Home / News / Secondary Market (page 60)

Secondary Market

FHFA, Nomura Trial Expected to Continue for a Month

Nomura, which is headquartered in Japan and is one of the world's biggest banks, is the first financial institution to go to trial out of the 18 lenders FHFA sued in 2011 to recoup U.S. taxpayer costs following the government's $188 billion bailout of Fannie Mae and Freddie Mac in 2008, after which the government seized control of both Enterprises.

Read More »

FHFA’s Actions Increase Emphasis on Removing GSEs’ Non-Performing Loans

Recent actions by the Federal Housing Finance Agency (FHFA) indicate that the Agency is placing an increased emphasis on the clearing out of Fannie Mae's and Freddie Mac's seriously delinquent loan portfolios and steering more borrowers toward foreclosure prevention and loss mitigation actions, using foreclosure only as an absolute last resort.

Read More »

FHFA’s Mortgage-Backed Securities Suit vs. Nomura, RBS Scheduled for Trial

FHFA is said to be seeking $1 billion in damages over losses the Agency suffered when the sponsor of the mortgage-backed securities, Nomura, and the securities' underwriter, RBS, did not follow underwriting guidelines on 68 percent of a sample of a bundle of securities backing more than $2 billion worth of mortgages sold to the GSEs prior to the financial crisis of 2008.

Read More »

Judge Approves $69 Million MBS Settlement for Bank of America, U.S. Bank

The institutional investors, including affiliates of investment manager BlackRock Inc. and Pacific Investment Management Company LLC, had objected to the settlement, saying it excludes them from the class, while simultaneously releasing their claims against U.S. Bank in a derivative action. The judge said the terms of the agreement didn’t bar those investors' claims.

Read More »

Ratings Agency Publishes Report on Freddie Mac Loan Loss Data

Fitch Ratings has published a special report providing insights into Freddie Mac's loan loss data comparing observed loss performance for Agency loans to both non-Agency loans and the fixed loss severity schedules the Enterprise uses in risk-sharing transactions, according to announcement from Fitch Ratings.

Read More »

Your Daily Dose of DS News

Get the news you need, when you need it. Subscribe to the Daily Dose of DS News to receive each day’s most important default servicing news and market information, absolutely free of charge.