FHFA resolves 6 of 18 RMBS suits against big banks

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Mortgage Backed Securities Lawsuits Still Proliferate.. like the FHFA’s lawsuit against these banks and more, and they represent just one of the guppies that would benefit from a win by the.

enormous. Whether attorneys knowingly filed false documents or simply failed to question documents they had reason to suspect, a large numbers of attorneys were complicit in the filing of tainted.

Bank of America inked a $9.5B deal with the Federal Housing Finance Agency to resolve its residential mortgage-backed securities litigation with the regulator.. The FHFA settlement resolves.

The National Credit Union Administration has accepted an offer of judgement for $129.6 million from the Royal Bank of Scotland, the agency announced today. This resolves claims arising from losses related to purchases of residential mortgage-backed securities by.

Quinn Emanuel and FHFA Clear Big Hurdle in Huge MBS Case A ruling denying a motion to dismiss the FHFA’s suit against UBS directly affects all 15 FHFA cases before Manhattan federal district judge.

Ahead of the FHFA settlement, the bank had put aside £6.6bn to cover the cost of RMBS misselling and the penalty from the FHFA accounted for £3.6bn of this. The total bill for RBS falls to £3.6bn because of indemnity agreements but the bank admitted it will need to take another £151m provision to cover the rest of the FHFA settlement.

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 · And while JPM is a very profitable bank ($2.4 trillion in assets) making money hand over fist it doesn’t have enough cash to payoff all those private rmbs suits at the dollar amount they could likely legally win if they ever went to trial. Last month we saw JPM settle its first RMBS fraud suit with one of the monolines, Assured Guarantee.