Tag Archives: Lawsuits

Better Markets, a non-profit Wall Street reforms advocate based in Washington, D.C., filed a suit against the DOJ in February 2014 alleging that the settlement Chase agreed to with the DOJ in November 2013 to settle claims that Chase sold toxic mortgage-backed securities in the run-up to the financial crisis, was "unlawful" and that the settlement had granted the megabank immunity without sufficient judicial review.

In its complaint, the firm alleges that HLSS, which deals in the acquisition of mortgage servicing assets, made misleading statements and failed to disclose to investors how much its own business depended on Ocwen's and the extent of Ocwen's troubles.

One week after a U.S. Federal Court of Claims Judge ruled that his company's lawsuit against the government over its use of GSE profits could continue, Fairholme Funds CEO Bruce Berkowitz addressed investors on a conference call Tuesday morning, telling them that his company, one of the GSEs' biggest investors, has made "considerable progress" in its lawsuit against the government.

New York-based credit ratings agency Standard & Poor's Ratings Services could enter into a settlement for more than $1 billion with the U.S. Department of Justice over the misrepresentation of mortgage-backed securities to investors before the end of the week.

A group of mortgage bond investors has sent Ocwen Financial Corp. a notice of non-performance in what could be the precursor toward a future lawsuit.

A U.S. District judge on Wednesday denied the U.S. Department of Treasury's motion to strike Pershing Square Capital Management's voluntary dismissal of a lawsuit it filed in August over misappropriation of government funds.

Cook County, Illinois, home of the third most populated city in the U.S., has filed a lawsuit against Wells Fargo, accusing the nation's largest residential mortgage lender of predatory lending practices.

NCUA's complaint deals with credit unions U.S. Central, WesCorp, Members United, Southwest, and Constitution, all of which were involved in the purchase of $140 billion in RMBS between 2004 and 2007 and all of which closed after those securities lost value.