subscription)
Flagstar Bancorp in Troy, Mich., has resolved a longstanding issue with the Justice Department.
The $31 billion-asset company disclosed in a regulatory filing Tuesday that it agreed to pay $70 million in cash to fully address a settlement it reached with the government in 2012. It will record a $35 million charge in the first quarter to account for the payment.
https://www.americanbanker.com/news/flagstar-resolves-longstanding-issue-over-mortgage-underwriting