Wells Fargo & Co., the largest U.S. home lender, agreed to pay Fannie Mae $591 million to resolve repurchase demands on loans sold to the government-backed firm before Jan. 1, 2009.

The bank paid $541 million in cash to Washington-based Fannie Mae after accounting for prior repurchases, the San Francisco-based lender said today in a statement distributed by Business Wire.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.