Team Thayer Property Servicing

The Royal Bank of Scotland ( RBS ) may have to pay as much as $13 billion in a mortgage-backed securities lawsuit filed by the Federal Housing Finance Agency ( FHFA ), according to multiple media reports . FHFA made a filing in the U.S. District Court in Connecticut in late June seeking $13 billion in damages, according to a  report from Bloomberg . RBS was one of 18 lenders sued by the FHFA in 2011 to recoup U.S. taxpayer costs following the government's $187.5 billion bailout of Fannie Mae and Freddie Mac in 2008. The lawsuit against RBS in the Connecticut court involved  the selling of about $32 billion worth  of faulty mortgage-backed securities to Fannie Mae and Freddie Mac before the crisis. The bank had  set aside about $3 billion  for a possible settlement but reports surfaced that the FHFA might ask as much as $7.7 billion. The case should go to trial sometime in 2016 if a settlement is not reached. Analysts from Bloomberg Intelligence predict...