The deal, signed between 2005 and 2007, is one of 15 settlements with a multitude of banks reached after the Federal Housing Finance Agency started filing cases in 2011 to recoup losses on roughly $200bn of mortgage-backed securities, according to Reuters.
The FHFA oversees both government-controlled mortgage companies as conservator.
Another case still remains to be settled against RBS in federal court in Connecticut, over $30.4bn of securities. Goldman Sachs Group, HSBC Holdings and Nomura have been named in similar cases.
RBS said the settled case concerned more than $2bn of securities and that it had set aside enough money to cover the settlement amount.
Bank of America Corp and its Countrywide and Merrill Lynch units have reached three of the 15 FHFA settlements, totaling $5.83bn, a larger amount than at any other bank.
The FHFA became the conservator for Freddie Mac and Fannie Mae after federal regulators seized those companies in September 2008.
