Wells Fargo settles Fannie Mae repurchase claims for $541M

Wells Fargo will pay Fannie Mae $541 million to settle allegations that many of the mortgages it originated and sold to the mortgage giant before 2009 included false representations and warranties. When $50 million in loans that Wells Fargo has already repurchased are included, the settlement totals $591 million, Fannie Mae said. Source: fanniemae.com.